Form 4: Academy Sports & Outdoors CEO Steven Lawrence Reports Stock Transactions
SEC Form 4 Filing
CEO Steven Paul Lawrence reports transactions involving Academy Sports & Outdoors stock, including the vesting and subsequent sale of restricted stock units.
Summary
- Steven Paul Lawrence, CEO of Academy Sports & Outdoors, reported transactions involving the company's stock.
- On January 30, 2025, 1,990 restricted stock units vested and were converted into common stock.
- Following the conversion, 536 shares were sold at $53.97 to cover tax obligations.
- On January 31, 2025, 3,057 restricted stock units vested and were converted into common stock.
- Following the conversion, 745 shares were sold at $54.68 to cover tax obligations.
- After these transactions, Lawrence directly owns 148,412 shares of Academy Sports & Outdoors common stock and 2,531 restricted stock units.
Sentiment
Score: 5
Explanation: This is a neutral report of stock transactions, with no inherent positive or negative sentiment.
Future Outlook
The remaining unearned amount of the March 30, 2022 grant (i.e., 540 PRSUs) may vest upon certification by the Issuer's compensation committee of achievement of certain Issuer stock price conditions as of January 30, 2026.
Industry Context
This filing is a routine disclosure of stock transactions by a company executive, which is common in publicly traded companies.
Comparison to Industry Standards
- Executive compensation packages often include restricted stock units that vest over time, aligning executive interests with shareholder value.
- The vesting schedules and performance criteria described are typical for performance-based equity grants.
- Companies like Dick's Sporting Goods (DKS) and Bass Pro Shops also utilize similar equity-based compensation strategies for their executives.
Stakeholder Impact
- These transactions have a minimal direct impact on stakeholders, as they represent routine executive compensation and stock sales.
Key Dates
| Date | Description |
|---|---|
| March 31, 2021 | Reporting Person was granted 12,226 PRSUs. |
| March 30, 2022 | Reporting Person was granted 8,501 performance-based restricted stock units (PRSUs). |
| March 2, 2022 | Issuer's compensation committee certified achievement of the performance criteria during fiscal 2021. |
| March 1, 2023 | Issuer's compensation committee certified achievement of 93.7% of the performance criteria during fiscal 2022 meaning that 7,961 PRSUs were deemed earned. |
| January 30, 2024 | First annual installment vesting date for 75% of the earned amount of the March 30, 2022 grant. |
| January 30, 2025 | 1,990 Restricted Stock Units vested and shares were sold; potential vesting date for remaining unearned PRSUs from March 30, 2022 grant. |
| January 31, 2025 | 3,057 Restricted Stock Units vested and shares were sold. |
| January 30, 2026 | Potential certification date for achievement of certain Issuer stock price conditions. |
| March 31, 2031 | Expiration date of Restricted Stock Units granted on March 31, 2021. |
| March 30, 2032 | Expiration date of Restricted Stock Units granted on March 30, 2022. |
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