Form 4: Academy Sports & Outdoors President Samuel J. Johnson Reports Stock Transactions
SEC Form 4 Filing
President Samuel J. Johnson of Academy Sports & Outdoors, Inc. reports the vesting of restricted stock units and subsequent sale of shares to cover tax obligations.
Summary
- On September 10, 2024, Samuel J. Johnson, President of Academy Sports & Outdoors, Inc., reported transactions involving the company's common stock.
- Johnson exercised 10,931 restricted stock units, which converted into an equal number of common stock shares.
- Simultaneously, Johnson disposed of 3,130 shares of common stock at a price of $52.64 to satisfy tax withholding obligations related to the vesting of the restricted stock units.
- Following these transactions, Johnson directly owns 83,869 shares of Academy Sports & Outdoors, Inc. common stock.
- The restricted stock units were granted on September 10, 2021, under the company's 2020 Omnibus Incentive Plan and vest in two equal installments on the second and third anniversary of the grant date.
Sentiment
Score: 5
Explanation: The sentiment is neutral as the filing simply reports routine transactions related to executive compensation and tax obligations.
Industry Context
This filing is a routine disclosure of insider transactions, which are common for executives who receive stock-based compensation. Investors often monitor these filings for insights into management's view of the company's prospects, although this particular transaction appears to be primarily related to tax obligations.
Comparison to Industry Standards
- Executive compensation packages often include restricted stock units that vest over time.
- The vesting schedule of 50% on the second and third anniversary is a fairly standard vesting schedule.
- Selling shares to cover tax obligations upon vesting is a common practice among executives.
Stakeholder Impact
- The transaction has a minimal direct impact on stakeholders as it is a routine insider transaction.
- Shareholders may be interested in the insider's holdings and transaction history.
Key Dates
| Date | Description |
|---|---|
| 09/10/2021 | Grant date of 21,862 time-based restricted stock units that vest 50% on each the second and third anniversary of the date of grant. |
| 09/10/2024 | Date of transaction: exercise of restricted stock units and sale of shares for tax obligations. |
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