Form 4: ACI Worldwide CFO Scott W Behrens Sells Shares to Cover Tax Obligations

ACI Worldwide's CFO, Scott W Behrens, disposed of 2,118 shares of common stock on May 11, 2024, to cover tax liabilities arising from vesting restricted stock units.

Summary

• On May 11, 2024, Scott W Behrens, the Chief Financial Officer of ACI Worldwide, Inc. (ACIW), sold 2,118 shares of the company's common stock.
• The shares were sold at a price of $35.93 per share.
• This transaction was executed to cover the tax liability resulting from the vesting of 4,661 restricted stock units granted on May 11, 2023.
• Following the transaction, Behrens directly owns 463,150 shares of ACI Worldwide.

Sentiment

Score: 5

Explanation: Neutral sentiment as the transaction is a routine sale of shares to cover tax obligations and does not indicate a change in the executive's confidence in the company.

Industry Context

This is a routine transaction for covering tax obligations related to vesting equity. It is common for executives to sell shares to cover these liabilities.

Comparison to Industry Standards

• Executive stock sales to cover tax obligations upon vesting of restricted stock units are a common practice across publicly traded companies.
• Comparable companies such as Fidelity National Information Services (FIS) and Global Payments (GPN) often see similar transactions by their executives.
• The number of shares sold is relatively small compared to the total holdings, which is typical in these situations.

Stakeholder Impact

• The transaction is unlikely to have a significant impact on shareholders as it is a routine sale to cover tax obligations.
• Employees are unlikely to be affected by this transaction.

Key Dates