Form 4: Albertsons CFO Sharon McCollam Withholds Restricted Stock Units for Tax Obligations
SEC Form 4 Filing
Albertsons Companies' CFO, Sharon McCollam, had a number of restricted stock units withheld to cover FICA tax obligations related to her eligibility for early retirement.
Summary
- Albertsons Companies' CFO, Sharon McCollam, had restricted stock units withheld to cover FICA taxes.
- The withheld units are a mix of time-based and performance-based restricted stock units.
- These units were granted on various dates and had different vesting schedules.
- The withholding was triggered by Ms. McCollam's eligibility for early retirement.
- The price per share used for the withholding was $19.45.
Sentiment
Score: 7
Explanation: The document reflects a routine transaction related to executive compensation and tax obligations, which is neither particularly positive nor negative. It is a normal part of corporate operations.
Industry Context
This is a standard practice for companies to withhold shares to cover tax obligations when employees vest in equity compensation, particularly when they become eligible for retirement.
Comparison to Industry Standards
- Many companies use restricted stock units as part of their compensation packages.
- It is common for companies to withhold shares to cover tax obligations when employees vest in equity compensation.
- The vesting schedules and performance criteria are specific to Albertsons' compensation plan.
Stakeholder Impact
- The withholding of shares has a minor impact on the total number of shares outstanding.
- The transaction is not expected to have a significant impact on shareholders.
Key Dates
| Date | Description |
|---|---|
| 2022-02-28 | Date of grant for some of the time-based and performance-based restricted stock units. |
| 2023-02-25 | Date performance-based restricted stock units granted on February 28, 2022 were earned. |
| 2023-03-20 | Date of grant for some of the time-based and performance-based restricted stock units. |
| 2024-02-24 | Date performance-based restricted stock units granted on February 28, 2022 and March 20, 2023 were earned. |
| 2024-04-24 | Date of grant for some of the time-based restricted stock units. |
| 2024-12-02 | Date of the restricted stock unit withholding. |
| 2024-12-06 | Date of filing. |
| 2025-02-22 | Vesting date for some of the time-based restricted stock units. |
| 2026-02-28 | Vesting date for some of the time-based restricted stock units. |
| 2027-02-27 | Vesting date for some of the time-based restricted stock units. |
Keywords
Restricted Stock Units, FICA Taxes, Equity Compensation, Sharon McCollam, Albertsons Companies, CFO, Tax Withholding, Early Retirement
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