Form 4: Albertsons Executive Susan Morris Withholds Stock Units for Tax Obligations
SEC Filing
Albertsons Companies' EVP & Chief Operations Officer, Susan Morris, withheld restricted stock units to cover FICA taxes related to her eligibility for early retirement.
Summary
- Susan Morris, EVP & Chief Operations Officer at Albertsons Companies, Inc., had a number of restricted stock units withheld to cover FICA taxes.
- These withholdings are due to her eligibility for early retirement.
- The transactions involved both time-based and performance-based restricted stock units.
- A total of 1016 shares were withheld from time-based units granted on February 28, 2022, 1259 shares from units granted on March 20, 2023, and 1179 shares from units granted on April 24, 2024.
- Additionally, 1072 shares were withheld from performance-based units granted on February 28, 2022, and 1791 shares from units granted on March 20, 2023.
- All withheld shares are Class A common stock with a par value of $0.01, and were valued at $19.45 per share.
Sentiment
Score: 7
Explanation: The document describes 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 type of transaction is common for executives who receive stock-based compensation and are eligible for retirement, as they often need to cover tax obligations when their shares vest or are exercised.
Comparison to Industry Standards
- Stock-based compensation is a common practice across many publicly traded companies, particularly for executive-level employees.
- The withholding of shares to cover tax obligations is a standard procedure in these compensation plans.
- Companies like Kroger, Costco, and Walmart also use similar stock-based compensation plans for their executives.
- The specific vesting schedules and performance metrics may vary, but the general principle of using stock to align executive interests with shareholder value is consistent.
Stakeholder Impact
- The transaction has a minimal impact on shareholders as it is a standard procedure for executive compensation.
- The withholding of shares does not affect the company's overall financial position.
Key Dates
| Date | Description |
|---|---|
| 2022-02-28 | Date of grant for some of the time-based and performance-based restricted stock units that were withheld. |
| 2023-03-20 | Date of grant for some of the time-based and performance-based restricted stock units that were withheld. |
| 2024-02-24 | Date that performance-based restricted stock units were earned. |
| 2024-04-24 | Date of grant for some of the time-based restricted stock units that were withheld. |
| 2024-12-02 | Date of the stock unit withholding transaction. |
| 2024-12-06 | Date of filing of the transaction. |
| 2025-02-22 | Vesting date for the time-based restricted stock units that were withheld. |
Keywords
restricted stock units, FICA taxes, executive compensation, stock withholding, early retirement, Albertsons, Susan Morris
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