Form 4: Alight Inc. Director William P. Foley II Reports Changes in Beneficial Ownership

Director William P. Foley II reports acquisition of shares in lieu of cash retainer and indirect ownership through related entities.

Summary

• William P. Foley II, a director of Alight, Inc., reported changes in beneficial ownership of the company's Class A Common Stock.
• On March 29, 2024, Foley acquired 9,708 shares of Class A Common Stock as a quarterly award in lieu of a $95,625 cash retainer for his services as a board member.
• The shares were granted pursuant to the Alight, Inc. 2021 Omnibus Incentive Plan, with the number of shares calculated based on the closing price of $9.85 on March 28, 2024.
• Following the transaction, Foley directly owns 5,846,437 shares of Class A Common Stock, which includes restricted stock units scheduled to vest in the future.
• Foley also indirectly owns 6,833,304 shares through Trasimene Capital FT, LLC and Bilcar FT, LP.
• Foley disclaims beneficial ownership of these indirectly held securities except to the extent of his pecuniary interest.

Sentiment

Score: 6

Explanation: Neutral sentiment. The filing is a standard disclosure of insider transactions. The acquisition of shares by a director is generally viewed as a positive signal, but the overall impact is likely to be minimal.

Positives

• The acquisition of shares by a director can be seen as a positive sign, indicating confidence in the company's future performance.
• The use of shares in lieu of cash retainer demonstrates a commitment to the company's equity.

Management Comments

• The Reporting Person disclaims beneficial ownership of the securities reported herein, except to the extent of his pecuniary interest therein, if any.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This filing indicates a director's ongoing investment in the company.

Comparison to Industry Standards

• Director compensation packages often include a mix of cash and equity.
• Using shares in lieu of cash is a common practice to align director interests with shareholder value.
• The amount of shares awarded is typical for board retainers in similarly sized companies.

Stakeholder Impact

• The transaction has a minor positive impact on shareholders as it aligns the director's interests with theirs.
• The impact on employees, customers, suppliers, and creditors is negligible.

Key Dates