Form 4: Allegion plc Executive Tracy L. Kemp Reports Stock Award Vesting and Tax Withholding
SEC Form 4 Filing
Tracy L. Kemp, SVP-Chief Info. & Digital Ofr. of Allegion plc, reports the vesting of performance-based restricted stock units and subsequent tax withholding.
Summary
- On February 5, 2025, Tracy L. Kemp, SVP-Chief Info. & Digital Ofr. of Allegion plc, had performance-based restricted stock units (PSUs) vest, resulting in the acquisition of 2,411 ordinary shares.
- These PSUs were granted in February 2022 and vested based on performance levels certified by the Issuer's Compensation and Human Capital Committee.
- Also on February 5, 2025, 735 ordinary shares were disposed of to cover tax withholding obligations at a price of $128.67 per share.
- Following these transactions, Kemp beneficially owns 11,457 ordinary shares of Allegion plc.
Sentiment
Score: 7
Explanation: The sentiment is neutral to slightly positive. The vesting of PSUs suggests the achievement of performance goals, which is a positive indicator. The tax withholding is a standard procedure.
Positives
- The vesting of PSUs indicates that performance goals were met, as certified by the Issuer's Compensation and Human Capital Committee.
Industry Context
This filing is a routine disclosure related to executive compensation and stock ownership, common in publicly traded companies.
Comparison to Industry Standards
- Executive compensation packages often include performance-based equity awards like PSUs to align management's interests with those of shareholders.
- Tax withholding upon vesting of equity awards is a standard practice across publicly traded companies.
- Comparable companies such as Assa Abloy and Stanley Black & Decker also utilize similar equity compensation strategies for their executives.
Stakeholder Impact
- The vesting of PSUs aligns executive compensation with company performance, potentially benefiting shareholders.
Key Dates
| Date | Description |
|---|---|
| February 2022 | Date of grant for the performance-based restricted stock units (PSUs). |
| 02/05/2025 | Date of PSU vesting and tax withholding. |
| 02/07/2025 | Date of signature on the Form 4 filing. |
Keywords
Allegion plc, Tracy L. Kemp, Form 4, PSUs, Stock Vesting, Tax Withholding, Ordinary Shares, Beneficial Ownership
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