Form 4: AllianceBernstein Executive Catherine Spencer Reports Share Transactions
SEC Form 4 Filing
AllianceBernstein's Chief People Officer, Catherine Spencer, reported the distribution and acquisition of AB Holding Units on December 2, 2024, including units withheld for tax purposes.
Summary
- Catherine Spencer, Chief People Officer at AllianceBernstein, reported transactions involving AB Holding Units on December 2, 2024.
- 16,034 AB Holding Units were distributed to Ms. Spencer from a rabbi trust under an employee incentive compensation award program.
- Of the distributed units, 4,020 were withheld for tax purposes, and 12,014 were delivered to her.
- Ms. Spencer also acquired 12,014 AB Holding Units.
- Following these transactions, Ms. Spencer directly owns 72,711 AB Holding Units and indirectly owns 16,724 AB Holding Units through a rabbi trust.
- The price of an AB Holding Unit was $36.27 on November 29, 2024.
Sentiment
Score: 7
Explanation: The document reflects standard executive compensation practices and does not indicate any unusual or concerning activity. The transactions are routine and expected.
Industry Context
This filing is a routine disclosure of share transactions by a company executive, which is common practice in the financial industry to ensure transparency and compliance with securities regulations.
Comparison to Industry Standards
- Similar filings are common across publicly traded companies, particularly in the financial sector, where executive compensation often includes equity-based awards.
- The use of rabbi trusts for deferred compensation is a standard practice to manage tax implications for executives.
- The reporting of these transactions is consistent with SEC regulations for insider trading and beneficial ownership.
Stakeholder Impact
- The transactions have a minor positive impact on Ms. Spencer's holdings in the company.
- The transactions are unlikely to have a significant impact on other stakeholders.
Key Dates
| Date | Description |
|---|---|
| 11/29/2024 | Closing price of an AB Holding Unit was $36.27. |
| 12/02/2024 | Distribution of 16,034 AB Holding Units to Catherine Spencer, with 4,020 withheld for taxes and 12,014 delivered. Acquisition of 12,014 AB Holding Units by Catherine Spencer. |
| 12/04/2024 | Date of signature for the SEC Form 4 filing. |
Keywords
AllianceBernstein, AB Holding Units, Catherine Spencer, executive compensation, rabbi trust, share transactions, insider trading
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