Form 4: Alphabet CFO Anat Ashkenazi Reports Acquisition of Dividend Equivalent Units

Alphabet Inc.'s Chief Financial Officer, Anat Ashkenazi, reported the acquisition of additional Class C Google Stock Units (GSUs) in the form of dividend equivalent units (DEUs) following a cash dividend distribution.

Summary

• Anat Ashkenazi, SVP and Chief Financial Officer of Alphabet Inc. (GOOGL), reported changes in her beneficial ownership of Class C Google Stock Units (GSUs) and Class C Capital Stock.
• On June 16, 2025, Ms. Ashkenazi acquired a total of 250 Class C Google Stock Units (83, 39, and 128 units) as dividend equivalent units (DEUs).
• These DEUs accrued on her existing GSUs held as of June 9, 2025, in connection with a cash dividend declared and distributed by Alphabet Inc. on June 16, 2025.
• The DEUs were acquired at a price of $0, as they represent dividend accruals on existing equity awards.
• Following these transactions, Ms. Ashkenazi's beneficial ownership of Class C Google Stock Units increased to a total of 211,995 units, comprising 70,305 units (326 DEUs and 69,979 GSUs), 33,084 units (153 DEUs and 32,931 GSUs), and 108,606 units (258 DEUs and 108,348 GSUs).
• She also directly holds 54,064 shares of Class C Capital Stock.
• The acquired DEUs will vest on the same schedule as the underlying GSUs on which they accrued.
• Specific vesting schedules for the GSUs include: 25% vesting on each March 25, June 25, September 25, and December 25, 2025; another set vesting 25% on each March 25, June 25, September 25, and December 25, 2026; and a third set with a more complex schedule, vesting 15/136th quarterly in 2025 and 19/272nd quarterly from March 25, 2026, through January 1, 2028, all subject to continued employment.

Sentiment

Score: 6

Explanation: The sentiment is neutral to slightly positive. This is a routine insider transaction related to executive compensation (dividend equivalent units), which is an expected part of an executive's equity package and aligns their interests with shareholders. It does not indicate any significant positive or negative operational or financial news.

Positives

• The acquisition of dividend equivalent units (DEUs) indicates that the CFO's existing equity awards are participating in company dividends, aligning her interests with shareholders.
• The increase in the CFO's total beneficial ownership of Class C Google Stock Units (GSUs) through DEUs demonstrates continued equity accumulation and long-term commitment to the company.

Future Outlook

The future outlook primarily involves the vesting of the acquired dividend equivalent units and existing Google Stock Units on various specified dates through December 2026 and into January 2028, contingent upon the CFO's continued employment.

Industry Context

This Form 4 filing represents a routine insider transaction related to executive compensation, specifically the accrual of dividend equivalent units on restricted stock awards. This practice is common across publicly traded companies that offer equity compensation and pay dividends, serving to maintain the value of unvested equity awards in line with dividend distributions to common shareholders.

Stakeholder Impact

• Shareholders: The acquisition of DEUs by the CFO aligns her financial interests more closely with those of common shareholders, as her unvested equity awards benefit from dividends, potentially reinforcing management's incentive to maintain or grow dividends.
• Employees: No direct impact on general employees is indicated by this filing.

Next Steps

• Continued vesting of the Class C Google Stock Units (GSUs) and associated Dividend Equivalent Units (DEUs) on their respective schedules (March 25, June 25, September 25, December 25 for 2025 and 2026, and specific dates in 2027 and 2028), subject to continued employment.

Key Dates

Keywords

Alphabet Inc., GOOGL, SEC Form 4, Insider Transaction, Executive Compensation, Dividend Equivalent Units, Google Stock Units, Anat Ashkenazi, CFO, Equity Awards