Form 4: Alphabet CIO Porat Reports GSU & Trust Holdings

Alphabet Inc.'s President and CIO, Ruth Porat, reported the acquisition of dividend equivalent units and updated her beneficial ownership of Class C Google Stock Units and Capital Stock, including holdings through various trusts.

Summary

• Ruth Porat, President and CIO of Alphabet Inc., reported changes in her beneficial ownership of Class C Google Stock Units (GSUs) and Class C Capital Stock.
• Acquired 48, 24, and 77 dividend equivalent units (DEUs) on September 15, 2025, at a price of $0, which accrued on her existing GSUs.
• These DEUs entitle her to receive one share of Alphabet Inc. Class C capital stock for each unit as they vest, following the same schedule as the underlying GSUs.
• Beneficially owns 57,076 Class C Google Stock Units (consisting of 375 DEUs and 56,701 GSUs) directly.
• Beneficially owns 28,396 Class C Google Stock Units (consisting of 187 DEUs and 28,209 GSUs) directly.
• Beneficially owns 92,528 Class C Google Stock Units (consisting of 297 DEUs and 92,231 GSUs) directly.
• Directly owns 684,872 shares of Class C Capital Stock.
• Indirectly owns 120,000 shares of Class C Capital Stock through The RAPP 2024 Irrevocable Trust.
• Indirectly owns 200,000 shares of Class C Capital Stock through RAPP 2024 GT Trust One.
• Indirectly owns 975,000 shares of Class C Capital Stock through RAPP 2024 GT Trust Two.

Sentiment

Score: 6

Explanation: The filing reflects routine executive compensation and beneficial ownership updates. The acquisition of dividend equivalent units is a positive for the executive's future equity stake, but the filing itself does not contain new information that would significantly alter the company's outlook or market perception beyond standard compensation practices.

Positives

• Acquisition of dividend equivalent units (DEUs) indicates ongoing compensation and future stock accumulation for the executive.
• Significant beneficial ownership of Alphabet Class C stock, both directly and indirectly through trusts, aligns management interests with shareholders.
• The DEUs vest on the same schedule as the underlying GSUs, providing a clear path to future stock ownership.

Negatives

• No new open market purchases of Alphabet stock were reported, indicating the transactions are primarily compensation-related rather than discretionary open market buys.

Risks

• The value of the GSUs and DEUs is subject to the market price fluctuations of Alphabet Inc. Class C capital stock.
• Vesting of GSUs and DEUs is contingent upon continued employment on applicable vesting dates.

Future Outlook

The filing details future vesting schedules for Google Stock Units and Dividend Equivalent Units extending into 2028, indicating a long-term compensation structure tied to continued employment and company performance.

Management Comments

• No direct quotes or paraphrased statements from company management are included in this Form 4 filing, as it is a statutory report of insider transactions.

Industry Context

This Form 4 filing reflects routine executive compensation practices within large technology companies, where equity awards like GSUs and DEUs are a standard component of remuneration, aligning executive incentives with long-term shareholder value creation. The specific vesting schedules are typical for retaining key talent over multi-year periods.

Comparison to Industry Standards

• Not applicable. This filing reports individual insider transactions and does not contain information suitable for comparison to global benchmarks or specific comparable companies/projects regarding operational or financial results.

Related Party Transactions

• Ruth Porat is the settlor of The RAPP 2024 Irrevocable Trust, and her spouse is a trustee. This trust holds 120,000 shares of Class C Capital Stock.
• Ruth Porat is the grantor and sole annuitant, and her spouse is the sole trustee of RAPP 2024 GT Trust One, which holds 200,000 shares of Class C Capital Stock.
• Ruth Porat is the grantor and sole annuitant, and her spouse is the sole trustee of RAPP 2024 GT Trust Two, which holds 975,000 shares of Class C Capital Stock.

Stakeholder Impact

• Shareholders: The filing provides transparency into executive compensation and beneficial ownership, which is generally positive for corporate governance. The increase in DEUs aligns executive interests with long-term shareholder value.
• Employees: The vesting schedules for GSUs and DEUs are standard components of executive compensation, reflecting typical retention strategies for key personnel.

Next Steps

• Continued vesting of Google Stock Units (GSUs) and Dividend Equivalent Units (DEUs) on various quarterly dates through January 1, 2028, subject to continued employment.

Key Dates

Keywords

Alphabet Inc., GOOGL, Ruth Porat, SEC Form 4, Insider Trading, Beneficial Ownership, Class C Stock, Google Stock Units, GSUs, Dividend Equivalent Units, DEUs, Executive Compensation, Trusts