Form 4: Amcor PLC Executive Konieczny Peter Reports Stock Transactions

Interim Chief Executive Officer Peter Konieczny reports transactions involving Amcor PLC ordinary shares and derivative securities, including vesting of performance rights, stock options, and restricted stock units.

Summary

• Peter Konieczny, Interim Chief Executive Officer of Amcor PLC, reported transactions on August 26, 2024.
• These transactions involved the vesting of 54,525 performance rights, resulting in the acquisition of ordinary shares.
• Additionally, 50,237 restricted stock units vested, also resulting in the acquisition of ordinary shares.
• 2,663 shares were withheld for tax purposes related to the equity incentive plan vesting.
• 130,700 employee stock options vested, while the remaining options were forfeited.
• Konieczny also acquired 48,766 restricted stock units.

Sentiment

Score: 6

Explanation: The document reflects standard executive compensation practices. The vesting of equity awards is generally positive, but the forfeiture of some awards and tax withholding are neutral factors.

Positives

• The vesting of performance rights, restricted stock units, and employee stock options indicates that certain performance conditions and time-based criteria were met.
• The acquisition of shares through these vesting events increases the executive's stake in the company, aligning their interests with those of shareholders.

Negatives

• The forfeiture of unvested performance rights and employee stock options suggests that certain performance targets or conditions were not fully achieved.
• The withholding of shares for tax obligations reduces the number of shares actually received by the executive.

Risks

• The share price condition for the employee stock options to be exercisable introduces a risk, as the options will only be valuable if the share price exceeds the exercise price.
• Future vesting of restricted stock units is contingent on continued employment and may be subject to other conditions.

Future Outlook

Future vesting of restricted stock units is scheduled for September 1, 2026.

Industry Context

This Form 4 filing is a routine disclosure required by the SEC for corporate insiders, providing transparency into their transactions in the company's securities. It is common for executives to receive equity-based compensation, and the vesting of these awards is a regular occurrence.

Comparison to Industry Standards

• Equity compensation practices vary across industries, but it is common for companies to use a mix of stock options, restricted stock units, and performance-based awards to incentivize executives.
• Vesting schedules and performance conditions are typically designed to align executive compensation with long-term shareholder value creation.
• Companies like Ball Corporation and Crown Holdings, Inc., which are also in the packaging industry, use similar equity compensation plans for their executives.

Stakeholder Impact

• The vesting of equity awards aligns the executive's interests with those of shareholders, as their compensation is tied to the company's performance.
• The transactions have a minimal direct impact on employees, customers, suppliers, or creditors.

Next Steps

• The executive may exercise the vested stock options if the share price exceeds the exercise price.
• The executive will receive ordinary shares upon the vesting of the restricted stock units on September 1, 2026.

Key Dates