Form 4: AEP Executive Vice President Antonio Smyth Reports Stock Unit Vesting and Tax Withholding
SEC Form 4 Filing
Antonio Smyth, Executive Vice President of American Electric Power, reports the vesting of restricted stock units and subsequent withholding for tax liabilities.
Summary
- On May 1, 2024, Antonio Smyth, Executive Vice President of American Electric Power (AEP), had restricted stock units vest.
- A portion of the restricted stock units granted on February 21, 2021, vested, resulting in 124 units withheld to cover tax obligations at a price of $88.15.
- Additionally, a portion of the restricted stock units granted on April 25, 2022, vested, with 652 units withheld for tax purposes at the same price of $88.15.
- Following these transactions, Smyth directly owns 11,344 shares of AEP common stock.
Sentiment
Score: 5
Explanation: This is a routine regulatory filing related to executive compensation, and it doesn't inherently indicate positive or negative sentiment. It's a neutral event.
Industry Context
Form 4 filings are a routine part of executive compensation and provide transparency into the transactions of company insiders. Vesting of stock options and units is a common practice.
Stakeholder Impact
- The vesting of stock units and subsequent tax withholding has a minor dilutive effect on existing shareholders.
Key Dates
| Date | Description |
|---|---|
| February 21, 2021 | Grant date of a portion of the restricted stock units that vested on May 1, 2024. |
| April 25, 2022 | Grant date of a portion of the restricted stock units that vested on May 1, 2024. |
| May 1, 2024 | Date of restricted stock unit vesting and tax withholding. |
| May 02, 2024 | Date of Form 4 filing. |
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