Form 4: Apogee Enterprises Director Alvord Receives Deferred Restricted Stock Units

Christina M. Alvord, a director at Apogee Enterprises, received deferred restricted stock units under the company's 2019 Non-Employee Director Stock Plan.

Summary

• On September 30, 2024, Christina M. Alvord, a director of Apogee Enterprises, Inc., was awarded deferred restricted stock units under the 2019 Non-Employee Director Stock Plan.
• These units will be settled in shares of common stock after Ms. Alvord's termination from the Board or upon other specified events in the Plan.
• The transaction involved 24 shares of common stock at a price of $70.02, resulting in Ms. Alvord directly owning 7,252 shares.
• Additional deferred restricted stock units were allocated due to a dividend equivalent reinvestment feature of the plan.

Sentiment

Score: 7

Explanation: The sentiment is neutral to positive. The transaction reflects standard director compensation practices and aligns interests with shareholders.

Positives

• The director's stock ownership aligns her interests with those of the shareholders.
• The dividend reinvestment feature indicates a long-term commitment to the company's success.

Future Outlook

The deferred restricted stock units will be settled in shares of common stock following the director's termination from the Board in accordance with the election of the reporting person or following the occurrence of other events specified in the Plan.

Industry Context

Director stock ownership is a common practice to align management's interests with shareholders. Stock plans are frequently used to attract and retain qualified board members.

Comparison to Industry Standards

• Director compensation packages often include a mix of cash, stock options, and restricted stock units.
• Companies like Corning, PPG, and Saint-Gobain, which operate in similar industries, also utilize stock-based compensation for their directors.
• The specific terms of these compensation packages vary based on company size, performance, and industry norms.

Stakeholder Impact

• The transaction aligns the director's interests with those of the shareholders.
• The stock ownership may incentivize the director to make decisions that benefit the company's long-term performance.

Key Dates