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

Christina M. Alvord, a director at Apogee Enterprises, was awarded 1,893 deferred restricted stock units under the company's 2019 Non-Employee Director Stock Plan.

Summary

• On June 20, 2024, Christina M. Alvord, a director of Apogee Enterprises, Inc., was granted 1,893 deferred restricted stock units.
• These units were awarded under the company's 2019 Non-Employee Director Stock Plan.
• The deferred restricted stock units will be settled in shares of common stock after Ms. Alvord's termination from the Board, based on her election or other specified events in the Plan.
• The price of the deferred restricted stock units is $0, and they are settled 1-for-1.
• Following the transaction, Ms. Alvord beneficially owns 7,206 deferred restricted stock units, which includes units acquired through a dividend equivalent reinvestment feature of the plan.

Sentiment

Score: 7

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

Positives

• The award of deferred restricted stock units aligns the director's interests with the long-term performance of the company.
• The dividend equivalent reinvestment feature allows for increased ownership over time.

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

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This filing indicates standard compensation practices for board members.

Comparison to Industry Standards

• Deferred stock units are a common form of compensation for directors in publicly traded companies.
• Companies like Corning, Owens Corning, and Masco also use stock-based compensation for their board members to align their interests with shareholders.
• The specific terms and amounts of these grants vary based on company size, performance, and industry practices.

Stakeholder Impact

• Shareholders: Transparency in director compensation.
• Employees: No direct impact.
• Customers: No direct impact.
• Suppliers: No direct impact.
• Creditors: No direct impact.

Key Dates