Form 4: Apogee Enterprises Director Donald A. Nolan Reports Acquisition of Deferred Restricted Stock Units

Director Donald A. Nolan reports acquiring 2,223 deferred restricted stock units in Apogee Enterprises, Inc.

Summary

• On June 20, 2024, Donald A. Nolan, a director of Apogee Enterprises, Inc., acquired 2,223 deferred restricted stock units.
• These units were awarded under the 2019 Non-Employee Director Stock Plan.
• The deferred restricted stock units will be settled in shares of common stock following the director's termination from the Board or other specified events.
• The units are settled 1-for-1.
• Following the transaction, Nolan beneficially owns 25,953 derivative securities, which includes units acquired through dividend equivalent reinvestment features.

Sentiment

Score: 7

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

Positives

• The acquisition of deferred restricted stock units aligns the director's interests with the long-term performance of the company.
• The dividend equivalent reinvestment feature further incentivizes long-term holding of the stock.

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

This filing is a routine disclosure of a director's stock-based compensation, which is a common practice in publicly traded companies to align management's interests with shareholders'.

Stakeholder Impact

• The acquisition of deferred restricted stock units aligns the director's interests with those of the shareholders, potentially encouraging decisions that benefit the company's long-term value.

Key Dates