Form 4: Apogee Enterprises Director Mark A. Pompa Reports Acquisition of Phantom Stock Units and Deferred Restricted Stock Units

Director Mark A. Pompa reports the acquisition of phantom stock units and deferred restricted stock units in Apogee Enterprises, Inc. through dividend equivalent reinvestment and compensation plans.

Summary

• On March 28, 2024, Mark A. Pompa, a director of Apogee Enterprises, Inc., acquired additional phantom stock units and deferred restricted stock units.
• These acquisitions were made under the Deferred Compensation Plan for Non-Employee Directors and the 2009/2019 Non-Employee Director Stock Incentive Plans.
• 41 phantom stock units were acquired at a price of $59.2, bringing the total owned to 9,641.
• 79 deferred restricted stock units were acquired at a price of $59.2, bringing the total owned to 18,995.
• The acquisitions were a result of dividend equivalent reinvestment features of the plans.
• The units will be settled in shares of common stock following the director's termination from the Board or other specified events.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. It reflects routine insider transactions, indicating confidence in the company's future, but without any extraordinary events.

Positives

• The acquisition of stock units demonstrates the director's continued investment and alignment with the company's long-term success.
• The dividend reinvestment feature allows for incremental increases in holdings without direct cash outlay.

Future Outlook

The phantom stock units and deferred restricted stock units will be settled in shares of common stock following the director's termination from the Board or other events specified in the plans.

Industry Context

This filing is a routine disclosure of stock ownership changes by a company insider, which is common in publicly traded companies. It provides transparency to investors regarding the holdings and transactions of key personnel.

Comparison to Industry Standards

• Director compensation packages often include stock and stock-based awards to align their interests with shareholders.
• Dividend reinvestment programs are a common feature in deferred compensation plans.
• The specifics of these plans vary across companies and are often benchmarked against industry peers to attract and retain talent.
• Comparing Apogee's director compensation structure with companies like Oldcastle BuildingEnvelope or Kawneer (if data is available) could provide further context.

Stakeholder Impact

• The transaction has a minor positive impact on shareholders as it aligns the director's interests with the company's performance.
• There is no immediate impact on employees, customers, suppliers, or creditors.

Key Dates