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

Director Mark Pompa reports acquisition of phantom stock units and deferred restricted stock units through dividend reinvestment plans.

Summary

• Mark Pompa, a director at Apogee Enterprises, Inc., filed a Form 4 on July 1, 2024, reporting transactions related to the company's stock.
• On June 28, 2024, Pompa acquired additional phantom stock units and deferred restricted stock units under the company's deferred compensation plans for non-employee directors.
• These acquisitions were made through dividend equivalent reinvestment features of the plans.
• Pompa acquired 38 phantom stock units at $62.84 and 78 deferred restricted stock units at $62.84.
• Following these transactions, Pompa directly owns 9,679 phantom stock units and 20,966 deferred restricted stock units.
• 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 specified events.

Sentiment

Score: 6

Explanation: The document reflects routine insider transactions related to director compensation, which is neither particularly positive nor negative. It indicates standard corporate governance practices.

Positives

• The acquisition of stock units through dividend reinvestment indicates confidence in the company's future performance.
• The director's continued participation in deferred compensation plans aligns their interests with those of the shareholders.

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 specified events, as per the terms of the compensation plans.

Industry Context

This filing is a routine disclosure of insider transactions, which are common in publicly traded companies. Directors often receive stock-based compensation as part of their overall remuneration.

Comparison to Industry Standards

• Stock-based compensation for directors is a common practice across publicly traded companies.
• Companies like Corning, PPG, and View, Inc. also utilize stock-based compensation plans for their directors.
• The specific terms and conditions of these plans vary, but the general purpose is to align the interests of the directors with those of the shareholders.

Stakeholder Impact

• The transactions have a minor positive impact on shareholders as they align the director's interests with the company's long-term performance.

Key Dates