4/A: Artivion Executive John E. Davis Amends SEC Filing to Correctly Report Beneficial Ownership After Stock Unit Vesting

John E. Davis, Chief Commercial Officer of Artivion, Inc., files an amended SEC Form 4 to correct the number of shares beneficially owned following a previous reporting error and recent transactions involving performance stock units.

Summary

• John E. Davis, Chief Commercial Officer of Artivion, Inc. (AORT), filed an amended Form 4 with the SEC on March 14, 2024, to correct a previous error in reporting the number of shares beneficially owned.
• The amendment addresses transactions from March 1, 2024, and March 5, 2024, related to Long-Term Incentive Plan (LTIP) performance stock units.
• On March 1, 2024, 5,724 performance stock units were issued.
• On March 5, 2024, 2,022 shares were sold at $18.7222 per share to cover tax withholding obligations upon the vesting of performance stock units.
• The amended filing reflects an increase in the number of shares reported as beneficially owned due to the correction of an administrative error in the original Form 4 related to sell-to-cover transactions on February 26, 2024.
• Following these transactions, Davis directly owns 165,690 shares of Artivion, Inc.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing correcting a previous error. It doesn't contain information that would significantly impact investor sentiment positively or negatively.

Industry Context

This filing is a routine disclosure related to executive compensation and stock ownership, common in publicly traded companies. It provides transparency into the transactions of company insiders.

Comparison to Industry Standards

• Executive compensation practices, including the use of performance stock units and sell-to-cover transactions for tax obligations, are standard across publicly traded companies.
• Companies like Medtronic, Abbott, and Boston Scientific also utilize similar equity-based compensation plans for their executives.
• The reporting requirements and timelines for SEC filings are consistent across the industry, ensuring transparency and regulatory compliance.

Stakeholder Impact

• The correction of the filing ensures accurate information is available to shareholders regarding executive stock ownership.
• The sell-to-cover transaction impacts the company's shareholding structure, albeit in a minor way.

Key Dates