Form 4: ATI Physical Therapy Director Awarded Stock Options
SEC Form 4 Filing
Director Joanne Burns receives stock options in ATI Physical Therapy, Inc.
Summary
- On August 20, 2024, Joanne Burns, a director of ATI Physical Therapy, Inc., was granted several stock options.
- These options allow her to purchase Class A Common Stock at various prices: $10, $12.5, $25, and $50.
- The options vest in three equal installments on April 1, 2025, April 1, 2026, and April 1, 2027, contingent upon continued service.
- Burns also holds previously awarded stock options with exercise prices of $171 and $87, vesting on anniversaries of November 23, 2021, and March 7, 2022, respectively.
- The expiration date for all newly awarded options is August 20, 2034.
Sentiment
Score: 6
Explanation: The document is neutral, simply reporting the grant of stock options. It's a standard practice, so neither particularly positive nor negative.
Positives
- The granting of stock options to a director aligns her interests with those of the shareholders.
- The vesting schedule encourages continued service and commitment to the company.
Future Outlook
The document does not contain specific forward-looking statements beyond the vesting schedule of the stock options.
Industry Context
Stock option grants are a common practice in the healthcare industry to incentivize and retain key personnel.
Comparison to Industry Standards
- Stock option grants are a standard component of executive compensation packages across various industries, including healthcare.
- The specific terms, such as vesting schedules and exercise prices, are typically benchmarked against peer companies to ensure competitiveness.
- Comparable companies in the physical therapy and healthcare services sector also utilize stock options to align management's interests with shareholder value.
Stakeholder Impact
- The stock option grant could potentially increase shareholder value if the director's performance improves the company's financial results.
- Employees may view the grant as a positive sign of the company's commitment to its leadership.
Key Dates
| Date | Description |
|---|---|
| 11/23/2021 | Date used for vesting of previously granted stock options (adjusted for reverse stock split). |
| 03/07/2022 | Date used for vesting of previously granted stock options (adjusted for reverse stock split). |
| 06/14/2023 | Date of reverse stock split, affecting previously granted stock options. |
| 08/20/2024 | Date of the stock option grant to Joanne Burns. |
| 04/01/2025 | First vesting date for one-third of the newly granted stock options. |
| 04/01/2026 | Second vesting date for one-third of the newly granted stock options. |
| 04/01/2027 | Third vesting date for one-third of the newly granted stock options. |
| 08/20/2034 | Expiration date for the newly granted stock options. |
Keywords
stock options, director, ATI Physical Therapy, ATIP, beneficial ownership, Form 4, Joanne Burns
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