Form 4: Axos Financial Director Stefani D. Carter Receives Stock Units

Director Stefani D. Carter of Axos Financial, Inc. was granted 4,289 restricted stock units (RSUs) as part of her board compensation.

Summary

• Stefani D. Carter, a director at Axos Financial, Inc., received 4,289 restricted stock units (RSUs) on November 14, 2024.
• These RSUs were granted under the company's 2014 Stock Incentive Plan as part of her compensation for serving on the Board of Directors.
• The grant date was changed from August to the date of the annual meeting of stockholders.
• The number of RSUs was determined by dividing approved dollar amounts by the closing stock price on the grant date, with additional amounts included due to the delayed grant date.
• Each RSU represents the right to receive one share of Axos Financial, Inc. common stock.
• The RSUs will fully vest on the anniversary of the grant date.

Sentiment

Score: 7

Explanation: The document reflects a routine compensation event, which is generally positive for aligning director interests with shareholders. There are no negative implications.

Positives

• The grant of RSUs aligns director compensation with the company's stock performance.
• The change in grant date to the annual meeting date may improve alignment with shareholder interests.
• The additional amounts included in this year's grant address the delayed grant date.

Industry Context

The granting of stock-based compensation to board members is a common practice in publicly traded companies to align their interests with those of shareholders.

Comparison to Industry Standards

• Stock-based compensation for directors is a standard practice across the financial industry.
• The specific terms of the grant, such as vesting schedules and valuation methods, are generally consistent with industry norms.
• Companies like JPMorgan Chase, Bank of America, and Citigroup also use stock-based compensation for their board members, though the specific amounts and terms vary.

Corporate Governance

Stakeholder Impact

• Shareholders may view the RSU grant as a positive step in aligning director interests with company performance.
• The grant does not have a direct impact on employees, customers, or suppliers.

Key Dates

Keywords

Axos Financial, Restricted Stock Units, RSUs, Director Compensation, Stock Incentive Plan, Board of Directors, Equity Compensation