Form 4: B&G Foods EVP Scott Lerner Reports Changes in Beneficial Ownership
SEC Form 4 Filing
Scott Lerner, EVP & General Counsel of B&G Foods, reports acquisition of restricted stock and disposition of shares to cover tax obligations.
Summary
- On March 25, 2024, Scott Lerner, EVP & General Counsel of B&G Foods, acquired 26,648 shares of restricted stock.
- These shares were granted under the B&G Foods, Inc. Omnibus Incentive Compensation Plan.
- The restricted stock vests in three equal installments on March 25, 2025, March 25, 2026, and March 25, 2027.
- Also on March 25, 2024, 2,773 shares of common stock were withheld by B&G Foods to cover tax obligations related to the vesting of 8,094 shares of restricted stock.
- These 8,094 shares vested on March 25, 2024, representing one-third of the total restricted stock issued to Lerner on March 25, 2021, March 25, 2022, and March 24, 2023.
- Following these transactions, Lerner directly owns 177,389 shares of B&G Foods common stock.
Sentiment
Score: 5
Explanation: The document is a standard SEC filing detailing stock transactions, indicating a neutral sentiment.
Industry Context
This filing is a routine disclosure related to executive compensation and stock ownership, common in publicly traded companies.
Stakeholder Impact
- The filing provides transparency to shareholders regarding executive compensation and stock ownership.
Key Dates
| Date | Description |
|---|---|
| 03/25/2021 | Date of initial restricted stock grant (one-third of which vested on 03/25/2024) |
| 03/25/2022 | Date of subsequent restricted stock grant (one-third of which vested on 03/25/2024) |
| 03/24/2023 | Date of subsequent restricted stock grant (one-third of which vested on 03/25/2024) |
| 03/25/2024 | Date of transaction: Acquisition of restricted stock and disposition of shares for tax obligations. |
| 03/25/2025 | First vesting date for the restricted stock acquired on 03/25/2024 (one-third vests). |
| 03/25/2026 | Second vesting date for the restricted stock acquired on 03/25/2024 (one-third vests). |
| 03/25/2027 | Final vesting date for the restricted stock acquired on 03/25/2024 (one-third vests). |
| 03/27/2024 | Date of signature on the Form 4 filing. |
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