Form 4: Bank of New York Mellon Executive Regelman Reports Stock Award and Tax Withholding

Sr. Executive Vice President Roman Regelman of Bank of New York Mellon Corp reports acquisition of shares through performance share units and disposition of shares for tax liability.

Summary

• On February 23, 2024, Roman Regelman, a Sr. Executive Vice President at Bank of New York Mellon Corp, acquired 40,469.57 shares of common stock due to the achievement of performance goals related to Performance Share Units granted in February 2021.
• These units included reinvested dividend equivalents, with each unit representing the right to one share of the issuer's common stock.
• On the same day, Regelman disposed of 19,023 shares at a price of $55.64 to cover tax liabilities.
• Following these transactions, Regelman beneficially owns 151,463.831 shares of Bank of New York Mellon Corp common stock.

Sentiment

Score: 6

Explanation: The sentiment is neutral. It reflects a standard executive compensation transaction. The acquisition of shares due to performance achievement is mildly positive, while the tax-related disposal is neutral.

Positives

• The acquisition of shares indicates achievement of performance goals, which could be viewed positively.

Negatives

• The disposal of shares to cover tax liability, while normal, reduces the executive's holdings.

Industry Context

Form 4 filings are routine disclosures required by the SEC to provide transparency into the transactions of company insiders. This filing indicates standard compensation practices and tax obligations for executives at Bank of New York Mellon.

Comparison to Industry Standards

• Performance-based equity compensation is a common practice among large financial institutions like Bank of New York Mellon.
• Companies such as JP Morgan Chase, Goldman Sachs, and Morgan Stanley also utilize similar compensation structures to incentivize executive performance.
• The vesting and payout of performance share units are typically tied to specific financial or operational metrics, aligning executive interests with shareholder value.

Stakeholder Impact

• The transaction has a minimal direct impact on stakeholders.
• It provides transparency to shareholders regarding executive compensation and ownership.

Key Dates