Form 4: Belden Inc. CEO Ashish Chand Reports Changes in Beneficial Ownership Following PSU Conversion and RSU Grant

Ashish Chand, President and CEO of Belden Inc., reports changes in beneficial ownership due to the conversion of performance stock units (PSUs) and a grant of restricted stock units (RSUs).

Summary

• Ashish Chand, the President and CEO of Belden Inc., filed a Form 4 to report changes in his beneficial ownership of the company's stock.
• On February 26, 2025, Mr. Chand received 27,246 shares of common stock after tax withholding following the conversion of performance stock units (PSUs).
• The conversion factor of 1.935 was approved by the Company's Compensation Committee on February 26, 2025, and applied to the PSUs, resulting in an award of 57,791 shares before tax withholding.
• Mr. Chand also received 22,492 restricted stock units (RSUs) on February 26, 2025, which will vest in installments over the next three years.
• 25% of the RSUs will vest on February 26, 2026, 25% on February 26, 2027, and 50% on February 26, 2028.
• Mr. Chand also has 1,009.7293 shares held indirectly through the Belden Retirement Savings Plan.
• Following these transactions, Mr. Chand directly owns 160,643 shares of Belden Inc. common stock.

Sentiment

Score: 7

Explanation: The sentiment is neutral to positive. The PSU conversion suggests past performance achievements, and the RSU grant indicates continued investment in the CEO's leadership. There are no explicit negative indicators.

Positives

• The vesting of RSUs could incentivize the CEO to improve company performance.
• The PSU conversion reflects the achievement of performance goals over the three-year performance period.

Future Outlook

The RSUs will vest over the next three years, incentivizing continued performance from the CEO.

Industry Context

Executive compensation through stock options and RSUs is a common practice in publicly traded companies to align management's interests with those of shareholders.

Comparison to Industry Standards

• Belden's executive compensation practices, including PSU and RSU grants, are generally in line with industry standards for companies of similar size and scope.
• Companies like Amphenol and TE Connectivity also utilize similar equity-based compensation plans for their executives.
• The vesting schedules and performance metrics associated with these grants are typically designed to incentivize long-term value creation for shareholders.

Stakeholder Impact

• The equity grants align the CEO's interests with those of shareholders, potentially driving long-term value creation.
• Employees may be indirectly impacted by the CEO's incentives to improve company performance.

Next Steps

• The RSUs will continue to vest over the next three years according to the vesting schedule.

Key Dates