Form 4: Benchmark Electronics SVP Stephen J. Beaver Reports Stock Transactions
SEC Form 4 Filing
Stephen J. Beaver, SVP, General Counsel and CLO of Benchmark Electronics, reports the vesting of performance-based restricted stock units and subsequent tax-related share withholding.
Summary
- On February 18, 2025, Stephen J. Beaver exercised performance-based restricted stock units, acquiring 5,844 shares of common stock.
- Also on February 18, 2025, 2,534 shares were withheld to cover taxes related to the vesting of these restricted stock units at a price of $42.08.
- On February 19, 2025, an additional 1,283 shares were withheld for taxes at a price of $42.61.
- Following these transactions, Beaver directly owns 89,733 shares of Benchmark Electronics common stock.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing detailing stock transactions related to executive compensation. It doesn't contain information that would significantly impact investor sentiment positively or negatively.
Industry Context
Form 4 filings are standard disclosures required by the SEC to ensure transparency in stock transactions by company insiders. This filing indicates routine compensation and tax-related activities.
Comparison to Industry Standards
- Executive compensation packages often include performance-based restricted stock units to align management's interests with those of shareholders.
- Tax withholding on vesting shares is a common practice across publicly traded companies.
- The vesting percentage of 43.55% is within the range of typical performance-based vesting schedules, although the potential to earn up to 250% is more aggressive than some companies.
- Companies like Flex, Jabil, and Sanmina also use similar equity compensation strategies for their executives.
Stakeholder Impact
- The vesting of restricted stock units dilutes existing shareholders' equity to a minor extent.
- The transactions do not have a significant impact on employees, customers, suppliers, or creditors.
Key Dates
| Date | Description |
|---|---|
| 12/31/2024 | End of the three-year performance period for the performance-based restricted stock units. |
| 02/18/2025 | Date of transaction: Exercise of performance-based restricted stock units and withholding of shares for taxes. |
| 02/19/2025 | Date of transaction: Additional withholding of shares for taxes. |
| 02/20/2025 | Date of signature on the Form 4 filing. |
Keywords
Form 4, Benchmark Electronics, Stephen J. Beaver, Stock Options, Restricted Stock Units, Beneficial Ownership, Insider Trading
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