Form 4: Berry Global CEO Awarded 100,405 Restricted Stock Units

Berry Global's CEO, Kevin J. Kwilinski, was granted 100,405 restricted stock units under the company's 2015 Long-Term Incentive Plan.

Summary

• Kevin J. Kwilinski, CEO of Berry Global Group, Inc., received 100,405 restricted stock units on November 22, 2024.
• These units were granted under the company's 2015 Long-Term Incentive Plan.
• Each restricted stock unit represents a contingent right to receive one share of BERY common stock.
• The restricted stock units vest in three equal installments, with one-third vesting on each of the first three anniversaries of the grant date.

Sentiment

Score: 7

Explanation: The document reflects a standard executive compensation practice, which is generally viewed positively as it aligns management and shareholder interests. There are no negative implications.

Positives

• The grant of restricted stock units aligns the CEO's interests with those of the shareholders.
• The vesting schedule encourages long-term performance and retention of the CEO.

Industry Context

The granting of restricted stock units is a common practice in executive compensation, particularly in publicly traded companies, to incentivize performance and align management's interests with those of shareholders.

Comparison to Industry Standards

• The use of restricted stock units as part of executive compensation is a standard practice across many industries, including packaging and manufacturing, where Berry Global operates.
• Companies like Amcor and Sealed Air also use similar long-term incentive plans to reward their executives.
• The vesting schedule of one-third annually over three years is also a common vesting structure.

Stakeholder Impact

• Shareholders may view the grant positively as it incentivizes the CEO to focus on long-term value creation.
• Employees may see this as a sign of the company's commitment to its leadership.

Key Dates

Keywords

Restricted Stock Units, Incentive Plan, Executive Compensation, Stock Options, BERY, Berry Global, Kevin J. Kwilinski