Form 4: Berry Global Director Settles Restricted Stock Units

Director Sheffield Chaney settled 1,518 restricted stock units for Berry Global Group, Inc. shares on November 20, 2024.

Summary

• Director Sheffield Chaney of Berry Global Group, Inc. settled 1,518 restricted stock units on November 20, 2024.
• These units converted into 1,518 shares of common stock.
• The restricted stock units were granted on November 20, 2023, and vested fully on November 20, 2024.
• The number of restricted stock units was adjusted to reflect the spinoff and merger of BERY's HHNF with Glatfelter Corporation.

Sentiment

Score: 7

Explanation: The document is a routine SEC filing related to executive compensation, indicating a neutral to slightly positive sentiment as it reflects the fulfillment of a previously agreed upon compensation plan.

Industry Context

This is a routine filing related to executive compensation and is common practice for publicly traded companies. It reflects the vesting of previously granted equity awards.

Comparison to Industry Standards

• The vesting of restricted stock units is a standard form of equity compensation for directors and executives in publicly traded companies.
• Many companies use similar vesting schedules, often with a one-year cliff vesting period, as seen in this case.
• The adjustment of the number of units due to a corporate action like a spinoff is also a common practice to maintain the intended value of the award.

Stakeholder Impact

• The transaction has a minor impact on shareholders as it represents a small increase in the number of outstanding shares.
• The transaction is a positive for the director as it represents the vesting of their equity compensation.

Key Dates

Keywords

restricted stock units, insider trading, share settlement, BERY, Berry Global Group, director, equity compensation