Form 4: Berry Global Director Stephen Sterrett Acquires Shares Through Vesting of Restricted Stock Units

Director Stephen Sterrett of Berry Global Group, Inc. acquired 3,880 shares of common stock through the vesting of restricted stock units.

Summary

• Stephen Sterrett, a director at Berry Global Group, Inc., acquired 3,880 shares of common stock on November 20, 2024.
• This acquisition resulted from the vesting of restricted stock units that were granted on November 20, 2023.
• The restricted stock units vested in full on November 20, 2024, and each unit represents the right to receive one share of BERY common stock.
• 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 reflects a routine transaction related to executive compensation. It is a positive sign that the director is acquiring shares, but it is not a major event that would significantly impact the company's outlook.

Positives

• The vesting of restricted stock units indicates that the director has met the conditions for receiving the shares.
• The acquisition of shares by a director can be seen as a positive sign of confidence in the company.

Industry Context

This is a standard transaction for company directors who receive stock-based compensation. It is common for companies to use restricted stock units as part of their compensation packages to align the interests of management with those of shareholders.

Comparison to Industry Standards

• The use of restricted stock units as compensation is a common practice among publicly traded companies, including Berry Global's peers in the packaging and manufacturing industries.
• Companies like Amcor and Sealed Air also use similar equity-based compensation plans for their executives and directors.
• The vesting schedule of one year is also fairly standard for these types of grants.

Stakeholder Impact

• The acquisition of shares by a director can be viewed positively by shareholders as it aligns the director's interests with those of the shareholders.

Key Dates

Keywords

Berry Global, BERY, Director, Stephen Sterrett, Restricted Stock Units, Share Acquisition, Vesting, SEC Form 4