Form 4: Berry Global Group CFO Awarded Restricted Stock Units

Berry Global Group's Chief Financial Officer, Mark W. Miles, was granted 27,891 restricted stock units on November 22, 2024.

Summary

• Mark W. Miles, the Chief Financial Officer of Berry Global Group, was granted 27,891 restricted stock units on November 22, 2024.
• These restricted stock units were awarded under the company's 2015 Long-Term Incentive Plan.
• Each restricted stock unit represents the right to receive one share of Berry Global Group common stock.
• The restricted stock units will 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 routine executive compensation practice, which is generally viewed positively as it aligns management interests with shareholders. There are no negative implications.

Positives

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

Future Outlook

The restricted stock units will vest over the next three years, subject to the terms of the plan and award agreement.

Industry Context

The granting of restricted stock units is a common practice in corporate compensation to incentivize executives and align their interests with shareholders.

Comparison to Industry Standards

• Many public companies use restricted stock units as part of their executive compensation packages.
• The vesting schedule of one-third annually over three years is a typical vesting structure for these types of grants.
• Companies like Amcor and Sealed Air also use similar equity-based compensation plans for their executives.

Stakeholder Impact

• Shareholders may view this as a positive sign of aligning management's interests with the company's long-term performance.
• Employees may see this as a standard practice for executive compensation.

Key Dates

Keywords

restricted stock units, executive compensation, stock options, incentive plan, BERY, Berry Global Group, CFO, Mark W. Miles