Form 4: Berry Global Group Director Acquires Restricted Stock Units

Director Meredith Harper acquired 2,092 restricted stock units of Berry Global Group, Inc. on November 22, 2024.

Summary

• Meredith Harper, a director at Berry Global Group, Inc., acquired 2,092 restricted stock units on November 22, 2024.
• These restricted stock units represent a contingent right to receive one share of BERY common stock each.
• The units were granted under the 2015 Long-Term Incentive Plan.
• The restricted stock units will vest in full on the first anniversary of the grant date.
• Shares of BERY common stock will be delivered to the reporting person within 60 days following the vesting date.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction of stock units to a director, which is generally viewed as a positive sign of alignment between management and shareholders. It is not a major event but is a normal part of corporate governance.

Positives

• The acquisition of restricted stock units by a director signals confidence in the company's future performance.
• The vesting schedule aligns the director's interests with the long-term success of the company.

Future Outlook

The restricted stock units will vest on the first anniversary of the grant date, and shares will be delivered within 60 days of vesting.

Industry Context

This is a standard practice for compensating directors and aligning their interests with shareholders in publicly traded companies.

Comparison to Industry Standards

• Granting restricted stock units to directors is a common practice across various industries, including packaging and manufacturing, to incentivize performance and align interests with shareholders.
• Many companies in the S&P 500 use similar long-term incentive plans, often with vesting periods of one to three years.
• Companies like Amcor and Sealed Air, which are competitors in the packaging industry, also use equity-based compensation for their directors.

Stakeholder Impact

• The acquisition of restricted stock units by a director can be viewed positively by shareholders as it aligns the director's interests with the company's long-term performance.
• Employees may see this as a positive sign of the company's commitment to its leadership.

Next Steps

• The restricted stock units will vest on the first anniversary of the grant date.
• Shares of BERY common stock will be delivered to the reporting person within 60 days following the vesting date.

Key Dates

Keywords

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