Form 4: Berry Global Group Executive Acquires Restricted Stock Units

Michael Edward Hill, President of Berry Global Group, acquired 18,129 restricted stock units on November 22, 2024, under the company's 2015 Long-Term Incentive Plan.

Summary

• Michael Edward Hill, President of Berry Global Group, received 18,129 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 routine executive compensation event, which is generally positive for aligning management and shareholder interests. It is not a major event, but it is a positive indicator of management's commitment.

Positives

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

Industry Context

This type of equity grant is a common practice in corporate compensation to incentivize executives and align their interests with shareholders.

Comparison to Industry Standards

• Restricted stock unit grants are a standard form of executive compensation across various industries, including manufacturing and packaging, where Berry Global Group operates.
• Many companies in the S&P 500 use similar long-term incentive plans to reward and retain key personnel.
• The vesting schedule of one-third per year over three years is also a common practice to ensure continued service and performance.

Stakeholder Impact

• The grant of restricted stock units is likely to have a positive impact on shareholders by aligning executive interests with long-term company performance.
• The vesting schedule encourages the executive's continued service, which benefits the company and its stakeholders.

Key Dates

Keywords

restricted stock units, executive compensation, insider transaction, equity grant, BERY, Berry Global Group, incentive plan