Form 4: BlackBerry Director Michael Daniels Acquires 19,492 Deferred Share Units

BlackBerry director Michael Daniels acquired 19,492 deferred share units, which are economically equivalent to common shares, on November 30, 2024.

Summary

• Michael Daniels, a director at BlackBerry Limited, acquired 19,492 deferred share units (DSUs) on November 30, 2024.
• Each DSU is equivalent to one common share of BlackBerry.
• The DSUs will be payable in cash, common shares, or a combination of both, at BlackBerry's discretion, after Mr. Daniels ceases to be a director.
• Following this transaction, Mr. Daniels directly owns 349,492 DSUs.

Sentiment

Score: 7

Explanation: The document is a routine disclosure of a director's share-based compensation, which is a neutral event. The sentiment is slightly positive as it indicates alignment of interests between the director and the company.

Future Outlook

The deferred share units will be payable in cash or common shares, or a combination of both, at BlackBerry's discretion, following the cessation of Mr. Daniels' service as a director.

Industry Context

This transaction is a routine disclosure of a director's share-based compensation and is common practice for publicly traded companies.

Comparison to Industry Standards

• The use of deferred share units as a form of director compensation is a common practice among publicly listed companies, including technology firms like BlackBerry.
• Many companies use similar mechanisms to align the interests of directors with those of shareholders, such as restricted stock units or stock options.
• The vesting and payout terms of these units are generally consistent with industry standards, typically occurring after the director's service ends.

Stakeholder Impact

• The transaction has a minor positive impact on shareholders as it aligns the director's interests with the company's performance.

Key Dates

Keywords

BlackBerry, Deferred Share Units, Director, Michael Daniels, DSU, Share Ownership, SEC Form 4