Form 4: Bread Financial Holdings Executive Receives Stock Grant, Settles Tax Obligations
SEC Form 4 Filing
Jonathan Bryan Campbell, SVP and Chief Accounting Officer of Bread Financial Holdings, received a grant of restricted stock units and had shares withheld to cover tax obligations.
Summary
- On February 18, 2025, Jonathan Bryan Campbell, SVP, Chief Accounting Officer of Bread Financial Holdings, received 8,498 shares of common stock in the form of time-based restricted stock units (RSUs).
- These RSUs will vest over three years: 2,804 units on February 18, 2026, 2,804 units on February 18, 2027, and 2,890 units on February 18, 2028, contingent upon continued employment.
- On the same day, 3,932 shares were withheld by the company to satisfy Campbell's tax obligations related to the vesting of previous restricted stock units at a price of $62.1.
- Following these transactions, Campbell beneficially owns a total of 40,159 shares, including unrestricted shares and unvested RSUs from previous grants.
Sentiment
Score: 6
Explanation: The document reflects standard executive compensation practices. It's neutral in sentiment as it reports routine transactions.
Positives
- The grant of restricted stock units aligns the executive's interests with the long-term performance of the company.
- The vesting schedule encourages continued employment and commitment from the executive.
Industry Context
Executive compensation practices, including stock grants and RSU awards, are common in the financial services industry to incentivize performance and retain key personnel.
Comparison to Industry Standards
- Stock grants and RSU awards are a typical component of executive compensation packages in the financial services industry.
- Companies like American Express, Capital One, and Discover Financial Services also utilize similar equity-based compensation strategies for their executives.
- The vesting schedules and amounts of these grants are generally aligned with industry benchmarks for companies of similar size and scope.
Stakeholder Impact
- The stock grant could have a minor positive impact on shareholder sentiment by aligning executive interests with company performance.
- The tax withholding has no direct impact on stakeholders.
Key Dates
| Date | Description |
|---|---|
| 02/15/2023 | Date of previous RSU grant of 11,993 time-based restricted stock units, of which 4,078 are unvested. |
| 02/15/2024 | Date of previous RSU grant of 14,049 time-based restricted stock units, of which 9,413 are unvested. |
| 02/18/2025 | Date of the reported transaction: grant of 8,498 RSUs and tax withholding. |
| 02/18/2026 | First vesting date for the new RSU grant (2,804 units). |
| 02/18/2027 | Second vesting date for the new RSU grant (2,804 units). |
| 02/18/2028 | Third vesting date for the new RSU grant (2,890 units). |
| 02/20/2025 | Date of signature on the Form 4 filing. |
Keywords
restricted stock units, RSUs, beneficial ownership, Form 4, Bread Financial Holdings, executive compensation, stock grant, tax withholding
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