Form 4: Brink's CEO Richard Eubanks Increases Stake Through Deferred Compensation Program

Brink's Co. President and CEO Richard M. Eubanks acquired 127.39 Program Units, equivalent to common stock, as part of a deferred compensation plan, increasing his beneficial ownership to 14,248.56 units.

Summary

• Richard M. Eubanks, President and CEO of Brink's Co. (BCO), acquired 127.39 Program Units on June 30, 2025.
• These Program Units are the economic equivalent of one share of Brink's common stock and will settle on a one-for-one basis in BCO common stock.
• The acquisition was made under the Key Employees' Deferral Compensation Program, where deferred compensation and/or matching amounts are converted into Program Units monthly.
• The units were credited to his stock incentive account based on a share price of $89.29, which was the closing price of BCO common stock on the transaction date.
• Following this transaction, Mr. Eubanks directly beneficially owns 14,248.56 Program Units.
• The Program Units are scheduled for distribution either upon termination of employment or on a future date selected by Mr. Eubanks at the time of his deferral election.

Sentiment

Score: 7

Explanation: The acquisition of additional equity-equivalent units by a top executive, even as part of a compensation program, generally signals confidence in the company's future and aligns management's interests with shareholders. This is a routine, positive event.

Positives

• Increased beneficial ownership by a key executive (President and CEO) through a compensation program, which aligns management interests with shareholders.
• The acquisition of 127.39 Program Units at a price of $89.29 per unit demonstrates continued participation in the company's long-term incentive plans.

Future Outlook

The Program Units acquired will settle in Brink's common stock on a one-for-one basis and will be distributed in accordance with the Reporting Person's deferral election, either following termination of employment or on a future selected date.

Management Comments

• Program Units (each of which is the economic equivalent of one share of The Brink's Company ("BCO") common stock) credited to the Reporting Person's stock incentive account under the terms of the Key Employees' Deferral Compensation Program (the "Program") will settle in BCO common stock on a one-for-one basis and shall be distributed in accordance with the Reporting Person's deferral election either (1) following the Reporting Person's termination of employment with BCO or (2) on a future date selected by the Reporting Person at the time of his or her deferral election.
• In accordance with the terms of the Program, on the last business day of each month, compensation deferred by the Reporting Person during that month and/or any matching amounts are converted into Program Units and credited to the Reporting Person's stock incentive account.
• The number of Program Units credited to the Reporting Person's account on the transaction date is based upon a share price of $89.29, which is the closing price of BCO common stock on the final trading day of the month in which the deferred compensation would have been payable, calculated in accordance with the terms of the Program.

Industry Context

This transaction is a routine executive compensation event, common across publicly traded companies, where executives receive equity-linked incentives as part of their remuneration packages, aligning their long-term interests with shareholder value.

Comparison to Industry Standards

• The use of deferred compensation programs with equity-linked units, such as Program Units, is a standard practice in executive compensation across various industries, including the security and logistics sectors where Brink's operates.
• Many companies, including peers in the industrial services and security sectors, utilize similar long-term incentive plans to retain key talent and incentivize performance, often tying compensation to the company's stock performance.
• While specific program details vary, the fundamental structure of converting deferred compensation into equity equivalents at market prices is consistent with common corporate governance and compensation strategies seen in companies like G4S (now part of Allied Universal) or Securitas AB, which also employ various forms of equity-based incentives for their leadership.

Related Party Transactions

• The acquisition of Program Units by Richard M. Eubanks is a transaction under the Key Employees' Deferral Compensation Program, which is an arrangement between the company and its executive, thus constituting a related party transaction in the context of executive compensation.

Stakeholder Impact

• Shareholders: Positive impact due to increased alignment of the CEO's financial interests with the company's stock performance, potentially leading to more shareholder-friendly decisions.
• Employees: No direct impact on general employees, but it reinforces the company's executive compensation structure.
• Customers/Suppliers/Creditors: No direct impact from this specific insider transaction.

Next Steps

• The acquired Program Units will settle in Brink's common stock on a one-for-one basis.
• Distribution of the Program Units will occur either following the Reporting Person's termination of employment or on a future date selected by the Reporting Person at the time of deferral election.

Key Dates

Recommendation

Keywords

Brinks Co, BCO, Richard M. Eubanks, SEC Form 4, Insider Transaction, Deferred Compensation, Program Units, Executive Compensation, Stock Incentive Account, Beneficial Ownership