Form 4: Bristow Group COO Alan Corbett Reports Stock Transactions Following PSU Vesting
SEC Form 4 Filing
Alan Corbett, COO of Government Services at Bristow Group Inc., reports the vesting of performance-based stock units and subsequent transactions involving common stock.
Summary
- On May 10, 2024, Alan Corbett, COO of Government Services at Bristow Group Inc., had shares of common stock vest due to the satisfaction of performance criteria related to Cash Return on Invested Capital (Cash ROIC) and Relative Total Stockholder Return (RTSR) performance-based stock units (PSUs).
- A total of 4,652 shares vested from Cash ROIC PSUs and 3,012 shares vested from RTSR PSUs.
- Shares were withheld to cover associated tax liabilities: 2,280 shares for Cash ROIC PSUs and 1,476 shares for RTSR PSUs.
- Following these transactions, Corbett directly owns 81,406 shares of Bristow Group Inc. common stock.
Sentiment
Score: 7
Explanation: The sentiment is neutral to slightly positive. The vesting of PSUs indicates that performance targets were met, which is a positive signal. However, the filing itself is a routine disclosure.
Positives
- The vesting of performance-based stock units suggests that the company has met certain performance targets related to Cash Return on Invested Capital and Relative Total Stockholder Return.
Industry Context
This filing is a routine disclosure related to executive compensation and stock ownership, common in publicly traded companies. It reflects the alignment of executive incentives with company performance.
Comparison to Industry Standards
- Executive compensation packages including performance-based stock units are standard practice among publicly traded companies, particularly in the aviation and aerospace industries.
- Companies like Lockheed Martin, Boeing, and Textron also utilize similar equity-based compensation plans to incentivize executives and align their interests with shareholder value.
Stakeholder Impact
- The vesting of stock units can be viewed positively by shareholders as it aligns executive compensation with company performance.
- Employees may also view this positively as it indicates the company is achieving its goals.
Key Dates
| Date | Description |
|---|---|
| 06/01/2021 | Date the Cash ROIC PSUs and RTSR PSUs were granted to the Reporting Person under the terms of the Issuer's 2021 Equity Incentive Plan. |
| 05/10/2024 | Date of the transactions: vesting of Cash ROIC and RTSR performance-based stock units. |
| 05/14/2024 | Date of signature on the Form 4 filing. |
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