Form 4: Broadcom Director Gayla J. Delly Receives Restricted Stock Units

Director Gayla J. Delly of Broadcom Inc. was granted 189 restricted stock units (RSUs) on April 22, 2024, which will vest on the earlier of the first anniversary of the grant date or the next annual shareholder meeting.

Summary

• Gayla J. Delly, a director at Broadcom Inc., received 189 restricted stock units (RSUs) on April 22, 2024.
• These RSUs will convert to one share of Broadcom common stock each upon vesting.
• The vesting date is the earlier of April 22, 2025, or the date of the next annual shareholder meeting, provided Ms. Delly remains a director.
• Following this transaction, Ms. Delly beneficially owns 3,550 shares of Broadcom stock, including the 189 RSUs.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction of granting RSUs to a director, which is a standard practice. It is neither particularly positive nor negative, but indicates alignment of interests.

Positives

• The grant of RSUs aligns the director's interests with those of the shareholders.
• The vesting schedule encourages continued service on the board.

Future Outlook

The RSUs will vest on the earlier of the first anniversary of the grant date or the next annual shareholder meeting, subject to continued service.

Industry Context

The granting of RSUs to directors is a common practice in the technology industry to incentivize and retain board members.

Comparison to Industry Standards

• Many technology companies use restricted stock units as part of their compensation packages for directors.
• The vesting schedule of one year or the next annual meeting is typical for such grants.
• Companies like Qualcomm, Intel, and Nvidia also use similar equity-based compensation for their board members.

Stakeholder Impact

• The grant of RSUs aligns the director's interests with those of the shareholders.
• The vesting schedule encourages continued service on the board, which is beneficial for the company.

Next Steps

• The RSUs will vest on the earlier of April 22, 2025, or the date of the next annual shareholder meeting, provided Ms. Delly remains a director.

Key Dates

Keywords

restricted stock units, RSU, stock grant, director, beneficial ownership, Broadcom, AVGO, equity compensation