Form 4: CACI Executive DeEtte Gray Reports Stock Transactions
SEC Form 4
DeEtte Gray, President of US Operations at CACI International, reports the vesting and disposal of restricted stock units and performance restricted stock units on October 1, 2024.
Summary
- On October 1, 2024, DeEtte Gray, President of US Operations at CACI International, engaged in multiple transactions involving CACI common stock.
- These transactions included the vesting of performance restricted stock units (PRSUs) and restricted stock units (RSUs) granted in previous years.
- Ms. Gray also disposed of shares to cover tax obligations associated with the vesting of these units.
- Additionally, Ms. Gray was granted 1,978 restricted stock units and 1,978 performance restricted stock units on October 1, 2024.
- Following these transactions, Ms. Gray directly owns 29,666 shares of CACI common stock and 4,102 derivative securities.
Sentiment
Score: 5
Explanation: This is a routine filing related to executive compensation. It doesn't indicate any significant positive or negative sentiment.
Future Outlook
The newly granted restricted stock units will vest 1/3 per year for three years, while the performance restricted stock units will vest on the third anniversary of the grant date based on the achievement of a three-year performance measure.
Industry Context
Form 4 filings are standard practice and provide transparency into the trading activities of company insiders, which can be an indicator of management's confidence in the company's future prospects.
Comparison to Industry Standards
- Stock-based compensation is a common practice in the tech and government contracting industries to align management's interests with those of shareholders.
- Vesting schedules of 1/3 per year for three years are typical for restricted stock units.
- Performance-based vesting is also common, linking executive compensation to the achievement of specific company goals.
Stakeholder Impact
- The transactions have a minor dilutive effect on existing shareholders due to the issuance of new shares upon vesting of RSUs.
- The vesting of PRSUs incentivizes management to achieve performance goals, which can benefit shareholders.
Key Dates
| Date | Description |
|---|---|
| 10/01/2020 | Ms. Gray was granted 5,203 performance restricted stock units. |
| 10/01/2021 | Ms. Gray was granted restricted stock units that convert into 818 shares of common stock on a 1 for 1 basis and 2,452 performance restricted stock units. |
| 10/01/2022 | Ms. Gray was granted restricted stock units that convert into 894 shares of common stock on a 1 for 1 basis. |
| 10/01/2023 | Ms. Gray was granted restricted stock units that convert into 1,061 shares of common stock on a 1 for 1 basis. |
| 10/01/2024 | Multiple transactions occurred: vesting of PRSUs and RSUs, disposal of shares for tax obligations, and grant of new RSUs and PRSUs. |
| 10/03/2024 | Date of signature for the Form 4 filing. |
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