Form 4: Carriage Services CEO Carlos Quezada Reports Stock Transactions
SEC Form 4
CEO Carlos Quezada reports acquisition and disposal of Carriage Services Inc. stock and derivative securities.
Summary
- Carlos Quezada, CEO of Carriage Services Inc., filed a Form 4 detailing changes in beneficial ownership.
- On February 19, 2025, Quezada acquired 19,258 shares of common stock at $41.54 per share and exercised 56,190 performance awards at $39.85 per share.
- Also on February 19, 2025, 18,448 shares were withheld by the issuer for tax purposes related to the vesting of performance awards at a price of $39.85.
- Following these transactions, Quezada directly owns 117,061 shares of common stock.
- Quezada also holds various stock options granted between 2020 and 2024, which vest over several years.
Sentiment
Score: 6
Explanation: The sentiment is neutral. It's a routine filing of stock transactions. The acquisition of shares by the CEO is a mildly positive signal, but the tax withholding is a neutral event.
Positives
- The acquisition of shares by the CEO could be interpreted as a positive signal, indicating confidence in the company's future performance.
Negatives
- The withholding of shares for tax purposes, while standard, reduces the number of shares directly held by the CEO.
Risks
- The value of the stock options is dependent on the future performance of the company's stock price.
- Changes in tax laws could impact the value of stock-based compensation.
Future Outlook
The reported transactions reflect ongoing compensation and incentive plans for the CEO, with future vesting of restricted stock and stock options.
Industry Context
Form 4 filings are a routine part of executive compensation and provide transparency into insider transactions, which are closely monitored by investors.
Comparison to Industry Standards
- Executive compensation packages, including stock options and performance awards, are common in publicly traded companies like Carriage Services.
- Comparing the vesting schedules and exercise prices of Quezada's stock options to those of executives at similar companies in the funeral services industry (e.g., StoneMor, Park Lawn Corporation) would provide a benchmark for assessing the competitiveness of his compensation.
Stakeholder Impact
- Shareholders may view the CEO's stock transactions as an indicator of his confidence in the company's prospects.
- Employees may be impacted by the vesting of stock options and performance awards, which are part of the company's incentive plans.
Key Dates
| Date | Description |
|---|---|
| 06/25/2020 | Performance awards granted under the Carriage Services, Inc. 2017 Omnibus Incentive Plan. |
| 06/25/2020 | Stock Options granted pursuant to the Carriage Services, Inc. 2017 Omnibus Plan. |
| 02/17/2021 | Stock Options granted on pursuant to the Carriage Services, Inc. 2017 Omnibus Incentive Plan. |
| 09/01/2021 | 6,667 options were exercised. |
| 02/23/2022 | Stock Options granted on pursuant to the Carriage Services, Inc. 2017 Omnibus Incentive Plan. |
| 02/22/2023 | Stock Options granted on pursuant to the Carriage Services, Inc. 2017 Omnibus Incentive Plan. |
| 02/21/2024 | Stock Options granted on pursuant to the Carriage Services, Inc. 2017 Omnibus Incentive Plan. |
| 12/31/2024 | Performance awards vested. |
| 02/19/2025 | Date of reported transactions: acquisition of stock, exercise of performance awards, and withholding of shares for taxes. |
| 02/21/2025 | Stock Options granted on 2/21/2024 will vest in equal increments each year over three years beginning on this date. |
| 02/21/2034 | Expiration date for stock options granted on 2/21/2024. |
Keywords
Form 4, beneficial ownership, stock options, Carriage Services Inc, CSV, Carlos Quezada, stock, performance awards
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