Form 4: Carrier Global Corp: Executive Kyle Crockett Reports Stock Appreciation Right Award

VP, Controller & CAO of Carrier Global Corp, Kyle Crockett, reports the acquisition of stock appreciation rights and performance share units.

Summary

• On February 6, 2025, Kyle Crockett, VP, Controller & CAO of Carrier Global Corp, reported the acquisition of 13,530 Stock Appreciation Rights (SARs) at a price of $0.0000.
• The SARs have an exercise price of $65.21 and expire on February 5, 2035.
• Crockett also received 3,705 Performance Share Units (PSUs) under the Carrier Global Corporation 2020 Long-Term Incentive Plan.
• Each PSU represents a contingent right to receive one share of Carrier Global Corporation common stock.
• The PSUs vest on the third anniversary of the grant date, contingent upon continued employment and achievement of pre-established performance targets.

Sentiment

Score: 7

Explanation: The document reflects a standard executive compensation practice, indicating alignment of management with shareholder interests. It's a neutral to slightly positive signal.

Positives

• The award of SARs and PSUs aligns executive compensation with company performance and shareholder value.

Risks

• The vesting of PSUs is contingent upon the achievement of pre-established performance targets, which may not be met.

Future Outlook

The document does not contain specific forward-looking statements beyond the vesting conditions of the PSUs.

Industry Context

Executive compensation packages often include stock-based awards to incentivize performance and align management interests with those of shareholders. The use of SARs and PSUs is a common practice in publicly traded companies.

Comparison to Industry Standards

• Stock-based compensation is a common practice among S&P 500 companies, including Carrier's peers in the industrial sector.
• Companies like Honeywell, Johnson Controls, and Trane Technologies also utilize similar long-term incentive plans with performance-based vesting conditions.

Stakeholder Impact

• Shareholders may view the stock-based compensation as a positive incentive for management to improve company performance.
• Employees may see the executive compensation package as a sign of the company's commitment to rewarding performance.

Key Dates

Keywords

Stock Appreciation Rights, Performance Share Units, Form 4, CARR, Carrier Global Corp, Executive Compensation, Kyle Crockett