Form 4: Carrier Global Corp: Senior VP & CHRO Nadia Villeneuve Reports Stock Appreciation Right Award

Nadia Villeneuve, Senior VP & CHRO of Carrier Global Corp, reports the acquisition of stock appreciation rights and performance share units.

Summary

• Nadia Villeneuve, Senior VP & CHRO of Carrier Global Corp, filed a Form 4 on February 10, 2025.
• The report details the award of 44,105 Stock Appreciation Rights (SARs) at an exercise price of $65.21 on February 6, 2025, which will become exercisable on February 6, 2028, and expire on February 5, 2035.
• Villeneuve also received 12,075 Performance Share Units (PSUs) under the company's 2020 Long-Term Incentive Plan.
• These PSUs vest on the third anniversary of the grant date, contingent upon continued employment and the achievement of pre-established performance targets related to earnings per share growth and total shareholder return relative to a subset of industrial companies in the S&P 500 index over a three-year period.

Sentiment

Score: 7

Explanation: The document reflects a standard executive compensation practice, indicating confidence in the company's future performance. The sentiment is neutral to positive.

Positives

• The award of SARs and PSUs aligns the executive's interests with those of the shareholders, incentivizing performance and long-term value creation.

Future Outlook

The vesting of the PSUs is contingent upon the company's performance relative to its peers in the S&P 500, indicating a focus on competitive performance and shareholder value.

Industry Context

Executive compensation packages often include stock-based awards to align management's interests with those of shareholders. The use of PSUs tied to specific performance metrics is a common practice to incentivize growth and shareholder return.

Comparison to Industry Standards

• Stock appreciation rights and performance share units are common components of executive compensation packages in publicly traded companies, particularly in the industrial sector.
• Companies like Honeywell, RTX, and Trane Technologies also utilize similar equity-based compensation to incentivize their executives.
• The specific metrics used for PSU vesting, such as EPS growth and TSR relative to the S&P 500, are standard benchmarks for evaluating executive performance.

Stakeholder Impact

• The equity-based compensation structure aims to align management's interests with those of shareholders, potentially leading to increased shareholder value.
• Employees may be indirectly impacted by the performance targets associated with the PSUs, as these targets can influence company strategy and operations.

Key Dates

Keywords

Stock Appreciation Rights, Performance Share Units, Form 4, CARR, Carrier Global Corp, Executive Compensation, Nadia Villeneuve