Form 4: Carrier Global SVP's Equity Vesting & Tax Sale

Carrier Global's SVP, Services & Chief BD Officer, Ajay Agrawal, reported the vesting of performance share units and a subsequent tax-related disposition of common stock.

Summary

• Ajay Agrawal, SVP, Services & Chief BD Officer at Carrier Global Corp (CARR), reported transactions involving the company's common stock.
• On February 1, 2026, 5,705 shares of Carrier common stock were acquired by Mr. Agrawal due to the vesting of performance share units (PSUs).
• These PSUs were awarded on February 1, 2023, under the Carrier Global Corporation 2020 Long-Term Incentive Plan and vested upon achieving pre-established performance targets for earnings per share growth and total shareholder return relative to a subset of S&P 500 industrial companies over a three-year period.
• Concurrently, 1,502 shares of common stock were disposed of on February 1, 2026, at a price of $59.58 per share, likely to cover tax withholding obligations related to the PSU vesting.
• Following these transactions, Mr. Agrawal beneficially owns 115,657 shares of Carrier Global common stock directly.

Sentiment

Score: 7

Explanation: StockSavvy.ai views this filing positively as it confirms the achievement of performance targets tied to executive compensation, reflecting strong company performance. The share disposition is a routine tax-related event.

Positives

• The vesting of 5,705 performance share units indicates that Carrier Global Corporation met its pre-established performance targets for earnings per share growth and total shareholder return over a three-year period.
• Successful achievement of performance targets reflects positively on the company's operational and strategic execution.

Negatives

• A disposition of 1,502 shares occurred, reducing the direct beneficial ownership of the reporting person, although this was likely for tax purposes related to the vesting.

Future Outlook

NA

Industry Context

StockSavvy.ai notes that performance-based equity compensation, such as Performance Share Units (PSUs), is a standard practice across industries, particularly within large industrial companies like Carrier Global. This mechanism aligns executive incentives with shareholder value creation by tying compensation to specific financial and market performance metrics, such as EPS growth and Total Shareholder Return (TSR) relative to peers.

Comparison to Industry Standards

• Performance-based equity awards are a common component of executive compensation packages in S&P 500 industrial companies, similar to peers such as Honeywell International Inc. (HON) or Johnson Controls International plc (JCI).
• The use of both EPS growth and relative TSR as performance metrics aligns with best practices for robust long-term incentive plans, ensuring both internal operational efficiency and external market competitiveness are considered.

Stakeholder Impact

• Shareholders: The vesting of PSUs due to achieved performance targets suggests effective management and positive company performance, which is generally beneficial for shareholder value.
• Employees: Successful performance and executive compensation linked to it can signal a healthy company environment, potentially boosting morale and confidence.

Key Dates

Keywords

Carrier Global, CARR, Insider Transaction, Form 4, Equity Vesting, Performance Share Units, Executive Compensation, Stock Sale, SVP