Form 4: Carrier SVP's Equity Stake Shifts Post PSU Vesting

Carrier Global Corp's SVP, Chief People/Comm Officer, Nadia Villeneuve, saw a change in her beneficial ownership of common stock following the vesting of performance share units.

Summary

• Nadia Villeneuve, SVP, Chief People/Comm Officer of Carrier Global Corp, reported changes in her beneficial ownership of common stock.
• On February 1, 2026, 15,194 shares of common stock were acquired due to the vesting of Performance Share Units (PSUs).
• These PSUs were originally awarded on February 1, 2023, under the Carrier Global Corporation 2020 Long-Term Incentive Plan.
• The vesting was contingent on achieving pre-established performance targets for 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.
• Concurrently, 3,809 shares were disposed of at a price of $59.58, likely to cover tax obligations related to the PSU vesting.
• Following these transactions, Nadia Villeneuve's direct beneficial ownership stands at 112,522 shares of Carrier Global Corp common stock.

Sentiment

Score: 8

Explanation: StockSavvy.ai views this as a positive indicator of management's performance and the company's operational success, as the vesting of performance-based equity awards signifies the achievement of pre-set financial and market-based targets.

Positives

• Performance Share Units (PSUs) awarded in 2023 vested, indicating the achievement of pre-established performance targets for earnings per share growth and total shareholder return relative to a subset of industrial companies in the S&P 500 index.
• The successful vesting of PSUs suggests strong company performance over the three-year period ending February 1, 2026.

Future Outlook

NA

Industry Context

StockSavvy.ai notes that the vesting of performance-based equity awards like PSUs is a common practice in executive compensation, aligning management incentives with shareholder returns. The achievement of performance targets relative to S&P 500 industrial companies suggests Carrier's competitive standing within its sector.

Comparison to Industry Standards

• The use of Performance Share Units (PSUs) tied to EPS growth and Total Shareholder Return (TSR) relative to an S&P 500 industrial peer group is a standard practice in executive compensation across major industrial companies like Honeywell, Johnson Controls, and Trane Technologies, aiming to align executive incentives with long-term shareholder value creation.
• The successful vesting indicates Carrier's performance met or exceeded the pre-established targets, a positive signal compared to companies where such targets are missed, leading to forfeiture of awards.

Stakeholder Impact

• Shareholders: Positive signal regarding company performance and management's alignment with shareholder interests through performance-based compensation.
• Employees: May indicate a healthy company performance culture, potentially boosting morale.

Key Dates

Recommendation

This Form 4 indicates routine executive compensation activity (PSU vesting and tax-related disposition) following the achievement of performance targets. While positive for management and reflecting past performance, it does not present new information that would fundamentally alter the investment thesis or warrant a strong buy/sell recommendation. It reinforces a "hold" stance for investors already in the stock, confirming management's incentive alignment and past operational success.

Keywords

Carrier Global, CARR, Form 4, insider trading, beneficial ownership, PSU vesting, executive compensation, stock transaction