Form 4: Director Jean Pierre Garnier Acquires Carrier Global Corp Stock Units as Part of Deferred Compensation Plan

Jean Pierre Garnier, a director of Carrier Global Corp, acquired 3,484.4511 stock units under the company's Deferred Stock Unit Plan on April 18, 2024, as part of his annual compensation.

Summary

• On April 18, 2024, Jean Pierre Garnier, a director at Carrier Global Corp, acquired 3,484.4511 stock units.
• The acquisition was made under the Carrier Global Corporation Board of Directors Deferred Stock Unit Plan.
• These stock units are part of the director's annual compensation for serving as a non-employee director.
• The price of the stock at the time of acquisition was $53.38.
• Following the transaction, Garnier directly owns 129,763.7298 shares.
• Upon resignation, removal, or retirement from the Board, the DSUs in the director's account under the Plan, including accrued dividend equivalents, are converted into an equal number of shares of Carrier common stock that, at the director's previous election, are distributed either in a lump-sum or in installments.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction related to director compensation, indicating stability and alignment of interests. It's a neutral to slightly positive event.

Positives

• The acquisition reflects the director's continued investment in the company.
• The Deferred Stock Unit Plan aligns the interests of non-employee directors with those of shareholders.

Future Outlook

The Deferred Stock Units will be converted into Carrier common stock upon the director's resignation, removal, or retirement from the Board, distributed either in a lump-sum or in installments.

Industry Context

This filing is a routine disclosure of a director's compensation in the form of stock units, which is a common practice among publicly traded companies to align the interests of board members with those of shareholders.

Comparison to Industry Standards

• Deferred Stock Unit plans are a common form of compensation for non-employee directors in publicly traded companies.
• Companies like United Technologies (prior to its split) and other large industrials often use similar plans to incentivize board members.
• The specific terms of the plan, such as the vesting schedule and distribution method, are typical for these types of arrangements.

Stakeholder Impact

• The transaction has a minor positive impact on shareholders by aligning the director's interests with the company's long-term performance.

Key Dates