Form 4: Century Aluminum Executive DeZee Reports Stock Transactions Following PSU Vesting

John DeZee, EVP, GC and Secretary of Century Aluminum, reports acquisition and disposal of company stock related to vesting of Performance Share Units (PSUs) and Tax Vesting Share Units (TVSUs) under the company's Long-Term Incentive Plan.

Summary

• On December 31, 2024, John DeZee, an executive at Century Aluminum, acquired 26,036 shares of common stock upon the vesting of PSUs granted under the 2022-2024 Long-Term Incentive Plan.
• On the same day, 7,629 shares were withheld by the issuer to satisfy tax obligations related to the PSU vesting at a price of $18.22.
• Additionally, 2,616 shares were withheld to cover tax obligations from previously granted TVSUs vesting on January 1, 2022, also at $18.22.
• On January 1, 2025, DeZee was granted 15,244 TVSUs under the 2025-2027 Long-Term Incentive Plan, which will vest on December 31, 2027.
• Following these transactions, DeZee beneficially owns 132,918 shares, including unvested TVSUs.

Sentiment

Score: 6

Explanation: The sentiment is neutral as the document primarily reports routine stock transactions related to executive compensation plans. There are no indications of significant positive or negative events.

Positives

• The vesting of PSUs and granting of TVSUs align executive compensation with the company's long-term performance.

Future Outlook

The document outlines future vesting of TVSUs on December 31, 2027, subject to the terms and conditions of the 2025-2027 Long-Term Incentive Plan.

Industry Context

Executive compensation through stock grants and vesting is a common practice in publicly traded companies to align management's interests with those of shareholders.

Comparison to Industry Standards

• Stock-based compensation is a standard practice among publicly traded companies, including Century Aluminum's competitors like Alcoa and Norsk Hydro.
• The vesting schedules and performance metrics associated with PSU and TVSU grants are typically designed to incentivize long-term value creation, similar to practices observed at Rio Tinto and BHP.

Stakeholder Impact

• The vesting of PSUs and granting of TVSUs can impact shareholder value depending on the company's performance and the dilution effect of issuing new shares.

Key Dates