Form 4: Champion Homes CEO Timothy Larson Reports Changes in Beneficial Ownership After Performance-Based Stock Units Vest

Timothy Larson, President & CEO of Champion Homes, reports adjustments to his stock ownership following the vesting of performance-based stock units (PRSUs) based on the company's total shareholder return and market share.

Summary

• On January 4, 2025, Timothy Larson, the President & CEO of Champion Homes, had changes in his beneficial ownership of the company's common stock.
• These changes resulted from the vesting of performance-based stock units (PRSUs) granted under the 2018 Equity Incentive Plan.
• The PRSUs vested at 72.7% of the initial grant due to the company's performance relative to designated companies based on total shareholder return and market share over a specific period ending January 4, 2025.
• A portion of the PRSUs that did not meet the performance goals were forfeited.
• Two transactions were reported: the withholding of 609 shares and 1,258 shares at a price of $90.43.
• Following these transactions, Larson directly owns 55,980 shares of Champion Homes common stock.

Sentiment

Score: 6

Explanation: The document is a standard regulatory filing related to stock ownership changes. The sentiment is neutral as it reflects routine compensation and performance-based vesting.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. The vesting of PRSUs is a common incentive mechanism used to align management's interests with those of shareholders.

Stakeholder Impact

• The vesting of PRSUs impacts shareholders by potentially diluting ownership, but also incentivizes management to improve company performance.

Key Dates