Form 4: Chart Industries Executive Receives Stock Grant

Joseph A. Belling, Chief Technology Officer of Chart Industries, acquired 948 shares of common stock on May 21, 2024, through a restricted share unit grant.

Summary

• Joseph A. Belling, the Chief Technology Officer of Chart Industries, Inc., filed a Form 4 on May 22, 2024.
• The filing reports a transaction that occurred on May 21, 2024, where Belling acquired 948 shares of Chart Industries common stock.
• These shares were granted as restricted share units under the Chart Industries, Inc. 2024 Omnibus Equity Plan.
• The restricted share units will vest in three equal installments on the first three anniversaries of the grant date.
• Following the reported transaction, Belling beneficially owns 12,504 shares of Chart Industries common stock.

Sentiment

Score: 7

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

Positives

• The grant of restricted share units aligns the executive's interests with the long-term performance of the company.
• The vesting schedule encourages continued service and commitment from the Chief Technology Officer.

Future Outlook

The restricted share units will vest over the next three years, subject to continued employment and tax withholding requirements.

Industry Context

This type of equity grant is a common practice in publicly traded companies to incentivize and retain key executives.

Comparison to Industry Standards

• Equity compensation is a standard practice among publicly traded companies like Chart Industries to align executive interests with shareholder value.
• Companies such as Linde, Air Products and Chemicals, and Emerson Electric also utilize similar equity-based compensation plans for their executives.
• The vesting schedule of one-third annually is a typical structure to ensure continued service and commitment.

Stakeholder Impact

• The equity grant aligns management's interests with those of shareholders, potentially driving long-term value creation.

Key Dates