Form 4: Cimpress Executive Florian Baumgartner Reports Changes in Beneficial Ownership
SEC Form 4 Filing
Florian Baumgartner, EVP and CEO of Vista at Cimpress plc, reports the vesting and disposal of performance share units (PSUs) based on the company's fiscal year 2024 performance.
Summary
- On August 13, 2024, Florian Baumgartner, EVP and CEO of Vista at Cimpress plc, filed a Form 4 with the SEC.
- The filing reports changes in beneficial ownership related to performance share units (PSUs).
- On August 9, 2024, the Compensation Committee determined the number of shares issuable pursuant to a PSU award granted on August 15, 2023.
- The PSU award was based on the revenue, adjusted EBITDA, and unlevered free cash flow of Cimpress' Vista business for the fiscal year ended June 30, 2024.
- 56,800 performance share units vested on August 9, 2024, and were subsequently disposed of.
- These PSUs vest over a four-year period, with 25% vesting on the initial exercisable date and 6.25% vesting per quarter thereafter.
Sentiment
Score: 5
Explanation: The document is a standard SEC filing related to executive compensation, and does not inherently convey positive or negative sentiment. It's a factual report of transactions.
Industry Context
This filing is a routine disclosure related to executive compensation and is typical for publicly traded companies. It provides transparency into how executive pay is tied to company performance.
Stakeholder Impact
- Shareholders may be interested in how executive compensation is tied to company performance.
Key Dates
| Date | Description |
|---|---|
| 08/15/2023 | Performance share unit (PSU) award granted. |
| 06/30/2024 | Fiscal year end for performance conditions of PSU award. |
| 08/09/2024 | Compensation Committee determined the number of shares issuable pursuant to PSU award. |
| 08/13/2024 | Date of Form 4 filing. |
| 08/15/2024 | Exercisable date for 25% of the PSU award. |
| 08/15/2027 | Expiration date for the PSU award. |
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