Form 4: City Holding Co. CEO Charles Hageboeck Reports Stock Transactions
SEC Form 4
Charles Hageboeck, President & CEO of City Holding Co., reports the vesting and acquisition of common stock and restricted stock units.
Summary
- Charles Hageboeck, the President & CEO of City Holding Co., filed a Form 4 detailing changes in his beneficial ownership of the company's stock.
- On February 27, 2024, Mr. Hageboeck acquired 620 shares of common stock upon the vesting of restricted stock units.
- These shares were received at a price of $0 due to the vesting of the restricted stock units and the satisfaction of a two-year holding period.
- Mr. Hageboeck also indirectly owns 2,024.6477 shares of common stock through the company's 401(k) Plan and Trust, as of the 12/31/2023 plan valuation date.
- He also holds various restricted stock units that are scheduled to vest over the next few years.
- Mr. Hageboeck also holds options to buy 6,065 shares of common stock at an exercise price of $66.32, which vest over time and based on performance.
Sentiment
Score: 6
Explanation: The document is a standard SEC filing detailing stock transactions by an executive. It doesn't contain overtly positive or negative information, but the vesting of restricted stock units can be seen as a mildly positive indicator.
Positives
- The vesting of restricted stock units indicates that performance metrics or time-based conditions have been met.
- Continued holding of shares through the 401(k) plan demonstrates a long-term investment in the company's success.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the trading activities of company insiders. These filings are closely watched by investors for signals about management's confidence in the company's prospects.
Comparison to Industry Standards
- Executive compensation packages often include restricted stock units and stock options to align management's interests with those of shareholders.
- The vesting schedules for these equity awards are typically structured to incentivize long-term performance and retention.
- The specific terms of these awards, such as vesting dates and exercise prices, can vary widely depending on the company's size, industry, and overall compensation philosophy.
Stakeholder Impact
- The reported transactions provide transparency to shareholders regarding executive compensation and stock ownership.
- The vesting of restricted stock units and exercise of stock options can impact the company's share dilution.
Key Dates
| Date | Description |
|---|---|
| 02/22/2020 | Date when 2,524 options shares vested. |
| 02/26/2021 | Date when one-third of restricted stock units vested. |
| 02/22/2021 | Date when 2,524 options shares vested. |
| 02/27/2021 | Date when one-third of restricted stock units vested. |
| 02/24/2022 | Date when one-third of restricted stock units vested. |
| 02/22/2022 | Date when 2,524 options shares vested. |
| 02/27/2022 | Date when one-third of restricted stock units vested. |
| 02/23/2023 | Date when one-third of restricted stock units vested. |
| 12/31/2023 | Date of the 401(k) plan valuation. |
| 02/22/2024 | Date when one-third of restricted stock units are scheduled to vest. |
| 02/23/2024 | Date when one-third of restricted stock units are scheduled to vest. |
| 02/24/2024 | Date when one-third of restricted stock units are scheduled to vest. |
| 02/27/2024 | Date of the reported transaction where 620 shares were acquired upon vesting of restricted stock units. |
| 02/28/2024 | Date of the signature on the Form 4 filing. |
| 02/22/2025 | Date when one-third of restricted stock units are scheduled to vest. |
| 02/23/2025 | Date when one-third of restricted stock units are scheduled to vest. |
| 02/22/2026 | Date when one-third of restricted stock units are scheduled to vest. |
| 02/21/2027 | Expiration date of stock options. |
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