Form 4: Clarivate Director Bomba Jane L Okun Reports Changes in Beneficial Ownership
SEC Form 4 Filing
Director Bomba Jane L Okun reports acquisition and disposal of Clarivate PLC ordinary shares due to a quarterly award in lieu of cash retainer and shares withheld for taxes.
Summary
- On June 30, 2024, Bomba Jane L Okun, a director of Clarivate PLC, reported changes in beneficial ownership of the company's ordinary shares.
- Okun acquired 5,052 shares as a quarterly award in lieu of a $28,750 cash retainer for board services.
- These shares were granted under the Clarivate Plc 2019 Incentive Award Plan.
- The share price used for the calculation was $5.69, the closing price on June 28, 2024.
- Okun also disposed of 282 shares to cover taxes.
- Following these transactions, Okun directly owns 153,353 ordinary shares.
Sentiment
Score: 7
Explanation: The sentiment is neutral to slightly positive. The filing reflects standard compensation practices and insider alignment with shareholder interests. There are no indications of negative performance or concerns.
Positives
- The acquisition of shares demonstrates the director's continued investment in the company.
- The award aligns the director's interests with those of the shareholders.
Industry Context
This filing is a routine disclosure related to director compensation and stock ownership, common in publicly traded companies. It provides transparency regarding the alignment of director interests with shareholders.
Comparison to Industry Standards
- Director compensation through stock awards is a common practice among publicly listed companies to align the interests of directors with those of shareholders.
- Companies like RELX and Wolters Kluwer, which operate in similar information and analytics industries, also utilize stock-based compensation for their board members.
- The specific amount and structure of the award are typical for director compensation packages in companies of Clarivate's size and industry.
Stakeholder Impact
- The transactions have a minor positive impact on shareholders by aligning director interests with company performance.
Key Dates
| Date | Description |
|---|---|
| 06/28/2024 | Closing price of $5.69 per share used for calculating the stock award. |
| 06/30/2024 | Date of the reported transactions: acquisition of shares in lieu of cash retainer and disposal of shares for taxes. |
| 07/02/2024 | Date of signature by Attorney-in-Fact. |
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