Form 4: CNH Industrial Executive Jay Schroeder Reports Stock Transactions Following PSU Vesting
SEC Form 4 Filing
Jay Schroeder, Chief Technology Officer of CNH Industrial N.V., reports the vesting of performance share units (PSUs) and subsequent sale of shares to cover tax obligations.
Summary
- On February 28, 2025, Jay Schroeder, Chief Technology Officer of CNH Industrial N.V., acquired 4,882 common shares and 608 common shares through the vesting of performance share units (PSUs) under the company's Long-Term Incentive Plan (LTIP).
- The PSUs vested based on the achievement of certain performance criteria related to the 2022-2024 and 2023-2025 LTIPs.
- On March 4, 2025, Schroeder sold 1,857 and 233 common shares at a price of $11.64 per share.
- These sales were executed to cover tax withholding obligations associated with the vesting of the PSUs.
- Following these transactions, Schroeder beneficially owns 26,766.432 common shares.
Sentiment
Score: 6
Explanation: The document reflects standard executive compensation practices. The vesting of PSUs suggests the achievement of performance goals, which is mildly positive. The sale of shares is a routine transaction to cover taxes.
Positives
- The vesting of PSUs indicates that performance criteria set by CNH Industrial were met, suggesting positive performance.
Industry Context
Executive stock transactions are common and often tied to company performance and compensation plans. This filing reflects standard practices for executives receiving stock-based compensation.
Comparison to Industry Standards
- Executive compensation packages often include performance-based equity grants, such as PSUs, to align management's interests with those of shareholders.
- Companies like Deere & Company and AGCO also utilize similar long-term incentive plans for their executives.
- The vesting of PSUs upon achieving certain performance criteria is a common practice across the industry.
Stakeholder Impact
- The vesting of PSUs and subsequent sale of shares may have a minor impact on shareholders due to the increased number of shares in the market.
Key Dates
| Date | Description |
|---|---|
| 02/28/2025 | Vesting of performance share units (PSUs) granted pursuant to the Issuer's 2022-2024 and 2023-2025 Long-Term Incentive Plan ('LTIP'). |
| 03/04/2025 | Sale of shares by the Reporting Person to cover tax withholding obligations in connection with the vesting of PSUs. |
| 03/04/2025 | Date of signature by attorney-in-fact. |
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