Form 4: Cohen & Steers CFO Matthew Stadler Acquires Dividend Equivalent Restricted Stock Units
SEC Form 4 Filing
Matthew Stadler, CFO of Cohen & Steers, acquired 266 dividend equivalent restricted stock units on May 23, 2024.
Summary
- On May 23, 2024, Matthew S. Stadler, the Chief Financial Officer and EVP of Cohen & Steers, Inc. acquired 266 shares of Common Stock.
- These shares were acquired as dividend equivalent restricted stock units in connection with the issuer's second quarter 2024 dividend.
- These units accrued to Stadler on unvested restricted stock units granted in January 2021, January 2022, January 2023 and January 2024.
- Following the transaction, Stadler directly owns 147,846 shares of Cohen & Steers, Inc.
Sentiment
Score: 7
Explanation: The sentiment is neutral to slightly positive. The transaction reflects standard compensation practices and insider confidence, but it's not a major event.
Positives
- The acquisition of dividend equivalent restricted stock units suggests confidence in the company's performance and dividend payouts.
Industry Context
This filing is a routine disclosure related to insider transactions and is typical for publicly traded companies. It reflects compensation practices involving restricted stock units and dividend equivalents, common in the asset management industry.
Comparison to Industry Standards
- The granting of dividend equivalent restricted stock units is a common practice among publicly traded companies, particularly in the financial sector, to align executive compensation with shareholder returns.
- Companies like BlackRock, Franklin Resources, and T. Rowe Price also utilize similar equity-based compensation plans for their executives.
Stakeholder Impact
- The transaction has a minimal direct impact on stakeholders.
- It reinforces the alignment of management's interests with those of shareholders through equity-based compensation.
Key Dates
| Date | Description |
|---|---|
| 2021-01 | Grant date of unvested restricted stock units on which dividend equivalents accrued. |
| 2022-01 | Grant date of unvested restricted stock units on which dividend equivalents accrued. |
| 2023-01 | Grant date of unvested restricted stock units on which dividend equivalents accrued. |
| 2024-01 | Grant date of unvested restricted stock units on which dividend equivalents accrued. |
| 2024-05-23 | Date of transaction: Acquisition of dividend equivalent restricted stock units. |
| 2024-05-24 | Date of signature for the Form 4 filing. |
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