Form 4: CommScope Executive Farid Firouzbakht Acquires Restricted Stock Units
SEC Form 4
Farid Firouzbakht, SVP & President, OWN of CommScope Holding Company, Inc., acquired 160,800 restricted stock units on June 1, 2024.
Summary
- On June 1, 2024, Farid Firouzbakht, SVP & President, OWN of CommScope Holding Company, Inc., acquired 160,800 restricted stock units.
- These restricted stock units will vest ratably on June 1, 2025, June 1, 2026, and June 1, 2027, contingent upon continued employment with CommScope.
- Following the transaction, Firouzbakht beneficially owns 488,602 shares of CommScope common stock, including previously reported restricted stock units vesting at various dates.
Sentiment
Score: 7
Explanation: The sentiment is neutral to positive as it reflects standard executive compensation practices that align management with shareholder interests. The vesting schedule encourages long-term commitment.
Positives
- The acquisition of restricted stock units aligns the executive's interests with the long-term performance of the company.
- The vesting schedule encourages continued employment and commitment to CommScope.
Industry Context
Executive compensation through equity grants is a common practice in the technology and communications industry to incentivize performance and align management interests with shareholders.
Stakeholder Impact
- Shareholders may view the equity grant positively as it aligns executive interests with company performance.
- Employees may see this as a standard practice for executive compensation.
Key Dates
| Date | Description |
|---|---|
| 03/01/2022 | 16,667 restricted stock units granted, vesting on 06/01/2025 |
| 03/01/2023 | 33,867 restricted stock units granted, vesting ratably on 06/01/2025 and 06/01/2026 |
| 06/01/2023 | 38,134 restricted stock units granted, vesting ratably on 06/01/2025 and 06/01/2026 |
| 03/01/2024 | 79,200 restricted stock units granted, vesting ratably on 06/01/2025, 06/01/2026 and 06/01/2027 |
| 06/01/2024 | Date of transaction: Acquisition of 160,800 restricted stock units |
| 06/01/2025 | Vesting date for multiple tranches of restricted stock units |
| 06/01/2026 | Vesting date for multiple tranches of restricted stock units |
| 06/01/2027 | Vesting date for multiple tranches of restricted stock units |
| 06/04/2024 | Date of signature for the Form 4 filing |
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