Form 4: Cooper Companies Executive Awarded Stock Units, Corrects Prior Filing Error

A Cooper Companies executive, Holly R. Sheffield, received performance and restricted stock units, and a prior filing error regarding beneficial ownership was corrected.

Summary

• Holly R. Sheffield, President of CSI at Cooper Companies, was granted 25,998 performance stock units, 17,309 restricted stock units, and 12,616 shares of common stock on December 10, 2024.
• The performance stock units were earned for the three-year period ending October 31, 2024, and will vest on February 1, 2025, subject to continued service.
• The restricted stock units vest 25% per year over four years, with the first vesting date on January 8, 2025.
• A previous Form 4/A filing on February 15, 2024, understated the amount of securities beneficially owned by 181 shares, which has been corrected in this filing.
• The stock awards were adjusted to reflect the company's 4-for-1 stock split on February 16, 2024.

Sentiment

Score: 7

Explanation: The document reflects standard executive compensation practices and a correction of a minor filing error, which is generally neutral to positive.

Positives

• The stock awards provide an incentive for the executive to continue to perform well.
• The correction of the prior filing error ensures accurate reporting of beneficial ownership.

Risks

• The vesting of performance stock units is contingent on continued service, which could be a risk if the executive leaves the company before the vesting date.

Future Outlook

The performance stock units will vest on February 1, 2025, subject to continued service, and the restricted stock units will vest over four years starting January 8, 2025.

Industry Context

Stock-based compensation is a common practice for incentivizing executives in publicly traded companies.

Comparison to Industry Standards

• Stock-based compensation is a standard practice in the industry, with companies like Alcon, Bausch + Lomb, and Johnson & Johnson also using similar methods to incentivize their executives.
• The vesting schedules of 25% per year over four years for restricted stock units is a common vesting schedule in the industry.
• The performance period of three years for performance stock units is also a common practice.

Stakeholder Impact

• Shareholders may view the stock awards as a positive incentive for executive performance.
• Employees may see the stock awards as a sign of the company's commitment to its leadership.

Next Steps

• The performance stock units will vest on February 1, 2025, subject to continued service.
• The restricted stock units will vest over four years, starting January 8, 2025.

Key Dates

Keywords

stock units, performance stock units, restricted stock units, stock split, beneficial ownership, executive compensation, vesting, Cooper Companies