Form 4: Cooper-Standard Holdings Executive Settles Performance Stock Units
SEC Form 4 Filing
Larry Ott, SVP and Chief Human Resources Officer at Cooper-Standard Holdings, settled performance-based stock units (PSUs) and disposed of shares to cover tax obligations.
Summary
- On February 14, 2025, Larry Ott, SVP and Chief Human Resources Officer of Cooper-Standard Holdings Inc., settled 8,780 performance-based stock units (PSUs).
- These PSUs were granted on February 16, 2022, under the company's 2021 Omnibus Incentive Plan and vested upon meeting performance criteria determined by the company on February 14, 2024.
- The settlement resulted in Ott acquiring 8,780 shares of common stock.
- Additionally, Ott disposed of 2,977 shares of common stock at a price of $13.51 to satisfy tax obligations.
- Following these transactions, Ott directly owns 35,370 shares of Cooper-Standard Holdings Inc. common stock.
Sentiment
Score: 5
Explanation: This is a neutral event, reflecting routine executive compensation and stock transactions. It doesn't inherently indicate positive or negative sentiment.
Future Outlook
The PSUs will settle on or as soon as practicable following February 14, 2025, subject to continued employment through December 31, 2024.
Industry Context
This filing is a routine disclosure of insider transactions, which are common in publicly traded companies. It provides transparency into the actions of company executives regarding their holdings of company stock.
Stakeholder Impact
- The transaction has a minor impact on shareholders as it reflects an executive's compensation and stock ownership.
- Employees may view the PSU settlement as a positive sign of the company meeting its performance goals.
Key Dates
| Date | Description |
|---|---|
| February 16, 2022 | Date the performance-based stock units (PSUs) were granted to Larry Ott. |
| February 14, 2024 | Date the company determined that the applicable performance vesting criteria for the PSUs were satisfied. |
| December 31, 2024 | Date through which the reporting person's continued employment with the company or its affiliates is required for the PSUs to vest and no longer be subject to forfeiture. |
| February 14, 2025 | Date of the transaction where Larry Ott settled the performance-based stock units (PSUs) and disposed of shares for tax obligations. |
| February 18, 2025 | Date of the form 4 filing. |
Keywords
Cooper-Standard Holdings, Larry Ott, Performance Stock Units, PSUs, SEC Form 4, Beneficial Ownership, Stock Settlement, Tax Obligations, Insider Trading
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