Form 4: Cooper-Standard Holdings Inc. Executive Shannon B. Quinn Reports Stock Transactions
SEC Form 4 Filing
Shannon B. Quinn, President of ISG at Cooper-Standard Holdings Inc., reports acquisition and disposal of common stock and derivative securities.
Summary
- On February 12, 2025, Shannon B. Quinn, President, ISG of Cooper-Standard Holdings Inc., filed a Form 4 with the SEC.
- The report details transactions involving common stock and derivative securities, specifically Restricted Stock Units (RSUs) and Performance Stock Units (PSUs).
- Quinn acquired 4,876 shares of common stock through the vesting of PSUs and disposed of 4,876 shares.
- Additionally, Quinn acquired 5,270 RSUs and 2,304 PSUs.
- Following these transactions, Quinn directly owns 1,074 shares of common stock, 5,270 RSUs, and 2,304 PSUs.
Sentiment
Score: 5
Explanation: This is a routine regulatory filing reflecting standard executive compensation practices. It doesn't inherently indicate positive or negative sentiment, but rather provides transparency into insider transactions.
Positives
- The granting of RSUs and PSUs aligns executive compensation with the company's performance and long-term success.
- The vesting schedules of the RSUs and PSUs incentivize continued employment and commitment from the reporting person.
Future Outlook
The RSUs vest in thirds on the anniversaries of March 1, 2025, subject to continued employment. The PSUs vest subject to continued employment through December 31, 2025, and settle on or after February 12, 2026.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. These filings are closely watched by investors for signals about management's confidence in the company's prospects.
Comparison to Industry Standards
- Executive compensation packages including RSUs and PSUs are common across publicly traded companies to align management interests with shareholder value.
- Vesting schedules and performance criteria are tailored to the specific company's goals and industry benchmarks.
- The details of the Cooper-Standard Holdings Inc. 2021 Omnibus Incentive Plan would need to be compared to similar plans at peer companies to assess its competitiveness.
Stakeholder Impact
- Shareholders gain insight into executive compensation and ownership.
- Employees may be impacted by the performance criteria tied to PSU vesting.
- The transactions themselves have a minimal direct impact on customers, suppliers, or creditors.
Key Dates
| Date | Description |
|---|---|
| 02/15/2023 | Date of PSU grant under the 2021 Omnibus Incentive Plan. |
| 03/01/2023 | Date of PSU grant under the 2021 Omnibus Incentive Plan. |
| 02/14/2024 | Date the Company determined the number of PSUs actually achieved for the year ended December 31, 2023. |
| 12/31/2024 | Performance vesting criteria applicable for the year ended December 31, 2024. |
| 02/12/2025 | Date of the reported transactions and determination of PSU achievement for the year ended December 31, 2024. |
| 03/01/2025 | First anniversary of the RSU grant date; one-third of RSUs begin to vest. |
| 12/31/2025 | Date through which continued employment is required for PSU vesting. |
| 02/12/2026 | Date on or as soon as practicable following which PSUs will settle. |
Keywords
Form 4, SEC, Insider Trading, Shannon B. Quinn, Cooper-Standard Holdings Inc., CPS, Restricted Stock Units, Performance Stock Units, Common Stock, ISG
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