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 transactions involving common stock and restricted stock units.
Summary
- On March 1, 2025, Shannon B. Quinn, President of ISG at Cooper-Standard Holdings Inc., reported transactions involving the company's stock.
- These transactions included the vesting of restricted stock units (RSUs) granted under the company's 2021 Omnibus Incentive Plan.
- Specifically, 1,625 RSUs from the March 1, 2023 grant and 1,558 RSUs from the February 14, 2024 grant vested.
- The vested RSUs were settled for common stock, and a portion of the shares were disposed of to cover tax obligations at a price of $15.14 per share.
- Following these transactions, Quinn directly owns 3,231 shares of common stock and holds 1,626 and 3,118 restricted stock units from the 2023 and 2024 grants respectively.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing detailing stock transactions by an executive. It doesn't inherently convey positive or negative sentiment about the company's performance.
Positives
- The vesting of RSUs indicates that Quinn has met the continued employment requirements associated with the grants.
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 often include RSUs as a way to align management's interests with those of shareholders.
- The vesting schedules described (one-third vesting annually over three years) are fairly standard for RSU grants.
- Similar companies such as Dana Incorporated and Tenneco also utilize RSU grants as part of their executive compensation plans.
Stakeholder Impact
- The transactions have a minimal direct impact on stakeholders, as they represent routine vesting and tax-related disposals of shares.
Key Dates
| Date | Description |
|---|---|
| March 1, 2023 | Date of grant for 1,625 time-based restricted stock units (RSUs) under the Cooper-Standard Holdings Inc. 2021 Omnibus Incentive Plan. |
| February 14, 2024 | Date of grant for restricted stock units (RSUs) under the Cooper-Standard Holdings Inc. 2021 Omnibus Incentive Plan, as amended and restated. |
| March 1, 2025 | Date of transaction: Vesting of RSUs and subsequent acquisition/disposal of common stock. |
| March 4, 2025 | Date of signature for the Form 4 filing. |
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