Form 4: Cousins Properties Inc. EVP and CFO Gregg D. Adzema Reports Stock Award and Tax Liability Transaction

Gregg D. Adzema, EVP and CFO of Cousins Properties Inc., reports the acquisition of restricted stock and a subsequent transaction to cover tax liabilities.

Summary

• On February 14, 2025, Gregg D. Adzema, EVP and CFO of Cousins Properties Inc., was awarded 21,703 shares of restricted common stock at a price of $29.95 per share.
• These shares vest ratably over three years from the grant date, with Cousins Properties Inc. holding the shares until vested.
• Adzema has the right to receive cash dividends and vote the restricted shares prior to vesting, but unvested shares are forfeited upon termination of employment.
• On February 16, 2025, 6,628 shares were withheld to cover Adzema's tax liability related to the vesting of restricted stock, at a price of $29.95 per share.
• Following these transactions, Adzema directly owns 121,710 shares of common stock, including 44,707 restricted shares.

Sentiment

Score: 7

Explanation: The document reflects standard executive compensation practices and insider transactions, suggesting a neutral to slightly positive sentiment due to alignment of executive interests with shareholders.

Positives

• The award of restricted stock aligns Adzema's interests with those of the shareholders.
• Adzema's continued holding of a significant number of shares demonstrates confidence in the company.

Future Outlook

The restricted stock will vest ratably over three years, contingent on continued employment.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This filing indicates standard compensation practices involving restricted stock awards.

Comparison to Industry Standards

• Restricted stock awards are a common form of executive compensation in the real estate industry, similar to practices at companies like Boston Properties (BXP) and Vornado Realty Trust (VNO).
• The vesting schedule of three years is also typical for such awards.
• Tax withholding practices related to vesting are standard across publicly traded companies.

Stakeholder Impact

• Shareholders may view the restricted stock award as a positive incentive for the CFO.
• Employees may see this as part of the company's compensation structure.

Key Dates