Form 4: Cousins Properties Inc. Executive Acquires and Disposes of Shares to Cover Tax Obligations

Jeffrey D. Symes, SVP and Chief Accounting Officer of Cousins Properties Inc., reports acquisition of restricted stock and subsequent disposal of shares to cover tax liabilities.

Summary

• On February 14, 2025, Jeffrey D. Symes, SVP, Chief Accounting Officer of Cousins Properties Inc., acquired 4,007 shares of common stock at a price of $29.95 per share as part of a restricted stock award under the company's 2019 Omnibus Incentive Stock Plan.
• These shares vest ratably over three years, with CPI holding the shares until vested, during which time Symes can receive dividends and vote the shares.
• Unvested shares are forfeited upon termination of employment.
• On February 16, 2025, Symes disposed of 1,348 shares at $29.95 per share to cover tax liabilities related to the vesting of restricted stock, as permitted under the 2019 Omnibus Incentive Stock Plan.
• Following these transactions, Symes beneficially owns 18,130 shares of Cousins Properties Inc. common stock.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. The transactions reflect standard executive compensation practices and compliance with regulations. The acquisition of restricted stock suggests confidence in the company's future performance.

Positives

• The restricted stock award aligns the executive's interests with the company's long-term performance.
• The executive has the right to receive cash dividends and vote the restricted shares prior to vesting.

Industry Context

Form 4 filings are standard practice and provide transparency into the transactions of company insiders, allowing investors to track ownership changes and potential alignment of interests.

Comparison to Industry Standards

• Executive compensation packages often include restricted stock awards that vest over time, similar to the Cousins Properties Inc. plan.
• Companies like Boston Properties (BXP) and Equity Residential (EQR) also utilize stock-based compensation to incentivize executives.
• The practice of withholding shares to cover tax liabilities is a common feature in equity compensation plans.

Stakeholder Impact

• The transactions provide transparency to shareholders regarding executive compensation and ownership.
• The stock transactions have a negligible impact on employees, customers, suppliers, and creditors.

Key Dates

Keywords

Form 4, Beneficial Ownership, COUSINS PROPERTIES INC, CUZ, Jeffrey D. Symes, Restricted Stock, Tax Liability, Insider Trading