Form 4: Curtiss-Wright CEO Lynn Bamford Awarded 6,209 Restricted Stock Units
SEC Form 4 Filing
Lynn M. Bamford, Chair and CEO of Curtiss-Wright Corporation, received 6,209 restricted stock units on March 14, 2024, as part of an employee benefit transaction.
Summary
- Lynn M. Bamford, the Chair and CEO of Curtiss-Wright Corporation, was granted 6,209 restricted stock units on March 14, 2024.
- The award was approved by the Executive Compensation Committee of the Board of Directors.
- The price of the restricted stock units is based on the closing price of Curtiss-Wright's common stock on March 14, 2024, which was $240.97.
- Following the transaction, Bamford directly owns 26,852 shares of Curtiss-Wright common stock.
- The restricted stock units will vest on March 15, 2026.
Sentiment
Score: 7
Explanation: The document reflects a routine executive compensation transaction, which is generally viewed neutrally to positively as it aligns management with shareholder interests.
Positives
- The grant of restricted stock units aligns the CEO's interests with those of the shareholders.
- The award serves as an employee benefit and incentive for the CEO.
Industry Context
Executive compensation packages often include restricted stock units to incentivize performance and align management's interests with shareholder value. This is a common practice in publicly traded companies.
Comparison to Industry Standards
- Executive compensation packages vary widely across the aerospace and defense industry, but restricted stock units are a common component.
- Companies like Lockheed Martin, Boeing, and General Dynamics also utilize stock-based compensation to incentivize their executives.
- The size of the award is relative to the company's market capitalization, executive's role, and overall performance.
Stakeholder Impact
- Shareholders may view the grant of restricted stock units positively as it incentivizes the CEO to increase shareholder value.
- Employees may see this as a positive sign of the company's commitment to its leadership.
Key Dates
| Date | Description |
|---|---|
| 03/14/2024 | Date of the transaction and approval of the award by the Executive Compensation Committee. |
| 03/15/2024 | Date of the signature on the Form 4 filing. |
| 03/15/2026 | Expiration date of the restricted stock units. |
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