Form 4: Dayforce Director Gerald C. Throop Reports Acquisition of Common Stock and Stock Units
SEC Form 4
Director Gerald C. Throop reports acquisition of Dayforce, Inc. common stock and restricted stock units (RSUs) on May 3, 2024, along with holdings of exchangeable shares and options.
Summary
- On May 3, 2024, Gerald C. Throop, a director of Dayforce, Inc., reported acquiring 6,458 shares of common stock through restricted stock units (RSUs).
- These RSUs vest as to 25% on the last day of each three-month period starting from the grant date.
- Throop also holds 25,283 shares of common stock, which include RSUs granted in previous years that are issuable as shares of common stock at the election of the recipient.
- Additionally, Throop possesses exchangeable shares of Ceridian AcquisitionCo ULC, convertible into 23,185 shares of Dayforce common stock.
- He also holds options to purchase common stock at various prices and expiration dates, totaling 44,183 shares.
Sentiment
Score: 6
Explanation: The sentiment is neutral as it's a standard regulatory filing. The acquisition of shares by a director is mildly positive, suggesting confidence, but the document itself is purely informational.
Positives
- The acquisition of shares by a director can be seen as a positive sign, indicating confidence in the company's future.
Industry Context
This filing is a routine disclosure related to insider transactions, which are common in publicly traded companies. It provides transparency regarding the holdings and transactions of company insiders.
Comparison to Industry Standards
- Form 4 filings are standard practice for publicly traded companies, ensuring transparency in insider trading activities.
- The vesting schedules and option grants are typical compensation components for directors and officers in similar technology companies.
- Comparing the option exercise prices and vesting schedules with those of peer companies like Workday or Paylocity would provide a benchmark for executive compensation.
Stakeholder Impact
- The disclosure provides transparency to shareholders regarding insider transactions.
- Employees may view insider stock acquisitions as a positive sign of company health.
Key Dates
| Date | Description |
|---|---|
| 2018-04-25 | Grant date of 7,955 RSUs that are issuable as shares of Common Stock at the election of the recipient. |
| 2019-05-15 | Grant date of 3,988 RSUs that are issuable as shares of Common Stock at the election of the recipient. |
| 2020-08-21 | Grant date of 2,695 RSUs that are issuable as shares of Common Stock at the election of the recipient. |
| 2023-05-15 | Grant date of 4,187 RSUs, of which 3,141 are issuable as shares of Common Stock at the election of the recipient, and 1,046 will vest and become issuable as shares of Common Stock at the election of the recipient on May 15, 2024. |
| 2023-08-31 | Date of the Power of Attorney. |
| 2024-05-03 | Date of transaction: Acquisition of 6,458 shares of common stock via RSUs. |
| 2024-05-07 | Date of signature for the Form 4 filing. |
| 2024-05-15 | 1,046 RSUs will vest and become issuable as shares of Common Stock at the election of the recipient. |
| 2030-05-08 | Expiration date for options to purchase 11,916 shares of common stock at $65.26. |
| 2030-08-21 | Expiration date for options to purchase 4,643 shares of common stock at $74.2. |
| 2031-05-07 | Expiration date for options to purchase 10,069 shares of common stock at $87.4. |
| 2032-05-11 | Expiration date for options to purchase 17,555 shares of common stock at $50.23. |
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.