Form 4: Dayforce EVP Christopher Armstrong Reports Stock Transactions
SEC Form 4 Filing
Christopher Armstrong, EVP and Chief Operating Officer of Dayforce, Inc., reports the forfeiture and acquisition of common stock to cover withholding taxes related to vesting restricted stock units (RSUs) and performance stock units (PSUs).
Summary
- Christopher Armstrong, an executive at Dayforce, Inc., filed a Form 4 detailing changes in beneficial ownership of the company's stock.
- On February 28, 2024, Armstrong forfeited shares of common stock to cover withholding taxes related to the vesting of RSUs and PSUs.
- Specifically, 4,169 shares were forfeited related to RSU vesting, 1,278 shares related to PSU vesting, and 3,388 shares related to another PSU vesting, all at a price of $71.05 per share.
- Following these transactions, Armstrong directly owns 122,146 shares of Dayforce common stock.
- Armstrong also holds options to buy 107,244 shares at $65.26, and 52,301 shares at $44.91.
- He also holds performance units which will convert to common stock on future vesting dates.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing detailing stock transactions, with no inherent positive or negative sentiment.
Future Outlook
The document details future vesting dates for RSUs and PSUs, indicating continued equity-based compensation for the reporting person.
Industry Context
Form 4 filings are a routine part of executive compensation and provide transparency into insider transactions, which are closely monitored by investors.
Stakeholder Impact
- The transactions have a minimal direct impact on stakeholders, as they primarily reflect internal compensation adjustments.
- However, transparency in executive compensation is important for maintaining investor confidence.
Next Steps
- Vesting of additional RSUs and PSUs on future dates as outlined in the report.
- Potential exercise of stock options by the reporting person.
Key Dates
| Date | Description |
|---|---|
| 03/08/2021 | Grant date of RSUs, of which 6,177 shares vest on March 8, 2024. |
| 05/08/2023 | Date that 80,433 options were vested and exercisable. |
| 02/28/2023 | Grant date of RSU and PSU awards. |
| 02/28/2024 | Date of stock forfeiture and acquisition transactions. |
| 03/01/2024 | Date of signature on the Form 4. |
| 02/24/2025 | Vesting date of 7,059 shares of Common Stock issuable pursuant to RSUs. |
| 02/28/2025 | Vesting date of 9,141 shares of Common Stock issuable pursuant to RSUs. |
| 02/28/2026 | Vesting date of 9,141 shares of Common Stock issuable pursuant to RSUs. |
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