Form 4: Dayforce EVP Samer Alkharrat Reports Stock Transactions
SEC Form 4 Filing
Samer Alkharrat, EVP and Chief Revenue Officer of Dayforce, Inc., reports the forfeiture of 11,047 shares for tax withholding and the vesting of 26,271 shares of common stock.
Summary
- On June 9, 2024, Samer Alkharrat, EVP and Chief Revenue Officer of Dayforce, Inc., reported transactions involving Dayforce's common stock.
- 11,047 shares were forfeited to cover withholding taxes related to the vesting of 26,271 shares of common stock from a restricted stock unit (RSU) award granted on June 9, 2023.
- Alkharrat now beneficially owns 90,234 shares of Dayforce common stock.
- This includes 15,713 shares, with 247 acquired through the Employee Stock Purchase Plan on March 31, 2024, 52,543 shares issuable through RSUs, and 21,978 shares issuable through RSUs granted on March 1, 2024.
- Alkharrat also holds performance units (PSUs) that represent a contingent right to receive shares of common stock based on the achievement of performance metrics.
Sentiment
Score: 6
Explanation: The document is a standard regulatory filing detailing stock transactions. It doesn't contain overtly positive or negative information, but the vesting of shares is generally a positive sign for the executive.
Future Outlook
The document outlines future vesting dates for RSUs and PSUs, contingent on continued employment and achievement of performance metrics.
Industry Context
Form 4 filings are a routine part of executive compensation and provide transparency into insider transactions, which are closely monitored by investors.
Comparison to Industry Standards
- Executive compensation packages, including RSUs and PSUs, are common across publicly traded companies to align management's interests with those of shareholders.
- The vesting schedules and performance metrics associated with these awards are typically benchmarked against industry peers to ensure competitiveness and effectiveness.
- Companies like Workday and Oracle also utilize similar equity-based compensation strategies for their executives.
Stakeholder Impact
- Shareholders may view the vesting of shares as a sign of continued commitment from the executive.
- The forfeiture of shares for tax withholding has no direct impact on other stakeholders.
Key Dates
| Date | Description |
|---|---|
| 03/31/2024 | 247 shares acquired under the Dayforce, Inc. Global Employee Stock Purchase Plan |
| 06/09/2023 | Date of RSU grant related to the vesting of 26,271 shares on June 9, 2024 |
| 06/09/2024 | Date of transaction: Forfeiture of 11,047 shares for tax withholding and vesting of 26,271 shares |
| 06/09/2025 | Vesting date for 26,271 shares of Common Stock from RSUs granted on June 9, 2023 |
| 06/09/2026 | Vesting date for 26,272 shares of Common Stock from RSUs granted on June 9, 2023 |
| 03/01/2024 | Date of RSU grant related to 21,978 shares of Common Stock |
| 03/01/2025 | Vesting date for 7,326 shares of Common Stock from RSUs granted on March 1, 2024 |
| 03/01/2026 | Vesting date for 7,326 shares of Common Stock from RSUs granted on March 1, 2024 |
| 03/01/2027 | Vesting date for 7,326 shares of Common Stock from RSUs granted on March 1, 2024 |
| 03/01/2034 | Expiration date for Performance Units |
| 06/11/2024 | Date of signature by attorney-in-fact |
| 12/31/2024 | Fiscal year end for performance metric evaluation related to PSUs |
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