Form 4: Dayforce Executive Reports Stock Transactions Following RSU and PSU Vesting
SEC Form 4 Filing
Jeffrey Scott Jacobs, Head of Accounting & Financial Reporting at Dayforce, Inc., reports the acquisition and disposal of common stock related to the vesting of restricted stock units (RSUs) and performance stock units (PSUs), along with adjustments for tax withholdings.
Summary
- On February 28, 2024, Jeffrey Scott Jacobs, Head of Accounting & Financial Reporting at Dayforce, Inc., reported transactions involving Dayforce's common stock.
- These transactions are related to the vesting of 2,742 shares of common stock from a restricted stock unit (RSU) award granted on February 28, 2023.
- 840 shares were forfeited to cover withholding taxes at a price of $71.05 per share, and 1,902 shares were issued to Jacobs.
- Additionally, 713 shares of common stock vested from a performance stock unit (PSU) award granted on February 28, 2023.
- 219 shares were forfeited to cover withholding taxes at $71.05 per share, and 494 shares were issued to Jacobs.
- Following these transactions, Jacobs directly owns 19,245 shares of Dayforce common stock.
- Jacobs also holds options to purchase shares of common stock at various exercise prices and vesting schedules, as well as performance units that will convert into common stock upon vesting.
Sentiment
Score: 6
Explanation: The document is a routine regulatory filing detailing stock transactions related to executive compensation. It doesn't contain information that would significantly impact investor sentiment positively or negatively.
Positives
- The vesting of RSUs and PSUs indicates that Jacobs is receiving compensation in the form of company stock, aligning his interests with those of the shareholders.
- The report shows Jacobs continues to hold a significant number of shares and options, demonstrating a continued investment in the company's future.
Industry Context
Form 4 filings are a routine part of executive compensation and are common across publicly traded companies. They provide transparency into the trading activities of company insiders.
Stakeholder Impact
- The transactions have a minor impact on shareholders as they reflect the standard compensation practices for company executives.
- Employees may be interested in the details of executive compensation as it relates to company performance and stock-based awards.
Key Dates
| Date | Description |
|---|---|
| 03/08/2021 | Date of RSU award grant, with 824 shares vesting on March 8, 2024. |
| 02/24/2022 | Date of RSU award grant, with 1,412 shares vesting on February 24, 2025. |
| 02/28/2023 | Date of RSU and PSU award grants, with shares vesting on February 28, 2024, February 28, 2025, and February 28, 2026. |
| 05/08/2023 | Date when 10,724 options were vested and exercisable. |
| 02/28/2024 | Date of reported transactions involving vesting of RSUs and PSUs. |
| 03/01/2024 | Date of signature on the Form 4 filing. |
| 03/08/2024 | Vesting date of 824 PSUs granted on March 8, 2021. |
| 05/08/2024 | Date when 3,575 options vest and become exercisable. |
| 02/24/2025 | Vesting date of 1,176 PSUs granted on February 24, 2022. |
| 02/24/2025 | Vesting date of 1,412 shares of RSU granted on February 24, 2022. |
| 02/28/2025 | Vesting date of 2,742 shares of RSU granted on February 28, 2023. |
| 02/28/2026 | Vesting date of 2,743 shares of RSU granted on February 28, 2023. |
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