Form 4: Dentsply Sirona CEO Simon Campion Reports Phantom Stock Acquisition

Dentsply Sirona's CEO, Simon Campion, reports the acquisition of phantom stock units under the Supplemental Executive Retirement Plan (SERP).

Summary

• Simon D. Campion, CEO and a member of the Board of Directors of Dentsply Sirona Inc. (XRAY), filed a Form 4.
• The filing reports a transaction involving phantom stock acquired on March 18, 2024.
• This phantom stock was acquired through the Supplemental Executive Retirement Plan (SERP).
• A total of 3,434.55 phantom stock units were acquired, each representing the economic equivalent of one share of common stock.
• The phantom stock is payable in common stock upon the termination of employment.
• The acquisition is a SERP contribution for the year 2023, based on the closing price on December 29, 2023.
• The price of the phantom stock is $35.59 per unit.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. It reflects a routine executive compensation disclosure, indicating alignment of management interests with shareholders through equity-based compensation.

Positives

• The acquisition of phantom stock aligns the CEO's interests with the long-term performance of the company.
• The SERP contribution indicates a continued investment in executive compensation and retention.

Future Outlook

The phantom stock will be payable in common stock upon the reporting person's termination of employment.

Industry Context

Executive compensation packages often include phantom stock or similar instruments to align executive interests with shareholder value and long-term company performance. This is a common practice in publicly traded companies.

Comparison to Industry Standards

• Companies like Align Technology (ALGN) and Envista Holdings (NVST), which operate in similar industries, also utilize equity-based compensation plans for their executives.
• These plans often include stock options, restricted stock units (RSUs), and performance-based equity awards.
• The specific terms and conditions of these plans vary depending on the company's size, performance, and compensation philosophy.

Stakeholder Impact

• The acquisition of phantom stock aligns the CEO's interests with shareholders, potentially driving long-term value creation.
• Employees may view the SERP contribution as a positive sign of the company's commitment to executive compensation.

Key Dates