Form 4: Dentsply Sirona Executive Erania Brackett Reports Changes in Beneficial Ownership

Erania Brackett, SVP and Chief Marketing Officer of Dentsply Sirona, reports an acquisition of phantom stock units under the Supplemental Executive Retirement Plan (SERP).

Summary

• On March 18, 2024, Erania Brackett, SVP and Chief Marketing Officer of Dentsply Sirona, reported a transaction involving phantom stock.
• Brackett acquired 1,512.051 units of phantom stock through the company's Supplemental Executive Retirement Plan (SERP).
• The phantom stock is the economic equivalent of common stock and becomes payable upon termination of employment.
• The SERP contribution for the year 2023 was based on the closing price of Dentsply Sirona's common stock on December 29, 2023, which was $35.59.
• Following the reported transaction, Brackett beneficially owns 2,736.5364 units of phantom stock.

Sentiment

Score: 6

Explanation: The document is a routine regulatory filing related to executive compensation. It doesn't contain any information that would significantly impact investor sentiment positively or negatively. It is a neutral event.

Positives

• The acquisition of phantom stock aligns the executive's interests with the long-term performance of the company.
• The SERP plan provides a retirement benefit to the executive.

Future Outlook

The phantom stock becomes 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 management's interests with shareholder value and long-term company performance. This is a common practice in publicly traded companies to incentivize executives.

Comparison to Industry Standards

• Phantom stock plans are a fairly standard component of executive compensation packages in publicly traded companies, particularly in the healthcare and dental industries.
• Companies like Align Technology and Straumann also utilize equity-based compensation to incentivize their executives.
• The specific terms and conditions of these plans can vary widely, but the underlying principle of aligning executive interests with shareholder value remains consistent.

Stakeholder Impact

• The transaction has a minimal direct impact on stakeholders.
• It reflects ongoing executive compensation arrangements.

Key Dates