Form 4: Dentsply Sirona Executive Richard M. Wagner Reports Phantom Stock Acquisition

Richard M. Wagner, VP and Chief Accounting Officer of Dentsply Sirona, reports the acquisition of phantom stock units under the company's Supplemental Executive Retirement Plan (SERP).

Summary

• Richard M. Wagner, VP, Chief Accounting Officer of Dentsply Sirona Inc., filed a Form 4 on March 19, 2024, reporting a transaction.
• The transaction involved the acquisition of 903.962 units of phantom stock under the Supplemental Executive Retirement Plan (SERP) on March 18, 2024.
• Each phantom stock unit is economically equivalent to one share of Dentsply Sirona common stock and becomes payable upon termination of employment.
• The phantom stock was acquired as a contribution for the year 2023, based on the closing price of Dentsply Sirona's common stock on December 29, 2023, which was $35.59.
• Following the reported transaction, Wagner directly owns 903.962 units of phantom stock.

Sentiment

Score: 7

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. The sentiment is neutral to slightly positive due to the alignment of executive interests with shareholders.

Positives

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

Future Outlook

The document does not contain any specific forward-looking statements.

Industry Context

Executive compensation through equity-based plans like phantom stock is a common practice in publicly traded companies to incentivize performance and align management interests with shareholders.

Comparison to Industry Standards

• Many companies in the healthcare and dental equipment industry, such as Align Technology and Straumann, utilize equity-based compensation plans for their executives.
• Phantom stock plans are often used as a deferred compensation mechanism, providing executives with a stake in the company's future success without immediate dilution of existing shareholders' equity.
• The specific terms and amounts of these plans vary widely based on company size, performance, and individual executive roles.

Stakeholder Impact

• Shareholders may view the phantom stock acquisition as a positive sign, indicating that management's interests are aligned with the company's long-term success.
• Employees may see the SERP as a valuable benefit, contributing to employee retention.

Key Dates