Form 4: Executive Glenn Coleman Reports Changes in Beneficial Ownership of DENTSPLY SIRONA Inc. Stock
SEC Form 4 Filing
Glenn Coleman, Executive VP & CFO of DENTSPLY SIRONA Inc., reports changes in beneficial ownership of company stock due to dividend accrual on restricted stock units and phantom stock.
Summary
- Glenn Coleman, Executive VP & CFO of DENTSPLY SIRONA Inc., filed a Form 4 detailing changes in his beneficial ownership of the company's stock.
- On October 11, 2024, Coleman acquired 375.279 shares of common stock through dividends on restricted stock units (RSUs).
- These RSUs vest simultaneously with the underlying awards and convert to common stock on a 1:1 basis.
- Also on October 11, 2024, Coleman acquired 12.2776 shares of phantom stock as a result of accrued dividends within the Supplemental Executive Retirement Plan (SERP).
- Each share of phantom stock is the economic equivalent of one share of common stock and becomes payable upon termination of employment.
- Following these transactions, Coleman beneficially owns 89,767.654 shares of common stock and 1,892.0687 shares of phantom stock.
Sentiment
Score: 5
Explanation: The document is a standard SEC filing detailing routine transactions related to executive compensation. It doesn't contain information that would significantly impact investor sentiment positively or negatively.
Industry Context
This filing is a routine disclosure related to executive compensation and ownership changes, common in publicly traded companies. It provides transparency to investors regarding the holdings of company insiders.
Comparison to Industry Standards
- Executive compensation packages often include restricted stock units (RSUs) and phantom stock as long-term incentives.
- Dividend accruals on RSUs are a standard practice to ensure executives receive the full economic benefit of their equity awards.
- Companies like Align Technology and Straumann also utilize similar equity-based compensation strategies for their executives.
Stakeholder Impact
- The filing provides transparency to shareholders regarding executive compensation and ownership.
- It assures stakeholders that executives' interests are aligned with those of the shareholders through equity ownership.
Key Dates
| Date | Description |
|---|---|
| 10/11/2024 | Date of common stock and phantom stock acquisition due to dividends. |
| 10/15/2024 | Date of signature on the Form 4 filing. |
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