Form 4: Edgewell Personal Care Executive Receives Restricted Stock Equivalents
SEC Form 4 Filing
Daniel Sullivan, CFO & President, Europe & LATAM at Edgewell Personal Care, was granted 17,700 restricted stock equivalents.
Summary
- Daniel Sullivan, the CFO & President, Europe & LATAM of Edgewell Personal Care, received 17,700 restricted stock equivalents (RSEs) on November 8, 2024.
- These RSEs will vest and convert into shares of Edgewell common stock in three equal installments on November 8, 2025, November 8, 2026, and November 8, 2027, contingent upon Mr. Sullivan's continued employment.
- The vesting of the RSEs may also occur upon death, disability, change in control, or certain termination events.
Sentiment
Score: 7
Explanation: The document reflects a standard executive compensation practice, which is generally viewed positively as it aligns management and shareholder interests. There are no negative implications.
Positives
- The grant of restricted stock equivalents aligns the executive's interests with those of the shareholders.
- The vesting schedule encourages long-term commitment from the executive.
Risks
- The vesting of the RSEs is contingent upon continued employment, which could be a risk if the executive leaves the company before the vesting dates.
Future Outlook
The document does not contain any forward-looking statements or guidance.
Industry Context
The granting of restricted stock equivalents is a common practice in executive compensation to align management's interests with those of shareholders and encourage long-term performance.
Comparison to Industry Standards
- Many companies in the consumer goods sector use restricted stock units or equivalents as part of their executive compensation packages.
- The vesting schedule of one-third per year over three years is a fairly standard approach to ensure retention and long-term focus.
- Companies like Procter & Gamble and Unilever also use similar equity-based compensation plans for their executives.
Stakeholder Impact
- Shareholders may view this positively as it aligns executive interests with company performance.
- Employees may see this as a positive sign of the company's commitment to its leadership.
Key Dates
| Date | Description |
|---|---|
| 11/08/2024 | Date of the grant of 17,700 restricted stock equivalents. |
| 11/08/2025 | First vesting date for one-third of the RSEs. |
| 11/08/2026 | Second vesting date for one-third of the RSEs. |
| 11/08/2027 | Third and final vesting date for one-third of the RSEs. |
| 11/12/2024 | Date of signature of the form. |
Keywords
restricted stock equivalents, RSE, executive compensation, stock options, Edgewell Personal Care, Daniel Sullivan, vesting
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