Form 4: Enact Holdings EVP Michael Derstine Reports Stock Transactions
SEC Form 4 Filing
Michael Derstine, EVP and Chief Risk Officer of Enact Holdings, Inc., reports the vesting and subsequent tax withholding of shares related to restricted stock units.
Summary
- On September 15, 2024, Michael Derstine, EVP and Chief Risk Officer of Enact Holdings, Inc., had 25,347 restricted stock units vest.
- These units, which convert to common stock on a 1:1 basis, vested on the third anniversary of the grant date, September 15, 2021.
- Enact Holdings withheld 9,346 shares of common stock at a price of $36.1 to satisfy tax withholding obligations related to the vesting.
- Following these transactions, Derstine directly owns 26,495 shares of Enact Holdings common stock.
Sentiment
Score: 5
Explanation: This is a routine disclosure of stock transactions related to executive compensation. It doesn't inherently indicate positive or negative sentiment.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This filing indicates the vesting of previously granted equity compensation.
Stakeholder Impact
- The vesting of restricted stock units and subsequent tax withholding may have a minor dilutive effect on existing shareholders.
Key Dates
| Date | Description |
|---|---|
| 09/15/2021 | Grant date of the restricted stock units. |
| 09/15/2024 | Vesting date of the restricted stock units and tax withholding. |
| 09/17/2024 | Date of the report filing. |
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