Form 4: EnerSys CEO David M. Shaffer Receives Stock Units Following Dividend Payment
SEC Form 4
EnerSys CEO David M. Shaffer received additional Restricted Stock Units (RSUs) on September 30, 2024, as a result of a cash dividend paid to stockholders.
Summary
- On September 30, 2024, David M. Shaffer, President & CEO of EnerSys, acquired additional shares of common stock in the form of Restricted Stock Units (RSUs).
- These RSUs were granted in connection with a cash dividend paid to stockholders of record as of September 16, 2024.
- The RSUs are related to previously granted unvested RSUs from August 2021, August 2022, August 2023 and August 2024.
- Shaffer received 15.6557 RSUs related to the 2021 grant, 44.9835 RSUs related to the 2022 grant, 50.7616 RSUs related to the 2023 grant, and 72.4338 RSUs related to the 2024 grant.
- Following these transactions, Shaffer beneficially owns 226,723.8402 shares of EnerSys common stock.
- The RSUs will vest and are payable concurrent with the underlying RSUs.
Sentiment
Score: 7
Explanation: The document reflects a routine executive compensation adjustment following a dividend payment, which is generally viewed neutrally to positively as it aligns executive and shareholder interests.
Positives
- The receipt of RSUs due to the dividend payment does not represent an outlay of cash by the executive.
- The executive's holdings in the company have increased.
Industry Context
Executive compensation through stock grants and RSUs is a common practice in publicly traded companies to align management's interests with those of shareholders.
Stakeholder Impact
- The grant of RSUs to the CEO aligns his interests with those of shareholders.
- The dividend payment benefits shareholders.
Key Dates
| Date | Description |
|---|---|
| 08/16/2021 | Date of original grant of 6,351 unvested RSUs to the reporting person. |
| 08/12/2022 | Date of original grant of 18,429 unvested RSUs to the reporting person. |
| 08/11/2023 | Date of original grant of 20,985 unvested RSUs to the reporting person. |
| 08/09/2024 | Date of original grant of 30,223 unvested RSUs to the reporting person. |
| 09/16/2024 | Record date for the cash dividend. |
| 09/30/2024 | Transaction date: Grant of RSUs in connection with the cash dividend. |
| 10/02/2024 | Date of Form 4 filing. |
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