Form 4: EnerSys Executive Receives Stock Units as Dividend Adjustment

Joern Tinnemeyer, Sr. VP & CTO of EnerSys, received additional Restricted Stock Units (RSUs) due to a cash dividend paid to stockholders.

Summary

• On March 29, 2024, Joern Tinnemeyer, Sr. VP & CTO of EnerSys, received 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 March 15, 2024.
• The RSUs are related to previously granted unvested RSUs from August 2020, August 2021, August 2022, and August 2023.
• A total of 3.2526, 3.8523, 11.9112, and 11.7768 RSUs were granted related to the August 2020, August 2021, August 2022, and August 2023 grants respectively.
• The RSUs will vest and are payable concurrent with the underlying RSUs.
• Following the transaction, Tinnemeyer beneficially owns 24,382.7884 shares of EnerSys common stock.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction related to executive compensation and dividend policy, suggesting a stable and predictable financial environment for the company.

Positives

• The receipt of RSUs as a dividend adjustment indicates that the company is performing well enough to pay dividends.

Industry Context

Executive compensation through stock options and RSUs is a common practice in publicly traded companies to align management's interests with those of shareholders.

Comparison to Industry Standards

• EnerSys's executive compensation practices, including the use of RSUs, are generally in line with industry standards for publicly traded companies of similar size and scope.
• Companies like Exide Technologies (prior to its restructuring) and Clarios (private) also utilized stock-based compensation for their executives.
• The specific number of RSUs granted as a dividend adjustment is dependent on the company's dividend policy and the number of unvested RSUs held by the executive.

Stakeholder Impact

• The grant of RSUs to executives aligns their interests with those of shareholders, potentially incentivizing them to improve company performance and increase shareholder value.

Key Dates