Form 4: Enterprise Financial Services Corp: Executive Goodman Receives Stock Options and Restricted Share Units
SEC Form 4
Scott Richard Goodman, President of Enterprise Financial Services Corp, reports acquisition of stock options and restricted share units.
Summary
- Scott Richard Goodman, President of Enterprise Financial Services Corp, filed a Form 4 detailing changes in beneficial ownership.
- The report indicates the acquisition of 9,817 non-qualified stock options at an exercise price of $39.5, exercisable in the first quarter of 2027, and 1,875 restricted share units (RSUs) vesting in the first quarter of 2027.
- Goodman also holds existing non-qualified stock options: 6,280 exercisable in the first quarter of 2025 at $43.81, 6,631 exercisable in the first quarter of 2026 at $48.34, and 6,474 exercisable in the first quarter of 2027 at $54.46.
- He also holds existing RSUs: 1,172 vesting in the first quarter of 2025, 1,323 vesting in the first quarter of 2026, and 9,978 vesting in installments until February 2028.
- Goodman directly owns 57,006 shares of common stock and indirectly owns 4,852 shares through the company's 401(k) plan.
Sentiment
Score: 7
Explanation: The document reflects standard executive compensation practices, which are generally viewed positively as they align management interests with shareholder value. The sentiment is neutral to slightly positive.
Positives
- The grant of stock options and RSUs aligns executive compensation with company performance and shareholder value.
- The vesting schedules of the options and RSUs incentivize long-term employment and commitment from the executive.
Future Outlook
The document does not contain explicit forward-looking statements, but the vesting and exercisability of the options and RSUs are contingent upon continued employment.
Industry Context
This filing is a routine disclosure related to executive compensation practices, which are common in the financial services industry to incentivize performance and retain key personnel.
Comparison to Industry Standards
- Executive compensation packages including stock options and RSUs are standard practice in the financial services industry.
- Companies like JPMorgan Chase, Bank of America, and Citigroup also utilize similar equity-based compensation plans for their executives.
- The specific terms of the grants (vesting schedules, exercise prices) are likely benchmarked against peer companies to ensure competitiveness.
Stakeholder Impact
- Shareholders: The equity-based compensation aims to align executive interests with shareholder value.
- Employees: The grants can serve as a motivation for other employees, demonstrating the company's commitment to rewarding performance.
Key Dates
| Date | Description |
|---|---|
| 02/06/2024 | Date of existing non-qualified stock option grant |
| 02/24/2024 | One-third installment vesting date for 9,978 RSUs |
| 02/25/2031 | Expiration date of existing non-qualified stock option |
| 02/24/2032 | Expiration date of existing non-qualified stock option |
| 02/28/2024 | Date of transaction for stock options and RSUs |
| 02/28/2033 | Expiration date of existing non-qualified stock option |
| 02/28/2034 | Expiration date of new non-qualified stock option |
| 03/01/2024 | Date of Form 4 filing |
| First quarter of 2025 | Vesting date for 1,172 RSUs and exercisable date for 6,280 stock options |
| First quarter of 2026 | Vesting date for 1,323 RSUs and exercisable date for 6,631 stock options |
| 02/24/2026 | One-third installment vesting date for 9,978 RSUs |
| First quarter of 2027 | Vesting date for 1,875 RSUs, exercisable date for 9,817 stock options and exercisable date for 6,474 stock options |
| 02/24/2028 | One-third installment vesting date for 9,978 RSUs |
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.