Form 4: Expeditors International CEO Jeffrey Musser Reports Changes in Beneficial Ownership
SEC Form 4 Filing
CEO Jeffrey Musser reports acquisition of dividend equivalent rights related to restricted stock units.
Summary
- On June 17, 2024, Jeffrey S Musser, the President and CEO of Expeditors International of Washington Inc, reported changes in his beneficial ownership of the company's stock.
- Musser acquired dividend equivalent rights related to the 2022, 2023, and 2024 grants of restricted stock units (RSUs).
- Specifically, he acquired 28.425 dividend equivalent rights for 2022 RSUs, 50.865 dividend equivalent rights for 2023 RSUs, and 74.339 dividend equivalent rights for 2024 RSUs.
- These rights represent a contingent right to receive the economic equivalent of one common share of the Issuer and vest proportionately with the RSUs to which they relate.
- Following these transactions, Musser directly owns 136,876.7944 shares of common stock and indirectly owns 112,513 shares through a trust.
- The price of the dividend equivalent rights was $123.73 per right.
Sentiment
Score: 5
Explanation: The document is a neutral regulatory filing. It doesn't inherently convey 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 changes in the CEO's holdings of derivative securities related to company stock.
Stakeholder Impact
- The filing provides transparency to shareholders regarding the CEO's holdings and compensation structure.
Key Dates
| Date | Description |
|---|---|
| 06/17/2024 | Date of earliest transaction (acquisition of dividend equivalent rights) |
| 06/20/2024 | Date of signature by Diane Heffner, Stock Plan Administrator, attorney-in-fact |
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