Form 4: Expeditors International of Washington Inc: SVP Chief Strategy Officer Benjamin G. Clark Reports Changes in Beneficial Ownership
SEC Form 4
Benjamin G. Clark, SVP Chief Strategy Officer of Expeditors International of Washington Inc, reports changes in beneficial ownership due to the acquisition of dividend equivalent rights related to restricted stock units.
Summary
- On June 17, 2024, Benjamin G. Clark, SVP Chief Strategy Officer of Expeditors International of Washington Inc, reported changes in beneficial ownership.
- The changes involve the acquisition of dividend equivalent rights related to the 2022, 2023, and 2024 grants of restricted stock units (RSUs).
- Specifically, 5.112 dividend equivalent rights were acquired for the 2022 RSUs, 9.134 for the 2023 RSUs, and 13.346 for the 2024 RSUs, all at a price of $123.73.
- Following these transactions, Clark directly owns 26.557 dividend equivalent rights related to the 2022 RSUs, 27.209 related to the 2023 RSUs, and 13.346 related to the 2024 RSUs, in addition to 20,684.104 shares of common stock.
Sentiment
Score: 7
Explanation: The sentiment is neutral to slightly positive as it reflects standard executive compensation practices and alignment of interests. There are no indications of negative events or concerns.
Positives
- The acquisition of dividend equivalent rights suggests continued alignment of the executive's interests with those of the shareholders.
Industry Context
Form 4 filings are routine and provide transparency into the transactions of company insiders, allowing investors to track ownership changes and potential alignment of interests.
Comparison to Industry Standards
- Executive compensation packages often include restricted stock units and dividend equivalent rights to incentivize long-term performance and align executive interests with shareholder value.
- Companies like C.H. Robinson Worldwide and JB Hunt also utilize similar equity-based compensation strategies for their executives.
Stakeholder Impact
- The reported transactions provide transparency to shareholders regarding executive compensation and ownership.
Key Dates
| Date | Description |
|---|---|
| 06/17/2024 | Date of the transaction involving the acquisition of dividend equivalent rights. |
| 06/20/2024 | Date of signature by Diane Heffner, Stock Plan Administrator, attorney-in-fact. |
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