Form 4: Ford Executive Theodore Cannis Reports Stock Transactions

Ford Motor Company executive Theodore J. Cannis reports the acquisition and disposal of Ford stock units and common stock related to the company's Long-Term Incentive Plan.

Summary

• Theodore J. Cannis, CEO of Ford Pro and FCSD, reported transactions involving Ford Motor Company's common stock and stock units.
• On March 3, 2024, Cannis converted 6,054 Ford Stock Units into shares of common stock under the company's Long-Term Incentive Plan.
• On March 4, 2024, Cannis acquired 29,731 shares under the Long-Term Incentive Plan related to a 2021 performance-based restricted stock unit opportunity.
• Additional acquisitions of common stock occurred on March 4, 2024, through the conversion of Ford Stock Units: 5,405 units, then 5,059 units.
• On March 4, 2024, 13,366 shares were withheld by the company at a price of $12.45 to cover income tax liabilities related to the vesting of awards.
• Cannis also acquired 45,211 Ford Restricted Stock Units under the Long-Term Incentive Plan, which will convert to common stock over three years.
• The reporting person has appointed Douglas J. Cropsey, Jonathan E. Osgood, Blair F. Petrillo, Brandon M. Warrington, David J. Witten, and Claire B. Ziegeler as attorneys-in-fact to handle SEC filings.
• The power of attorney was signed on January 19, 2024.

Sentiment

Score: 6

Explanation: The document is neutral, reporting standard executive stock transactions. It doesn't contain overtly positive or negative information.

Positives

• The acquisition of shares under the Long-Term Incentive Plan indicates a continued investment in the company by the executive.

Negatives

• The withholding of shares to cover tax liabilities could be seen as a minor dilution of holdings.

Risks

• There are no specific risks mentioned in this document, as it primarily details stock transactions.

Industry Context

Executive stock transactions are a common occurrence in publicly traded companies and are often related to compensation plans and incentives. This filing provides transparency into the executive's holdings and transactions.

Comparison to Industry Standards

• Executive compensation packages, including stock options and restricted stock units, are standard practice among publicly traded companies like Ford, General Motors, and Tesla.
• The vesting schedules and terms of Ford's Long-Term Incentive Plan are likely comparable to those offered by its peers to incentivize long-term performance and retention.

Stakeholder Impact

• The transactions may have a minor impact on shareholders due to the change in the number of outstanding shares, but the overall impact is likely minimal.

Key Dates