Form 4: Fresh Del Monte Produce Inc. Executive Sells Shares to Cover Tax Obligations
SEC Form 4
Effie D. Silva, SVP, General Counsel & Secretary of Fresh Del Monte Produce Inc., sold shares to cover withholding tax obligations related to the vesting of restricted stock units and performance stock units.
Summary
- On March 3, 2025, Effie D. Silva, SVP, General Counsel & Secretary of Fresh Del Monte Produce Inc., sold 2,124 ordinary shares at a price of $30.42 per share.
- This transaction was to cover withholding tax obligations on the settlement of previously reported vesting of Restricted Stock Units (RSUs) and Performance Stock Units (PSUs).
- Following the transaction, Silva beneficially owns 8,692.0925 ordinary shares.
- Silva also holds derivative securities including Dividend Equivalent Units (DEUs), Restricted Stock Units (RSUs), and Performance Stock Units (PSUs) which will vest over the next three years.
Sentiment
Score: 5
Explanation: Neutral sentiment as the document simply reports a routine transaction related to executive compensation and tax obligations.
Future Outlook
The document outlines future vesting dates for RSUs and PSUs, indicating continued equity-based compensation for the reporting person.
Industry Context
Form 4 filings are routine disclosures that provide transparency into the trading activities of company insiders, allowing investors to track management's sentiment and actions regarding their company's stock.
Stakeholder Impact
- The sale of shares by an executive could have a minor impact on shareholder sentiment, but is unlikely to be significant given the reason for the sale.
Key Dates
| Date | Description |
|---|---|
| 03/02/2023 | RSUs were awarded and vest in three equal installments over three years. |
| 03/01/2024 | PSUs were awarded subject to meeting minimum performance criteria which was met at 100%. |
| 03/03/2025 | Date of transaction: sale of shares and awarding of new RSUs and PSUs. |
| 03/03/2026 | First vesting date for RSUs awarded on 03/03/2025. |
| 03/02/2026 | Remaining vesting will occur for RSUs awarded on 03/02/2023. |
| 03/01/2026 | Remaining vesting will occur for PSUs awarded on 03/01/2024. |
| 03/03/2027 | Second vesting date for RSUs and PSUs awarded on 03/03/2025. |
| 03/01/2027 | Remaining vesting will occur for PSUs awarded on 03/01/2024. |
| 03/03/2028 | Final vesting date for RSUs and PSUs awarded on 03/03/2025. |
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