Form 4: Fresh Del Monte Produce Inc. Executive Sells Shares to Cover Tax Obligations
SEC Form 4 Filing
Ziad Nabulsi, SVP of North American Operations at Fresh Del Monte Produce Inc., sold 1,725 ordinary shares to cover withholding tax obligations related to the vesting of restricted stock units and performance stock units.
Summary
- On March 3, 2025, Ziad Nabulsi, SVP of North American Operations at Fresh Del Monte Produce Inc., sold 1,725 ordinary shares at a price of $30.42 per share.
- The sale 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, Nabulsi directly owns 11,498 ordinary shares.
- Nabulsi also holds derivative securities including Dividend Equivalent Units (DEUs), Restricted Stock Units (RSUs), and Performance Stock Units (PSUs) which convert to Ordinary Shares on a one-for-one basis.
- The RSUs and PSUs vest over three years in equal installments.
Sentiment
Score: 5
Explanation: The document is a standard SEC Form 4 filing, indicating a routine transaction. It doesn't contain information that would significantly sway investor sentiment positively or negatively.
Industry Context
Executive stock sales are a common occurrence, often related to compensation and tax obligations; the sale itself doesn't necessarily indicate a negative outlook for the company.
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% and vest in three equal annual installments. |
| 03/03/2025 | Date of transaction: sale of shares to cover tax obligations; RSUs and PSUs were awarded and vest in three equal installments over three years. |
| 03/05/2025 | Date of signature on the Form 4 filing. |
| 03/02/2026 | Remaining vesting date for RSUs awarded on 3/2/2023. |
| 03/03/2026 | First vesting date for RSUs awarded on 3/3/2025 and PSUs awarded on 3/3/2025. |
| 03/01/2026 | Remaining vesting date for PSUs awarded on 3/1/2024. |
| 03/03/2027 | Second vesting date for RSUs awarded on 3/3/2025 and PSUs awarded on 3/3/2025. |
| 03/01/2027 | Remaining vesting date for PSUs awarded on 3/1/2024. |
| 03/03/2028 | Final vesting date for RSUs awarded on 3/3/2025 and PSUs awarded on 3/3/2025. |
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