Form 4: Fresh Del Monte Produce Inc. Executive Sells Shares to Cover Taxes on Vesting Equity Awards
SEC Form 4
Alexandre Apparecido, VP of Global Internal Audit at Fresh Del Monte Produce Inc., sold 797 shares to cover taxes related to vesting restricted stock units and performance stock units.
Summary
- On March 5, 2024, Alexandre Apparecido, VP of Global Internal Audit at Fresh Del Monte Produce Inc., sold 797 ordinary shares at a price of $24.35 per share.
- The sale was executed to cover taxes payable upon the vesting of Restricted Stock Units (RSUs) and Performance Stock Units (PSUs).
- Following the transaction, Apparecido directly owns 1,881 ordinary shares.
- Apparecido also holds derivative securities including Dividend Equivalent Units (DEUs), Restricted Stock Units (RSUs), and Performance Stock Units (PSUs) which will convert to ordinary shares as they vest.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing related to insider trading. It doesn't inherently convey positive or negative sentiment, as it simply reports a transaction.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. These filings are closely watched by investors seeking insights into management's perspective on the company's stock.
Stakeholder Impact
- The sale of shares by a company executive can sometimes be perceived negatively by shareholders, but in this case, it is a routine transaction to cover tax obligations.
Key Dates
| Date | Description |
|---|---|
| 03/30/2020 | RSUs were awarded and vest in five equal annual installments. |
| 03/01/2021 | PSUs were awarded and vest in three equal annual installments. |
| 03/30/2021 | RSUs were awarded and vest in five equal annual installments. |
| 06/15/2022 | RSUs were awarded and vest in three equal annual installments; PSUs were awarded and vest in three equal annual installments. |
| 03/02/2023 | RSUs were awarded and vest in three equal annual installments. |
| 03/05/2024 | Alexandre Apparecido sold 797 shares at $24.35 per share. |
| 03/07/2024 | Date of Form 4 filing. |
| 03/01/2024 | PSUs were awarded and vest in three equal annual installments. |
| 03/30/2024 | Remaining vesting of RSUs awarded on 3/30/2020. |
| 03/30/2024 | Remaining vesting of RSUs awarded on 3/30/2021. |
| 03/01/2024 | Remaining vesting of PSUs awarded on 3/1/2021. |
| 03/02/2025 | Remaining vesting of RSUs awarded on 6/15/2022. |
| 03/30/2025 | Remaining vesting of RSUs awarded on 3/30/2021. |
| 03/02/2025 | Remaining vesting of RSUs awarded on 3/2/2023. |
| 03/02/2025 | Remaining vesting of PSUs awarded on 6/15/2022. |
| 03/01/2025 | First vesting date of PSUs awarded on 3/1/2024. |
| 03/01/2026 | Second vesting date of PSUs awarded on 3/1/2024. |
| 03/01/2027 | Third vesting date of PSUs awarded on 3/1/2024. |
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