Form 4: Gartner Executive Exercises SARs, Adjusts Holdings

Gartner EVP Claire Herkes exercised stock appreciation rights, acquiring 3,052 shares and subsequently disposing of shares to cover exercise costs and taxes.

Summary

• Claire Herkes, EVP, Conferences at Gartner Inc. (IT), reported transactions on November 28, 2025.
• Exercised Stock Appreciation Rights (SARs) to acquire 3,052 shares of Common Stock at an exercise price of $180.64 per share.
• Subsequently disposed of 2,369 shares of Common Stock at $232.74 per share to cover the aggregate exercise price of the SARs.
• Further disposed of 316 shares of Common Stock at $232.74 per share for the payment of applicable income and payroll withholding taxes.
• Following these transactions, Herkes beneficially owns 4,441 shares of Gartner Common Stock directly.

Sentiment

Score: 6

Explanation: The sentiment is neutral to slightly positive. While shares were disposed of, it was for a routine compensation event (SAR exercise and tax withholding), indicating the executive realized value from their equity compensation. It does not suggest a negative outlook on the company.

Positives

• An executive exercised Stock Appreciation Rights, indicating a realization of value from their compensation package.
• The exercise price of the SARs ($180.64) was significantly lower than the market price at the time of disposal ($232.74), reflecting a gain for the executive.

Negatives

• A portion of the acquired shares (2,369 shares) was immediately disposed of to cover the exercise price of the SARs.
• An additional 316 shares were disposed of to cover income and payroll withholding taxes, reducing the net shares held.

Future Outlook

This Form 4 filing does not contain any forward-looking statements or guidance regarding the company's future outlook.

Industry Context

This transaction is a routine insider filing common across all industries, reflecting an executive's exercise of equity compensation. It does not provide specific insights into Gartner's competitive position or broader industry trends, but rather details a standard compensation event.

Stakeholder Impact

• Shareholders: This is a routine insider transaction and is unlikely to have a significant direct impact on shareholders. It reflects an executive realizing value from their compensation, which is a normal part of executive incentive structures.
• Employees: No direct impact on employees is indicated by this filing.

Key Dates

Recommendation

This Form 4 filing details a routine, compensation-related insider transaction where an executive exercised Stock Appreciation Rights and subsequently sold shares to cover the exercise cost and taxes. Such transactions are generally pre-scheduled and do not typically signal a change in management's outlook on the company's future performance. While the executive realized a gain, the net change in beneficial ownership is a reduction due to the sales for cost and taxes. Therefore, this filing alone does not provide sufficient new information to alter an investment thesis, warranting a 'hold' recommendation.

Keywords

Gartner, IT, Form 4, Insider Transaction, Executive Compensation, Stock Appreciation Rights, SARs, Equity Compensation