Form 4: Gates Industrial Corp PLC: Chief Legal Officer Cristin C. Bracken Reports Stock Transactions
SEC Form 4 Filing
Cristin C. Bracken, Chief Legal Officer of Gates Industrial Corp PLC, reports the vesting of restricted stock units and subsequent share withholding for tax obligations.
Summary
- On July 27, 2024, Cristin C. Bracken, Chief Legal Officer of Gates Industrial Corp PLC, reported transactions involving ordinary shares and time-based restricted stock units (TBRSUs).
- 20,347 TBRSUs vested on the anniversary of the grant date, each representing a contingent right to receive one ordinary share.
- 8,723 ordinary shares were withheld at a price of $17.84 to satisfy par value and tax withholding obligations related to the vesting of the TBRSUs.
- Following these transactions, Bracken directly owns 61,582 ordinary shares and 77,807 TBRSUs subject to future vesting.
Sentiment
Score: 5
Explanation: This is a neutral report on stock transactions related to executive compensation. It doesn't inherently indicate positive or negative sentiment.
Industry Context
This filing is a routine disclosure related to executive compensation and stock ownership, common in publicly traded companies. It provides transparency to investors regarding the holdings and transactions of company insiders.
Key Dates
| Date | Description |
|---|---|
| 07/27/2024 | Date of vesting of time-based restricted stock units and share withholding for tax obligations. |
| 10/02/2024 | Date of signature for the Form 4 filing. |
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