Form 4: Gates Industrial Corp PLC: Officer Bracken Cristin C. Reports Stock Transactions
SEC Form 4 Filing
Cristin C. Bracken, Chief Legal Officer of Gates Industrial Corp PLC, reports the vesting and subsequent share withholding of time-based restricted stock units.
Summary
- On February 25 and 26, 2024, Cristin C. Bracken, Chief Legal Officer of Gates Industrial Corporation PLC, reported transactions involving ordinary shares and time-based restricted stock units (TBRSUs).
- A total of 11,150 TBRSUs vested and were converted into ordinary shares.
- A portion of the shares were withheld to cover par value and tax obligations.
- The price per share for the withholding was $14.64.
- Following these transactions, Bracken directly owns 43,807 ordinary shares and 77,963 TBRSUs.
Sentiment
Score: 5
Explanation: This Form 4 filing is a neutral event, reflecting routine stock transactions by a company officer. It doesn't inherently indicate positive or negative sentiment.
Future Outlook
The reporting person holds 77,963 TBRSUs outstanding subject to future vesting in three substantially equal annual installments beginning on the first anniversary of the grant date.
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.
Stakeholder Impact
- The transactions provide transparency to shareholders regarding executive compensation and stock ownership.
- The withholding of shares for tax obligations has a minor impact on the company's share count.
Key Dates
| Date | Description |
|---|---|
| 02/25/2024 | Vesting of 8,069 time-based restricted stock units and withholding of 2,969 ordinary shares. |
| 02/26/2024 | Vesting of 3,081 time-based restricted stock units and withholding of 1,119 ordinary shares. |
| 02/27/2024 | Date of Form 4 signature. |
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