Form 4: Gen Digital Director Nora Denzel Receives Equity Award

Director Nora Denzel received 10,038 shares of Gen Digital Inc. stock as an annual non-employee director equity award.

Summary

• On September 10, 2024, Nora Denzel, a director of Gen Digital Inc., acquired 10,038 shares of common stock.
• This acquisition was part of an annual non-employee director equity award.
• The shares were acquired at a price of $0.
• Following the transaction, Denzel directly owns 66,506 shares of Gen Digital Inc.
• The RSUs will vest 100% on the earlier of September 10, 2025, or the next annual meeting, and subject to service through the respective vesting date.

Sentiment

Score: 7

Explanation: The document reflects a routine director equity award, which is generally viewed as a positive sign of aligning management interests with shareholders. There are no indications of negative sentiment.

Positives

• The equity award aligns the director's interests with those of the shareholders.

Future Outlook

The RSUs will vest 100% on the earlier of September 10, 2025, or the next annual meeting, and subject to service through the respective vesting date.

Industry Context

Director equity awards are a common practice to incentivize and align the interests of board members with the company's long-term performance.

Comparison to Industry Standards

• Director compensation packages, including equity awards, vary significantly across companies and industries.
• Benchmarking against peer companies in the technology sector would provide a better understanding of the size and structure of this equity award.
• Companies like NortonLifeLock (now part of Gen Digital) and other cybersecurity firms often use equity to attract and retain board members.

Stakeholder Impact

• The equity award aligns the director's interests with those of the shareholders, potentially leading to better corporate governance and decision-making.

Key Dates