4/A: Gen Digital Inc. Director Sherrese M. Smith Acquires Shares as Part of Retainer Fee

Director Sherrese M. Smith acquired 1,930 shares of Gen Digital Inc. common stock as part of an annual non-employee director retainer fee.

Summary

• On September 10, 2024, Sherrese M. Smith, a director of Gen Digital Inc., acquired 1,930 shares of common stock.
• The acquisition was part of an annual non-employee director retainer fee.
• The price per share was $25.90.
• The shares are in the form of Restricted Stock Units (RSUs) that will vest in four equal installments on December 1, 2024, March 1, 2025, June 1, 2025, and September 1, 2025, subject to continued service.
• This Form 4/A is an amendment to a previous filing (Form 4) made on September 12, 2024, which incorrectly reported the price as $0; the correct price is $25.90.
• Following the transaction, Smith directly owns 63,364 shares of Gen Digital Inc.

Sentiment

Score: 7

Explanation: The sentiment is neutral to positive. The director acquiring shares as part of their compensation package is generally a good sign, indicating alignment with shareholder interests. The correction of the price in the amended filing is a minor issue and doesn't significantly impact the overall sentiment.

Positives

• Director's acquisition of shares demonstrates confidence in the company.
• The vesting schedule of the RSUs incentivizes continued service and alignment with company goals.

Future Outlook

The RSUs will vest over the next year, incentivizing the director's continued service.

Industry Context

Director compensation in the form of stock and RSUs is a common practice in publicly traded companies to align the interests of directors with those of shareholders.

Related Party Transactions

• The issuance of stock to Sherrese M. Smith as part of her annual non-employee director retainer fee constitutes a related party transaction.

Stakeholder Impact

• Shareholders may view the director's stock acquisition positively, as it aligns her interests with theirs.
• The vesting schedule incentivizes the director to remain engaged and contribute to the company's success.

Key Dates