Form 4: Genesco Inc. Senior VP Andrew Gray Acquires Restricted Stock Grant
SEC Form 4 Filing
Senior Vice President of Genesco Inc., Andrew Gray, received a grant of 47,451 shares of restricted stock on December 10, 2024, under the company's 2020 Equity Incentive Plan.
Summary
- Andrew Gray, a Senior Vice President at Genesco Inc., was granted 47,451 shares of restricted stock on December 10, 2024.
- The grant is part of the company's Second Amended and Restated 2020 Equity Incentive Plan.
- The shares are intended to be awarded through Fiscal 2028.
- The restricted stock will vest over a five-year period, with 1/9 vesting on April 4, 2026, 2/9 on April 4, 2027, 3/9 on April 4, 2028, 2/9 on April 4, 2029, and the final 1/9 on April 4, 2030.
Sentiment
Score: 7
Explanation: The document reflects a standard executive compensation practice, which is generally viewed positively as it aligns management interests with shareholders. There are no negative implications.
Positives
- The grant of restricted stock aligns the executive's interests with the long-term performance of the company.
- The vesting schedule encourages long-term commitment from the executive.
Future Outlook
The restricted stock grant is intended to be awarded through Fiscal 2028, with vesting occurring over a five-year period.
Industry Context
The granting of restricted stock is a common practice in corporate compensation to align executive interests with shareholder value and encourage long-term performance.
Comparison to Industry Standards
- Many publicly traded companies use restricted stock grants as part of their executive compensation packages.
- The vesting schedule of five years is a fairly standard practice to ensure long-term commitment.
- Companies like Nike, Adidas, and Under Armour also use similar equity incentive plans for their executives.
Stakeholder Impact
- Shareholders may view the grant positively as it incentivizes long-term performance from the executive.
- Employees may see this as a standard practice for executive compensation.
Key Dates
| Date | Description |
|---|---|
| 12/10/2024 | Date of the restricted stock grant to Andrew Gray. |
| 04/04/2026 | First vesting date for 1/9 of the restricted stock. |
| 04/04/2027 | Second vesting date for 2/9 of the restricted stock. |
| 04/04/2028 | Third vesting date for 3/9 of the restricted stock. |
| 04/04/2029 | Fourth vesting date for 2/9 of the restricted stock. |
| 04/04/2030 | Final vesting date for 1/9 of the restricted stock. |
Keywords
restricted stock, equity incentive plan, stock grant, executive compensation, Genesco Inc., insider trading, vesting schedule
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