Form 4: Gentherm CFO Matteo Anversa Reports Acquisition and Disposal of Common Stock

EVP, CFO, and Treasurer of Gentherm Inc., Matteo Anversa, reports the acquisition of 1,015 shares of common stock and disposal of 291 shares to cover tax obligations.

Summary

• On March 22, 2024, Matteo Anversa, the EVP, CFO, and Treasurer of Gentherm Inc., reported transactions involving the company's common stock.
• Anversa acquired 1,015 shares of common stock at a price of $0.
• Concurrently, Anversa disposed of 291 shares at a price of $55.53 to satisfy tax obligations.
• Following these transactions, Anversa directly owns 47,472 shares of Gentherm Inc.
• The acquisition of 1,015 shares was related to performance-based restricted stock units (PSUs) granted on March 12, 2021, under the 2013 Equity Incentive Plan.
• The PSUs vested on March 22, 2024, after the Compensation and Talent Committee determined they were earned at the target performance level.

Sentiment

Score: 6

Explanation: The sentiment is neutral as the filing reflects routine transactions related to executive compensation and vesting of performance-based stock units.

Positives

• The vesting of PSUs indicates that Gentherm achieved its target performance level based on its three-year total shareholder return (TSR) relative to a peer group.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This filing indicates the CFO's transactions related to vested performance-based stock units.

Stakeholder Impact

• The vesting of PSUs and subsequent sale of shares to cover tax obligations is a common and expected practice for executive compensation.

Key Dates