Form 4: Gentherm Executive Nicholas Breisacher Reports Stock Transactions Following PSU Vesting
SEC Form 4
Nicholas Breisacher, Chief Accounting Officer of Gentherm Inc, reports acquisition and disposal of common stock following the vesting of performance-based restricted stock units (PSUs).
Summary
- This document is a Form 4 filing, reporting changes in beneficial ownership for Nicholas Breisacher, Chief Accounting Officer of Gentherm Inc.
- The report details transactions related to performance-based restricted stock units (PSUs) granted on March 11, 2022, under the 2013 Equity Incentive Plan.
- A portion of these PSUs were based on the Issuer's return on invested capital (ROIC) measured in 2024.
- The vesting period lapsed on March 11, 2025, and on March 21, 2025, the Compensation and Talent Committee determined that the ROIC PSUs were earned at 85% of the target performance level, resulting in a 34% payout of the PSUs granted.
- Breisacher acquired 122 shares of common stock on March 21, 2025, at $0 per share related to the PSU vesting.
- He also disposed of 40 shares on the same date at a price of $30.37 per share.
- Following these transactions, Breisacher beneficially owns 4,261 shares of Gentherm Inc. common stock.
Sentiment
Score: 6
Explanation: The document is a routine regulatory filing related to executive compensation. The sentiment is neutral as it simply reports transactions related to previously granted equity.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the trading activities of company insiders. This filing indicates the vesting of previously granted performance-based equity, which is a common practice to align executive compensation with company performance.
Comparison to Industry Standards
- Performance-based equity compensation is a common practice among publicly traded companies to incentivize executives and align their interests with those of shareholders.
- The specific metrics used, such as ROIC, and the payout percentages vary depending on the company and industry.
- Comparing Gentherm's ROIC performance and PSU payout structure to those of its peers in the automotive and thermal management industries would provide a more comprehensive assessment of its compensation practices.
Stakeholder Impact
- The vesting of PSUs and subsequent stock transactions can have a minor impact on shareholders by slightly diluting equity.
- The filing provides transparency to shareholders regarding executive compensation and alignment with company performance.
Key Dates
| Date | Description |
|---|---|
| 03/11/2022 | Reporting Person was granted performance-based restricted stock units (PSUs) under the 2013 Equity Incentive Plan |
| 03/11/2025 | Vesting period lapsed for the performance-based restricted stock units (PSUs) |
| 03/21/2025 | Compensation and Talent Committee determined that the ROIC PSUs were earned at 85% of the target performance level, resulting in a 34% payout of the PSUs granted. Reporting person acquired 122 shares and disposed of 40 shares. |
| 03/25/2025 | Date of signature for the Form 4 filing. |
Keywords
Form 4, Beneficial Ownership, Gentherm, Nicholas Breisacher, PSU, ROIC, Stock Transaction, Vesting
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