Form 4: Goodyear CFO Christina Zamarro Reports Stock Transactions

Christina Zamarro, EVP & Chief Financial Officer of Goodyear Tire & Rubber Co, reports the vesting and conversion of restricted stock units and the acquisition of performance share units.

Summary

• Christina Zamarro, the EVP & Chief Financial Officer of Goodyear Tire & Rubber Co, filed a Form 4 with the SEC.
• The filing reports transactions that occurred on February 26, 2024.
• These transactions include the vesting and conversion of 7,317 Restricted Stock Units (RSUs) from the 2017 Plan into common stock.
• Additionally, the filing reports the acquisition of 85,097 Performance Share Units under the 2022 Performance Plan, which are contingently payable in shares of common stock in February 2027 based on performance goals.
• The filing also reports the acquisition of 85,097 Restricted Stock Units under the 2022 Performance Plan, which will vest in increments over three years starting March 1, 2025.
• Shares of common stock were withheld by the issuer for the payment of withholding taxes.
• The reporting person also has 548 shares of common stock allocated to their account in a 401(k) plan.

Sentiment

Score: 5

Explanation: The sentiment is neutral as the document simply reports stock transactions by an executive, which is a routine occurrence.

Positives

• The acquisition of Performance Share Units and Restricted Stock Units suggests confidence in the company's future performance.

Future Outlook

The number of Performance Share Units paid out in February 2027 will depend on the attainment of certain performance goals over a 3-year period ending December 31, 2026, and is subject to increase or decrease of up to 20% based on the Company's total shareholder return vs. a peer group over the 3-year period ending December 31, 2026.

Industry Context

This filing is a routine disclosure of stock transactions by a company executive, which is common practice for publicly traded companies. It provides transparency into the executive's holdings and transactions in the company's stock.

Comparison to Industry Standards

• Form 4 filings are standard practice for executives at publicly traded companies like Goodyear, similar to filings made by executives at companies like Bridgestone and Michelin.
• The vesting schedules and performance-based compensation structures are also common in the industry, aligning executive incentives with company performance, similar to compensation plans at competitor tire manufacturers.

Stakeholder Impact

• The transactions reported in the Form 4 have a minimal direct impact on stakeholders.
• However, they provide transparency into the executive's alignment with shareholder interests through stock ownership.

Key Dates