Form 4: Goodyear Director John E. McGlade Acquires 12,186 Restricted Stock Units

Director John E. McGlade acquired 12,186 Restricted Stock Units (RSUs) of Goodyear Tire & Rubber Co. on April 8, 2024, under the company's Outside Directors' Equity Participation Plan.

Summary

• On April 8, 2024, John E. McGlade, a director of Goodyear Tire & Rubber Co., acquired 12,186 Restricted Stock Units (RSUs).
• The RSUs were awarded pursuant to the company's Outside Directors' Equity Participation Plan.
• Each RSU is equivalent to one share of Goodyear's common stock and is payable only in common stock.
• The RSUs were valued at $13.13 each, based on the closing market price on the transaction date.
• The RSUs will convert to common stock on the fifth business day of the calendar quarter following the director's separation from Board service.
• Following the transaction, McGlade holds a total of 116,397 RSUs.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction related to director compensation, indicating a stable and well-governed company. The sentiment is neutral to slightly positive.

Positives

• The acquisition of RSUs by a director signals confidence in the company's future performance.
• The equity participation plan aligns the interests of outside directors with those of shareholders.

Future Outlook

The RSUs will be converted to common stock on the fifth business day of the calendar quarter following the director's separation from Board service.

Industry Context

Director equity grants are a common practice in publicly traded companies to incentivize and align the interests of board members with shareholders. This grant is part of Goodyear's established plan for outside directors.

Comparison to Industry Standards

• Equity compensation for board members is a standard practice across the industry.
• Companies like Bridgestone and Michelin also utilize equity-based compensation for their directors.
• The specific amount and vesting schedule of RSUs can vary based on company size, performance, and industry benchmarks.

Stakeholder Impact

• The RSU grant aligns director interests with shareholder value.
• The plan is part of the overall compensation structure for the board.

Key Dates