Form 4: Goodyear Director Laurette Koellner Acquires Restricted Stock Units

Director Laurette Koellner received 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, Laurette Koellner, a director of Goodyear Tire & Rubber Co., acquired 12,186 Restricted Stock Units (RSUs).
• These RSUs were awarded under 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.
• As of the date of the statement, Koellner holds a total of 101,690 RSUs.

Sentiment

Score: 6

Explanation: The document reflects a routine transaction (granting of RSUs to a director), which is generally viewed neutrally. It indicates alignment of director interests with shareholders, which is a mild positive.

Positives

• The acquisition of RSUs by a director signals confidence in the company's future performance.
• The Outside Directors' Equity Participation Plan aligns the interests of 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 compensation through equity grants is a common practice in publicly traded companies to align the interests of management and shareholders. This Form 4 filing reflects standard reporting requirements for such transactions.

Comparison to Industry Standards

• Equity compensation for board members is a standard practice across the tire and rubber industry, as well as in broader manufacturing sectors.
• Companies like Michelin and Bridgestone also utilize equity-based compensation to align director interests with shareholder value.
• The specific amount and vesting schedules of RSUs can vary based on company size, performance, and industry benchmarks.

Stakeholder Impact

• The granting of RSUs to a director can positively impact shareholders by aligning the director's interests with the company's long-term success.
• This type of compensation can also motivate the director to make decisions that benefit the company and its stakeholders.

Key Dates