Form 4: Goodyear Director Michael Wessel Acquires Restricted Stock Units

Goodyear Tire & Rubber Co director Michael Wessel acquired 12,186 restricted stock units (RSUs) on April 8, 2024, under the company's Outside Directors' Equity Participation Plan.

Summary

• On April 8, 2024, Michael Wessel, 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, as amended.
• 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, Wessel beneficially owns 159,677 RSUs.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction (RSU grant) which is generally viewed neutrally to positively as it aligns director interests with shareholders. There are no indications of negative sentiment.

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 stock ownership is a common practice in publicly traded companies to align management's interests with those of shareholders. RSU grants are a typical component of executive compensation packages.

Comparison to Industry Standards

• RSU grants to directors are a standard practice across publicly traded companies, including Goodyear's competitors like Michelin and Bridgestone.
• The vesting schedule of RSUs, tied to board service, is also a common feature in director compensation plans.

Stakeholder Impact

• The RSU grant aligns the director's interests with those of shareholders, potentially encouraging decisions that benefit the company's long-term value.

Key Dates