Form 4: Goodyear Executive Gary VanderLind Reports Stock Transactions
SEC Form 4 Filing
Gary VanderLind, SR VP & Chief Human Resources Officer of Goodyear Tire & Rubber Co, reports the vesting of restricted stock units and acquisition of performance share units.
Summary
- Gary VanderLind, a Senior Vice President and Chief Human Resources Officer at Goodyear Tire & Rubber Co, filed a Form 4 with the SEC.
- The filing reports the vesting of 16,508 restricted stock units (RSUs) granted on February 26, 2021, which converted into common stock.
- 5,011 shares of common stock were withheld by the issuer for the payment of withholding taxes at a price of $11.81.
- VanderLind also acquired 33,022 performance share units (PSUs) and 33,022 restricted stock units (RSUs) under the 2022 Performance Plan.
- The PSUs are contingently payable in February 2027, with the number of units paid depending on the attainment of certain performance goals over a 3-year period ending December 31, 2026.
- The RSUs will vest in 33% increments over three years, starting on March 1, 2025.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing stock transactions by a company executive. It doesn't inherently convey positive or negative sentiment, but rather provides factual information.
Future Outlook
The performance share units are contingently payable in February 2027, with the actual number of units paid depending on the company's performance over the next three years.
Industry Context
This filing is a routine disclosure of insider transactions, which are common in publicly traded companies. It provides transparency into the trading activities of company executives.
Stakeholder Impact
- The vesting of stock options and units can have a minor dilutive effect on existing shareholders.
- Executive compensation is always of interest to shareholders.
Key Dates
| Date | Description |
|---|---|
| 10/7/19 | Date of Power of Attorney previously filed with the SEC. |
| 02/26/2021 | Date of grant for the Restricted Stock Units that vested on 02/26/2024. |
| 02/26/2024 | Date of transaction: vesting of RSUs, acquisition of PSUs and RSUs. |
| 02/28/2024 | Date of signature for the Form 4 filing. |
| 03/01/2025 | Commencement date for vesting of the 2022 Plan Restricted Stock Units. |
| 12/31/2026 | End date for the 3-year performance period for the 2022 Plan Performance Share Units. |
| 02/2027 | Date of contingent payment for the 2022 Plan Performance Share Units. |
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