Form 4: Hasbro Executive Tarrant L. Sibley Reports Share Withholding for Tax Obligations
SEC Form 4 Filing
Tarrant L. Sibley, EVP, CLO and Corp Secretary of Hasbro, Inc., reports share withholding transactions to cover tax obligations related to vesting restricted stock units.
Summary
- On February 24, 2024, Tarrant L. Sibley, an executive at Hasbro, Inc., had 1,052 shares withheld to cover tax obligations related to the vesting of restricted stock units.
- These shares were withheld at a price of $50.11 per share.
- This withholding was related to the vesting of the first tranche (33 1/3%) of a restricted stock unit award of 9,861 shares granted on February 24, 2023.
- On February 25, 2024, an additional 349 shares were withheld at $50.11 per share for tax obligations.
- This second withholding was related to the vesting of the second tranche (33 1/3%) of a restricted stock unit award of 3,162 shares granted on February 25, 2022.
- Following these transactions, Sibley directly owns 47,113.97 shares of Hasbro common stock.
Sentiment
Score: 5
Explanation: This is a neutral filing related to standard executive compensation practices. It doesn't indicate any positive or negative sentiment regarding the company's performance or future prospects.
Industry Context
This is a routine Form 4 filing, reflecting standard executive compensation practices involving restricted stock units and share withholding for tax purposes. It's common for executives to receive stock-based compensation, and the subsequent tax obligations often lead to share withholding transactions.
Comparison to Industry Standards
- Share withholding for tax obligations upon vesting of restricted stock units is a standard practice across publicly traded companies.
- Companies like Mattel and Jakks Pacific also utilize stock-based compensation for their executives, and similar Form 4 filings would be expected when those shares vest.
- The specific number of shares withheld and the vesting schedules vary based on individual compensation agreements and company performance.
Key Dates
| Date | Description |
|---|---|
| February 25, 2022 | Date of grant for a restricted stock unit award of 3,162 shares, the second tranche of which vested on February 25, 2024. |
| February 24, 2023 | Date of grant for a restricted stock unit award of 9,861 shares, the first tranche of which vested on February 24, 2024. |
| February 24, 2024 | Date of share withholding for tax obligations related to vesting restricted stock units. |
| February 25, 2024 | Date of additional share withholding for tax obligations related to vesting restricted stock units. |
| February 27, 2024 | Date of the Form 4 filing. |
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