Form 4: Hayward Holdings SVP Acquires Restricted Stock Units, Forfeits Shares for Tax Obligations

John Alec Collins, SVP and Chief Commercial Officer of Hayward Holdings, acquired restricted stock units and forfeited shares to cover tax obligations.

Summary

• On March 4, 2024, John Alec Collins, SVP and Chief Commercial Officer of Hayward Holdings, Inc., engaged in transactions involving the company's common stock.
• Collins forfeited 2,074 shares of common stock to satisfy tax withholding obligations at a price of $14.33 per share.
• He also acquired 31,780 restricted stock units under the company's 2021 Equity Plan.
• These restricted stock units represent the contingent right to receive one share of Hayward Holdings' common stock each.
• The restricted stock units vest in three equal installments on March 4, 2025, March 4, 2026, and March 4, 2027, contingent upon continuous service with the Issuer.

Sentiment

Score: 6

Explanation: The document reflects standard executive compensation practices. It's neutral in tone and doesn't indicate any significant positive or negative developments for the company.

Positives

• The grant of restricted stock units aligns the executive's interests with the long-term performance of the company.
• The vesting schedule encourages continued service and commitment from the executive.

Future Outlook

The restricted stock units vest over a three-year period, suggesting an expectation of continued service and contribution from the executive.

Industry Context

This type of equity compensation is common in publicly traded companies to incentivize executives and align their interests with shareholders.

Comparison to Industry Standards

• Granting restricted stock units is a standard practice among publicly listed companies like Hayward Holdings to incentivize executives.
• Comparable companies in the pool and spa equipment industry, such as Pentair and Pool Corporation, also utilize equity-based compensation plans.
• The vesting schedule of three years is also a typical timeframe for such grants, aligning with industry norms for executive retention and performance incentives.

Stakeholder Impact

• The grant of restricted stock units could potentially increase shareholder value if the executive's performance drives company growth.
• Employees may view the equity plan as a positive incentive for management.

Key Dates