Form 4: Henry Schein EVP Michael Ettinger Reports Acquisition of Restricted Stock Units

Michael Ettinger, EVP & Chief Operating Officer of Henry Schein Inc., reports the acquisition of restricted stock units and adjustments to holdings in the company's 401(k) plan.

Summary

• On March 10, 2025, Michael S. Ettinger, EVP & Chief Operating Officer of Henry Schein Inc., reported changes in beneficial ownership.
• Ettinger acquired 26,507 shares of common stock through the grant of restricted stock units (RSUs) under the company's 2024 Stock Incentive Plan.
• These RSUs vest in two tranches: 50% based on the company's achievement of specified performance goals and the reporting person's continued service, and 50% based on the passage of time and continued service.
• The report also reflects Ettinger's interest in 210 equivalent shares of Henry Schein common stock held by the unitized stock fund in the Henry Schein, Inc. 401(k) Savings Plan.
• Following these transactions, Ettinger directly owns 109,538 shares of Henry Schein common stock and indirectly owns 210 shares through the 401(k) plan.

Sentiment

Score: 6

Explanation: The document is a standard regulatory filing detailing stock transactions by an executive. It doesn't inherently convey positive or negative sentiment, but the granting of RSUs can be seen as a positive sign of aligning executive interests with company performance.

Positives

• The grant of RSUs aligns executive compensation with company performance and long-term value creation.
• The vesting structure encourages continued service and achievement of performance goals.

Risks

• The value of the RSUs is subject to the performance of Henry Schein's stock.
• Failure to meet performance goals could result in the forfeiture of a portion of the performance-based RSUs.

Future Outlook

The vesting of the RSUs is contingent upon future performance and continued service, suggesting an ongoing commitment from the executive.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. The acquisition of RSUs is a common form of executive compensation in publicly traded companies.

Comparison to Industry Standards

• Executive compensation packages often include a mix of salary, bonus, and equity-based awards like RSUs.
• The vesting schedules for RSUs typically range from 3 to 5 years, with performance-based components becoming increasingly common.
• Companies like Patterson Companies and McKesson Corporation, which operate in similar industries, also utilize equity-based compensation to align executive interests with shareholder value.

Stakeholder Impact

• Shareholders may view the RSU grant as a positive incentive for the executive to drive company performance.
• Employees may see the RSU grant as a sign of confidence in the company's future.

Key Dates