Form 4: Herc Holdings Director Lorin Crenshaw Acquires Phantom Stock
SEC Form 4 Filing
Director Lorin Crenshaw acquired 834 units of phantom stock in Herc Holdings Inc. on May 16, 2024.
Summary
- On May 16, 2024, Lorin Crenshaw, a director of Herc Holdings Inc. [HRI], acquired 834 units of phantom stock.
- The phantom stock is the economic equivalent of one share of Herc Holdings' common stock.
- The value of the phantom stock will be distributed in shares of common stock after Crenshaw ceases to be a member of the Issuer's Board of Directors, provided that the event occurs on or after the date of the Issuer's 2025 annual meeting of stockholders (or, if earlier following a change of control).
- The transaction was reported on May 20, 2024.
Sentiment
Score: 5
Explanation: Neutral sentiment as it's a standard disclosure of executive compensation.
Future Outlook
The phantom stock will be converted to common stock upon the director's departure from the board, occurring on or after the 2025 annual meeting or earlier if there's a change of control.
Industry Context
Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to investors.
Key Dates
| Date | Description |
|---|---|
| 05/16/2024 | Date of transaction: Lorin Crenshaw acquired phantom stock. |
| 05/20/2024 | Date of Form 4 filing. |
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.