Form 4: Hewlett Packard Enterprise SVP, Controller & CTO Jeremy Cox Reports Changes in Beneficial Ownership
SEC Form 4
Jeremy Cox, SVP, Controller & CTO of Hewlett Packard Enterprise, reports the vesting and disposal of restricted stock units and associated dividend equivalent rights.
Summary
- On April 20, 2024, Jeremy Cox, SVP, Controller & CTO of Hewlett Packard Enterprise, reported changes in beneficial ownership.
- These changes involve the vesting of 25,748 restricted stock units (RSUs) at a price of $16.79.
- Cox also disposed of 6,258 shares to cover tax obligations at $16.79.
- Following these transactions, Cox directly owns 33,864 shares of Hewlett Packard Enterprise common stock.
- The report also details the accumulation of dividend equivalent rights on previously granted RSUs.
Sentiment
Score: 5
Explanation: This Form 4 filing is a routine disclosure of executive compensation activities and does not inherently indicate positive or negative sentiment. It's a neutral reporting of transactions.
Future Outlook
Future vesting dates for the remaining restricted stock units are detailed in the report, indicating continued equity-based compensation for the reporting person.
Industry Context
Executive compensation through stock options and restricted stock units is a common practice in the tech industry to align management's interests with those of shareholders.
Comparison to Industry Standards
- Companies like IBM, Dell, and Oracle also utilize RSUs as part of their executive compensation packages.
- The vesting schedules and amounts granted to executives are typically benchmarked against peer companies to ensure competitiveness.
- The specific details of these arrangements vary based on company size, performance, and individual contributions.
Stakeholder Impact
- The vesting of RSUs and subsequent sale of shares can have a minor dilutive effect on existing shareholders.
- However, it also incentivizes the executive to perform well, which can benefit shareholders in the long run.
Key Dates
| Date | Description |
|---|---|
| 12/09/2021 | Reporting person was granted 45,514 restricted stock units |
| 04/20/2022 | Reporting person was granted 72,639 restricted stock units |
| 12/08/2022 | Reporting person was granted 61,387 restricted stock units |
| 12/07/2023 | Reporting person was granted 217,122 restricted stock units |
| 01/11/2024 | Dividend equivalent rights credited to the reporting person's account. |
| 04/12/2024 | Dividend equivalent rights credited to the reporting person's account. |
| 04/20/2024 | Vesting of 25,748 restricted stock units. |
| 04/23/2024 | Date of the report. |
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