Form 4: HPE Director Jean M. Hobby Reports Stock Award Vesting and Deferral
SEC Form 4
Director Jean M. Hobby reports the vesting of restricted stock units and deferral of common stock receipt until termination of service on Hewlett Packard Enterprise's Board of Directors.
Summary
- Jean M. Hobby, a director of Hewlett Packard Enterprise (HPE), reported the vesting of 17,010 restricted stock units (RSUs) on April 10, 2024.
- These RSUs cliff vested on the date of HPE's 2024 Annual Stockholders Meeting.
- Hobby elected to defer the receipt of the underlying common stock until her service as a board member ends.
- The report also includes dividend equivalent rights that accrued on these RSUs.
- The reporting person directly owns 61,279 shares of HPE common stock.
- The reporting person indirectly owns 17,389.9376 shares of HPE common stock through Merrill Lynch.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing related to stock compensation, indicating a neutral sentiment.
Future Outlook
The director has elected to defer the receipt of common stock until the termination of her service as a member of the Issuer's Board of Directors.
Industry Context
This filing is a routine disclosure of stock-based compensation for a company director, common in publicly traded companies to align management interests with shareholder value.
Stakeholder Impact
- The vesting of RSUs and subsequent deferral of shares has a minor impact on shareholders as it reflects the director's continued alignment with the company's long-term performance.
Key Dates
| Date | Description |
|---|---|
| 05/05/2023 | Reporting person was granted 17,010 restricted stock units ('RSUs'). |
| 07/14/2023 | 120.9959 dividend equivalent rights at $16.87 per RSU credited to the reporting person's account. |
| 10/13/2023 | 123.8592 dividend equivalent rights at $16.48 per RSU credited to the reporting person's account. |
| 01/11/2024 | 135.0825 dividend equivalent rights at $16.37 per RSU credited to the reporting person's account. |
| 04/10/2024 | Date of Issuer's 2024 Annual Stockholders Meeting and vesting date of 17,010 restricted stock units. |
| 04/12/2024 | Date of Form 4 filing. |
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