Form 4: Hillenbrand Director Greenway Receives Stock Units

Director Joy M. Greenway receives restricted stock units from Hillenbrand, Inc. on June 28, 2024.

Summary

• On June 28, 2024, Joy M. Greenway, a director of Hillenbrand, Inc., acquired restricted stock units (RSUs) under various deferred stock award plans.
• These RSUs represent the contingent right to receive one share of Hillenbrand's common stock.
• The RSUs were granted under plans dating from 2013 to 2024.
• A total of 209 RSUs were acquired, with the number of units varying by grant date.
• The price of each derivative security is $0.
• Following these transactions, Greenway directly owns between 2,742 and 4,497 RSUs for each grant year, totaling 37,553 RSUs.
• RSUs granted prior to May 2014 require the director to hold the underlying shares for six months after ceasing to be a director, while those granted in May 2014 or later require holding for one day after.
• RSUs granted from 2021-2024 vest on the earlier of the next annual meeting or one year from the grant date, but delivery is contingent on a change in control, death, disability, or one day after ceasing to be a director.

Sentiment

Score: 7

Explanation: The sentiment is neutral to positive. The granting of stock units to a director is a routine event and generally viewed favorably as it aligns interests with shareholders.

Positives

• The grant of RSUs aligns the director's interests with those of the shareholders.
• The vesting conditions encourage long-term commitment from the director.
• The dividend equivalent rights on the RSUs provide additional value to the director.

Future Outlook

The document does not contain any specific forward-looking statements regarding the company's future performance.

Industry Context

Granting stock-based compensation is a common practice in publicly traded companies to align the interests of directors and management with those of shareholders. This encourages long-term value creation.

Comparison to Industry Standards

• Stock grants to board members are a common practice among publicly traded companies.
• Companies like Caterpillar, Deere, and 3M also use stock-based compensation for their directors.
• The vesting schedules and holding requirements are generally in line with industry standards to ensure long-term commitment.

Stakeholder Impact

• The granting of RSUs to a director can positively impact shareholders by aligning the director's interests with the company's long-term success.
• Employees may view this as a positive sign of the company's commitment to its leadership.

Key Dates