Form 4: Hillenbrand Director Joy M. Greenway Reports Acquisition of Restricted Stock Units
SEC Form 4
Director Joy M. Greenway reports the acquisition of restricted stock units in Hillenbrand, Inc. on September 30, 2024.
Summary
- On September 30, 2024, Joy M. Greenway, a director of Hillenbrand, Inc., acquired restricted stock units.
- These units are related to deferred stock awards from 2013 to 2024.
- The acquisitions did not involve a purchase price, as the price per derivative security is reported as $0.
- The restricted stock units vest immediately upon grant for awards granted prior to May 2014, directors must hold the underlying shares of common stock of the Company for six months after they cease serving as a director, and for awards granted in May 2014 or later, directors must hold the underlying shares of common stock of the Company for one day after the director ceases serving.
- For awards granted in May 2014 or later, directors must hold the underlying shares of common stock of the Company for one day after the director ceases serving.
- For awards granted from 2021 to 2024, the Restricted Stock Units vest on the earlier to occur of the issuer's next annual meeting of shareholders or one year from the date of grant.
- The reporting person directly owns all the derivative securities.
Sentiment
Score: 7
Explanation: The sentiment is neutral to slightly positive. The acquisition of restricted stock units by a director is generally seen as a positive sign, indicating confidence in the company's future. However, it's a routine transaction and doesn't necessarily indicate a major shift in the company's prospects.
Positives
- The acquisition of restricted stock units by a director signals confidence in the company's future performance.
- The structure of the restricted stock units encourages long-term commitment from the director, as the underlying shares must be held for a period of time after ceasing to be a director.
Industry Context
This filing is a routine disclosure related to executive compensation and is typical for publicly traded companies. It provides transparency into the equity holdings of company directors.
Comparison to Industry Standards
- Equity compensation is a common practice among publicly traded companies to align the interests of directors and shareholders.
- The vesting schedules and holding periods described in the document are typical for restricted stock unit grants.
- Companies like Dover Corporation, Fortive Corporation, and Roper Technologies also utilize similar equity compensation plans for their executives and directors.
Stakeholder Impact
- The acquisition of restricted stock units by a director aligns their interests with those of shareholders, potentially encouraging decisions that benefit the company's long-term value.
- Employees may view this as a positive sign, indicating the company's commitment to its leadership.
Key Dates
| Date | Description |
|---|---|
| 2013-02-27 | Date of Deferred Stock Award 2/27/13 |
| 2014-02-26 | Date of Deferred Stock Award 2/26/14 |
| 2015-02-25 | Date of Deferred Stock Award 2/25/15 |
| 2016-02-24 | Date of Deferred Stock Award 2/24/16 |
| 2017-02-22 | Date of Deferred Stock Award 2/22/17 |
| 2018-02-15 | Date of Deferred Stock Award 2/15/18 |
| 2019-02-14 | Date of Deferred Stock Award 2/14/19 |
| 2020-02-13 | Date of Deferred Stock Award 2/13/20 |
| 2021-02-11 | Date of Deferred Stock Award 2/11/21 |
| 2022-02-10 | Date of Deferred Stock Award 2/10/22 |
| 2023-02-24 | Date of Deferred Stock Award 2/24/23 |
| 2024-02-20 | Date of Deferred Stock Award 2/20/2024 |
| 2024-09-30 | Date of Transaction |
| 2024-10-02 | Date of Report |
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