Form 4: Hillenbrand Director Stuart A. Taylor II Reports Acquisition of Restricted Stock Units
SEC Form 4 Filing
Director Stuart A. Taylor II reports the acquisition of restricted stock units in Hillenbrand, Inc. on June 28, 2024, through deferred stock awards and director fees.
Summary
- On June 28, 2024, Stuart A. Taylor II, a director of Hillenbrand, Inc., reported the acquisition of restricted stock units (RSUs) through deferred stock awards and director fees.
- The RSUs were acquired under various deferred stock award plans dating from February 2009 to February 2024.
- A total of 55 RSUs were acquired as deferred director fees.
- The director now beneficially owns varying amounts of RSUs under each plan, ranging from 2,742 to 7,251 units.
- These RSUs represent the contingent right to receive one share of Hillenbrand's common stock each.
- Dividend equivalent rights accrue on these RSUs on dividend record dates.
- Vesting conditions vary, with some RSUs vesting immediately upon grant, while others vest upon the earlier of the next annual meeting or one year from the grant date, subject to certain conditions like a change in control or the director's departure.
Sentiment
Score: 6
Explanation: The sentiment is neutral as it reports a routine transaction. The acquisition of RSUs by a director is generally viewed positively, but the document itself is simply a factual report.
Positives
- The acquisition of RSUs by a director signals confidence in the company's future performance.
- The deferred stock award plans incentivize long-term commitment from the director.
- Dividend equivalent rights on the RSUs provide additional value to the director.
Industry Context
Director ownership and equity-based compensation are common practices in publicly traded companies to align management's interests with those of shareholders.
Comparison to Industry Standards
- Equity compensation for directors is a standard practice across industries.
- Companies like Dover Corporation and Stanley Black & Decker also utilize restricted stock units as part of their director compensation packages.
- The vesting schedules and holding requirements for these RSUs are generally in line with industry norms, aiming to incentivize long-term value creation.
Stakeholder Impact
- The acquisition of RSUs by a director can positively influence shareholder sentiment by aligning management's interests with theirs.
- Employees may view this as a positive sign of the company's commitment to its leadership.
Key Dates
| Date | Description |
|---|---|
| 02/11/2009 | Date of Deferred Stock Award 2/11/09 |
| 02/24/2010 | Date of Deferred Stock Award 2/24/10 |
| 02/23/2011 | Date of Deferred Stock Award 2/23/11 |
| 02/22/2012 | Date of Deferred Stock Award 2/22/12 |
| 02/27/2013 | Date of Deferred Stock Award 2/27/13 |
| 02/26/2014 | Date of Deferred Stock Award 2/26/14 |
| 05/2014 | Date of change in vesting rules for awards granted in May 2014 or later |
| 02/25/2015 | Date of Deferred Stock Award 2/25/15 |
| 02/24/2016 | Date of Deferred Stock Award 2/24/16 |
| 02/22/2017 | Date of Deferred Stock Award 2/22/17 |
| 02/15/2018 | Date of Deferred Stock Award 2/15/18 |
| 02/14/2019 | Date of Deferred Stock Award 2/14/19 |
| 02/13/2020 | Date of Deferred Stock Award 2/13/20 |
| 02/11/2021 | Date of Deferred Stock Award 2/11/21 |
| 02/10/2022 | Date of Deferred Stock Award 2/10/22 |
| 02/24/2023 | Date of Deferred Stock Award 2/24/23 |
| 02/20/2024 | Date of Deferred Stock Award 2/20/2024 |
| 06/28/2024 | Date of transaction: Acquisition of Restricted Stock Units |
| 07/02/2024 | Date of report 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.