Form 4: Hillenbrand Executive Soni Receives Stock Awards
Executive Compensation Disclosure
Hillenbrand's Senior VP and Chief Information Officer, Bhavik N. Soni, was granted restricted stock units as part of deferred stock awards.
Summary
- Bhavik N. Soni, Senior VP & Chief Information Officer at Hillenbrand, Inc., received restricted stock units as part of deferred stock awards.
- On December 7, 2024, Soni received 1,530 restricted stock units related to a 2022 award, 673 units related to a 2023 award, and 857 units related to a 2024 award.
- Each restricted stock unit represents the right to receive one share of Hillenbrand's common stock.
- The restricted stock units also accrue dividend equivalent rights on dividend record dates.
- The 2022 award vests in three equal parts on December 7, 2023, December 7, 2024, and December 7, 2025.
- The 2023 award vests in three equal parts on December 7, 2024, December 7, 2025, and December 7, 2026.
Sentiment
Score: 7
Explanation: The document reflects a standard executive compensation practice, which is generally viewed positively for aligning management and shareholder interests. There are no negative implications.
Positives
- The granting of restricted stock units aligns the executive's interests with those of the shareholders.
- The vesting schedule encourages long-term performance and retention of the executive.
- Dividend equivalent rights provide additional value to the executive.
Industry Context
Stock-based compensation is a common practice for publicly traded companies to incentivize and retain key executives.
Comparison to Industry Standards
- Many companies in the industrial sector use restricted stock units as part of their executive compensation packages.
- The vesting schedule of one-third per year is a fairly standard approach to ensure long-term alignment of interests.
- Companies like Dover Corporation and Illinois Tool Works also use similar stock-based compensation plans for their executives.
Stakeholder Impact
- Shareholders may view this as a positive sign of aligning executive interests with company performance.
- Employees may see this as a standard practice for executive compensation.
Key Dates
| Date | Description |
|---|---|
| 2022-12-07 | Date of the initial restricted stock unit award that vests over three years. |
| 2023-12-07 | Date of the initial restricted stock unit award that vests over three years and the first vesting date of the 2022 award. |
| 2024-12-07 | Date of the restricted stock unit award and the second vesting date of the 2022 award and the first vesting date of the 2023 award. |
| 2024-12-10 | Date the document was signed by the Attorney-in-Fact. |
| 2025-12-07 | Third vesting date of the 2022 award and the second vesting date of the 2023 award. |
| 2026-12-07 | Third vesting date of the 2023 award. |
Keywords
restricted stock units, stock awards, executive compensation, deferred stock, Hillenbrand, Bhavik N. Soni
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.