Form 4: Hillenbrand Inc. Executive Tamara Morytko Reports Acquisition of Restricted Stock Units
SEC Form 4 Filing
Tamara Morytko, a Senior VP & President at Hillenbrand, Inc., reported the acquisition of restricted stock units on March 29, 2024.
Summary
- On March 29, 2024, Tamara Morytko, a Senior VP & President at Hillenbrand, Inc., acquired restricted stock units.
- These restricted stock units are part of deferred stock awards from September 11, 2023, and December 7, 2023.
- 71 restricted stock units are from the September award, vesting in installments until September 11, 2026.
- 29 restricted stock units are from the December award, vesting in installments until December 7, 2026.
- Each restricted stock unit represents the right to receive one share of Hillenbrand's common stock.
- The reporting person directly owns 16,305 common stock units and 6,779 common stock units.
Sentiment
Score: 6
Explanation: The sentiment is neutral. It's a routine transaction related to executive compensation. The acquisition of stock units can be seen as a positive sign of confidence, but it's a standard practice.
Positives
- The acquisition of restricted stock units suggests confidence in the company's future performance.
Industry Context
Executive compensation through stock awards is a common practice in publicly traded companies to align management's interests with those of shareholders.
Comparison to Industry Standards
- Stock-based compensation is a standard practice across industries, particularly among publicly listed companies like Hillenbrand, to incentivize executives and align their interests with shareholder value.
- Companies such as Illinois Tool Works (ITW) and Dover Corporation (DOV), which operate in similar industrial sectors, also utilize restricted stock units as part of their executive compensation packages.
- The vesting schedules and amounts of these awards are typically benchmarked against peer companies to ensure competitiveness and retention.
Stakeholder Impact
- The acquisition of restricted stock units aligns the executive's interests with those of the shareholders, potentially driving long-term value creation.
Key Dates
| Date | Description |
|---|---|
| 09/11/2023 | Date of deferred stock award for 71 restricted stock units. |
| 12/07/2023 | Date of deferred stock award for 29 restricted stock units. |
| 03/29/2024 | Date of transaction: Acquisition of restricted stock units. |
| 04/02/2024 | Date of Form 4 filing. |
| 09/11/2024 | First vesting date for 25% of the 71 restricted stock units from the 09/11/2023 award. |
| 12/07/2024 | First vesting date for one-third of the 29 restricted stock units from the 12/07/2023 award. |
| 09/11/2025 | Second vesting date for 25% of the 71 restricted stock units from the 09/11/2023 award. |
| 12/07/2025 | Second vesting date for one-third of the 29 restricted stock units from the 12/07/2023 award. |
| 09/11/2026 | Final vesting date for 50% of the 71 restricted stock units from the 09/11/2023 award. |
| 12/07/2026 | Final vesting date for one-third of the 29 restricted stock units from the 12/07/2023 award. |
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