Form 4: Huntington Ingalls Industries Officer Acquires Dividend Equivalent Rights on Restricted Stock
SEC Form 4 Filing
Jennifer R. Boykin, an officer at Huntington Ingalls Industries, acquired dividend equivalent rights on restricted stock on September 13, 2024.
Summary
- On September 13, 2024, Jennifer R. Boykin, Ex VP, President NNS of Huntington Ingalls Industries, Inc. [HII], acquired 5.977 dividend equivalent rights on restricted stock.
- These rights are associated with restricted stock rights (RSRs) granted under the 2022 Long-Term Incentive Stock Plan on February 26, 2024, which vest ratably over three years.
- The acquisition represents dividend equivalent rights on the RSRs, credited following the company's quarterly cash dividend.
- Boykin directly owns 1,208.497 shares of common stock following the transaction.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing related to insider transactions, indicating a neutral sentiment.
Future Outlook
The RSRs vest ratably in three equal installments upon each of the first, second and third anniversaries of the grant date.
Industry Context
This filing is a routine disclosure of insider transactions, which are common in publicly traded companies. It provides transparency into the actions of company officers and their holdings of company stock.
Stakeholder Impact
- The transaction provides transparency to shareholders regarding the compensation and stock ownership of company executives.
Key Dates
| Date | Description |
|---|---|
| 2024-02-26 | Date of grant for Restricted Stock Rights (RSRs) under the 2022 Long-Term Incentive Stock Plan (LTISP). |
| 2024-08-22 | Date of Power of Attorney execution. |
| 2024-09-13 | Date of transaction: Acquisition of dividend equivalent rights on restricted stock. |
| 2024-09-16 | Date of Form 4 filing. |
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