Form 4: IAC Inc. Director Alan Spoon Reports Stock Vesting
SEC Form 4 Filing
Director Alan Spoon reports the vesting of restricted stock units and subsequent acquisition of IAC Inc. common stock.
Summary
- On May 14, 2024, Alan Spoon, a director of IAC Inc., reported the vesting of 549 restricted stock units.
- These units converted into 549 shares of IAC common stock.
- Following the transaction, Spoon directly owns 235,127 shares of IAC common stock, which includes 99,323 shares held directly and 135,804 share units accrued under IAC's Non-Employee Director Deferred Compensation Plans.
- Spoon also indirectly owns 15,000 shares through a Family LLC, but disclaims beneficial ownership except to the extent of his pecuniary interest.
- The restricted stock units vested in equal installments on May 14, 2022, 2023, and 2024, subject to continued service.
Sentiment
Score: 5
Explanation: Neutral sentiment as it reflects a routine transaction related to executive compensation.
Positives
- The vesting of restricted stock units indicates continued service and commitment by the director.
Industry Context
Form 4 filings are routine disclosures required by the SEC to ensure transparency in insider trading activities. This filing indicates a director's acquisition of shares through previously granted compensation.
Stakeholder Impact
- The transaction has a minimal direct impact on stakeholders as it is a routine vesting of previously granted compensation.
Key Dates
| Date | Description |
|---|---|
| 05/14/2022 | First vesting date of restricted stock units. |
| 05/14/2023 | Second vesting date of restricted stock units. |
| 05/14/2024 | Date of transaction: Vesting of remaining restricted stock units and acquisition of common stock. |
| 05/15/2024 | Date of Form 4 filing. |
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