Form 4: IDACORP VP Adelman Converts RSUs, Sells Shares

IDACORP VP of Power Supply, Ryan Adelman, converted restricted stock units into common stock and subsequently sold shares to cover tax obligations.

Summary

• Ryan Adelman, VP of Power Supply (IPC) at IDACORP INC (IDA), reported changes in his beneficial ownership of company common stock.
• On January 1, 2026, 549 restricted stock units (RSUs) vested and were converted into 549 shares of IDACORP common stock at a price of $0.00 per unit.
• Following this conversion, Adelman's direct beneficial ownership of common stock increased to 4,725 shares.
• On January 2, 2026, Adelman disposed of 275 shares of common stock at a price of $127.30 per share.
• This disposition was likely for the payment of tax liabilities associated with the RSU vesting.
• After both transactions, Adelman's direct beneficial ownership of common stock stands at 4,450 shares.
• All restricted stock units previously held by Adelman were fully vested and converted, resulting in zero derivative securities beneficially owned.

Sentiment

Score: 5

Explanation: The filing reports a routine insider transaction involving the vesting of restricted stock units and a subsequent sale of shares to cover tax obligations. This is a common occurrence and does not inherently signal a positive or negative shift in company fundamentals or executive confidence.

Positives

• The vesting of restricted stock units indicates the fulfillment of equity compensation plans for a key executive.
• The conversion of RSUs into common stock demonstrates the executive's continued equity stake in the company, even after a tax-related sale.

Negatives

• A portion of the newly acquired shares (275 out of 549) was sold, reducing the executive's overall direct beneficial ownership by 275 shares after the transactions.

Risks

• Insider selling, even for tax purposes, can sometimes be perceived negatively by the market, though this transaction appears routine and relatively small in scale.

Future Outlook

N/A

Industry Context

N/A

Stakeholder Impact

• Shareholders: The transaction represents a routine change in an executive's direct equity holdings, with a net decrease of 275 shares after the RSU conversion and tax-related sale. This is unlikely to have a significant impact on shareholder sentiment or company valuation.

Key Dates

Recommendation

The filing details a routine insider transaction involving the vesting of restricted stock units and a subsequent sale of shares to cover tax obligations. This type of transaction is common and does not typically indicate a change in the company's fundamental outlook or the insider's long-term confidence, thus a 'hold' recommendation is appropriate.

Keywords

IDACORP, IDA, Form 4, Insider Trading, Restricted Stock Units, RSU Conversion, Stock Sale, Executive Compensation, Ryan Adelman