Form 4: Ingevity Corp Executive Stacy Cozad Reports Stock Transactions

EVP, Gen. Counsel & Secretary Stacy Cozad reports acquisition and disposal of Ingevity Corp stock related to RSU vesting and tax obligations.

Summary

• On February 28, 2024, Stacy Cozad, EVP, Gen. Counsel & Secretary of Ingevity Corp, reported transactions involving the company's common stock.
• A total of 234 shares were withheld to cover tax obligations related to the vesting of 2022 restricted stock units (RSUs) at a price of $45.27.
• An additional 393 shares were withheld to cover tax obligations related to the vesting of 2023 RSUs at a price of $45.27.
• Cozad was granted 6,853 RSUs that will vest in three equal installments on February 28, 2025, 2026, and 2027.
• Cozad was also granted 3,125 RSUs that will vest in three equal installments on February 28, 2025, 2026, and 2027.
• Following these transactions, Cozad directly owns 24,684 shares of Ingevity Corp common stock.

Sentiment

Score: 6

Explanation: The sentiment is neutral as the filing primarily reflects routine stock transactions related to executive compensation. The RSU grants are a positive sign of incentivization, but the tax withholdings are a standard occurrence.

Positives

• The grant of 6,853 and 3,125 RSUs to Stacy Cozad indicates continued investment in the company's leadership.
• The vesting schedule of the RSUs (February 28, 2025, 2026, and 2027) suggests a long-term commitment from the executive.

Future Outlook

The granted RSUs will vest in three equal installments on February 28, 2025, 2026, and 2027.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This filing indicates the executive's compensation structure and alignment with shareholder interests through equity ownership.

Stakeholder Impact

• The transactions provide transparency to shareholders regarding executive compensation and ownership.

Key Dates