Form 4: Ingevity Corp Executive Stuart Edward Woodcock Jr. Reports Stock Transactions
SEC Form 4 Filing
EVP and President of Performance Materials at Ingevity Corp, Stuart Edward Woodcock Jr., reports stock transactions including shares withheld for tax obligations and the grant of restricted stock units.
Summary
- On February 28, 2024, Stuart Edward Woodcock Jr., EVP and President of Performance Materials at Ingevity Corp, reported several transactions involving the company's common stock.
- A total of 307 shares were withheld by the company to cover tax obligations related to the vesting of 2022 restricted stock units (RSUs) at a price of $45.27 per share.
- An additional 511 shares were withheld to cover tax obligations related to the vesting of 2023 RSUs, also at $45.27 per share.
- Woodcock was granted 6,296 RSUs and 2,905 RSUs under the Ingevity Corporation 2016 Omnibus Incentive Plan.
- These RSUs will vest in three equal installments on February 28 of 2025, 2026, and 2027.
Sentiment
Score: 6
Explanation: The sentiment is neutral as the filing primarily reports routine stock transactions related to executive compensation and tax obligations.
Positives
- The grant of 6,296 and 2,905 RSUs to Woodcock indicates continued investment in the company's leadership.
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 standard compensation practices through the use of RSUs.
Stakeholder Impact
- The transactions have a minor impact on shareholders as they reflect standard executive compensation practices.
Key Dates
| Date | Description |
|---|---|
| 02/28/2024 | Date of stock transactions, including shares withheld for taxes and RSU grants. |
| 02/28/2025 | First vesting date for the granted RSUs. |
| 02/28/2026 | Second vesting date for the granted RSUs. |
| 02/28/2027 | Third vesting date for the granted RSUs. |
| 03/01/2024 | Date of signature for the Form 4 filing. |
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