Form 4: Director Terence Jupp Acquires Shares in Innovex International Through Stock Award

Director Terence Jupp acquired 1,915 shares of Innovex International common stock as part of a restricted stock award in lieu of quarterly fees.

Summary

• Terence Jupp, a director at Innovex International, acquired 1,915 shares of common stock on November 18, 2024.
• The shares were granted as a restricted stock award under the company's 2017 Omnibus Incentive Plan.
• This award was in lieu of a portion of the quarterly fees for his service on the Board of Directors and its committees.
• No additional consideration was paid for the shares.
• The share price used to determine the number of shares was $14.68.
• The shares will fully vest on the first day of the second calendar year following issuance.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction of a director receiving a stock award, which is generally viewed positively as it aligns interests. There are no negative implications.

Positives

• The acquisition of shares by a director demonstrates alignment of interests with shareholders.
• The use of stock awards in lieu of fees can conserve company cash.

Industry Context

This type of stock award is a common practice for compensating board members and aligning their interests with the company's performance.

Comparison to Industry Standards

• Many companies use stock awards as part of their compensation packages for directors.
• The vesting schedule of the shares is typical for restricted stock awards, often vesting over a period of years.
• The use of a share price to determine the number of shares is a standard practice.

Stakeholder Impact

• The stock award aligns the director's interests with those of shareholders.
• The use of stock awards can be seen as a positive for shareholders as it conserves company cash.

Key Dates

Keywords

Innovex International, Director, Stock Award, Restricted Stock, Share Acquisition, Terence Jupp, Board of Directors, Omnibus Incentive Plan