Form 4: Inspired Entertainment CEO Brooks Pierce Executes Stock Transactions Following RSU Vesting
SEC Form 4 Filing
Brooks H. Pierce, President and CEO of Inspired Entertainment, Inc., reports transactions involving common stock and restricted stock units, including acquisitions, disposals, and vesting, as per a Form 4 filing.
Summary
- On February 29, 2024, Brooks H. Pierce, the President and CEO of Inspired Entertainment, Inc., engaged in transactions involving the company's common stock and restricted stock units (RSUs).
- Pierce acquired 85,208 shares of common stock through the conversion of RSUs.
- He also disposed of 26,769 shares to cover tax withholding obligations related to the RSU settlements at a price of $9.57 per share.
- Following these transactions, Pierce directly owns 204,947 shares of common stock and indirectly owns 65,294 shares through a grantor retained annuity trust (GRAT).
- The RSUs converted were granted on various dates between February 2020 and February 2023, with vesting schedules spanning from December 2021 to December 2025.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing stock transactions, with no inherent positive or negative sentiment.
Industry Context
Form 4 filings are standard practice for company insiders to report transactions in their company's stock, providing transparency to the market.
Stakeholder Impact
- The transactions may have a minor impact on shareholders due to the increase in outstanding shares from RSU conversions and the subsequent sale of shares for tax purposes.
Key Dates
| Date | Description |
|---|---|
| February 17, 2020 | Grant date of restricted stock units, three-quarters of which vested on December 30, 2022, and the balance on December 29, 2023. |
| June 9, 2021 | Grant date of restricted stock units, one-third of which vested on each of December 31, 2021, December 30, 2022, and December 29, 2023. |
| June 9, 2021 | Grant date of performance restricted stock units, vesting in one installment on December 29, 2023. |
| July 2023 | 25,096 shares transferred to the reporting person as an annuity payment from his grantor retained annuity trust (GRAT). |
| February 14, 2022 | Grant date of restricted stock units, one-third of which vested on each of December 30, 2022, and December 29, 2023, and the balance is scheduled to vest on December 31, 2024. |
| February 14, 2023 | Grant date of restricted stock units, one-third of which vested on December 29, 2023, and the balance is scheduled to vest in two equal installments on December 31, 2024, and December 31, 2025. |
| February 29, 2024 | Date of transactions involving common stock and restricted stock units. |
| March 04, 2024 | Date of signature by Attorney-in-Fact. |
| December 31, 2024 | Future vesting date for remaining restricted stock units granted on February 14, 2022 and February 14, 2023. |
| December 31, 2025 | Future vesting date for remaining restricted stock units granted on February 14, 2023. |
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