Form 4: Inspired Entertainment EVP Carys Damon Acquires Performance-Based Restricted Stock Units

Carys Damon, EVP & General Counsel of Inspired Entertainment, Inc., reports the acquisition of 5,906 performance-based restricted stock units that will vest on December 31, 2025.

Summary

• Carys Damon, EVP & General Counsel of Inspired Entertainment, Inc., filed a Form 4 on April 17, 2024, reporting a transaction involving performance restricted stock units.
• On April 15, 2024, Damon acquired 5,906 performance restricted stock units, which convert into common stock on a one-for-one basis.
• These units were granted on February 14, 2023, and were contingent on achieving pre-established performance criteria for 2023.
• The Issuer's compensation committee determined that the performance condition was met for 5,906 units, representing 46.63% of the target award.
• The units are subject to a time-based vesting schedule, vesting in one installment on December 31, 2025.
• Following the transaction, Damon directly owns 5,906 shares of common stock.

Sentiment

Score: 6

Explanation: Neutral sentiment as it's a routine disclosure of executive compensation. The fact that some performance criteria were met is mildly positive.

Positives

• The vesting of performance restricted stock units suggests that the company achieved some of its performance goals for 2023.
• The acquisition of these units by an executive demonstrates confidence in the company's future performance.

Future Outlook

The document does not contain specific forward-looking statements, but the vesting of performance-based units suggests an expectation of continued performance.

Industry Context

Executive compensation through stock and performance-based units is a common practice in the entertainment and technology industries to align management's interests with those of shareholders.

Comparison to Industry Standards

• Companies like Scientific Games Corporation (now Light & Wonder) and International Game Technology (IGT) also utilize performance-based equity compensation for their executives.
• The specific performance metrics and vesting schedules vary depending on the company's goals and industry benchmarks.
• The percentage of target award achieved (46.63% in this case) would be compared to similar metrics in peer companies' executive compensation disclosures to assess relative performance.

Stakeholder Impact

• The vesting of performance-based units can positively impact shareholders by aligning management's interests with company performance.
• Employees may be indirectly impacted as the achievement of performance goals can contribute to overall company success.

Key Dates