Form 4: Integra LifeSciences Executive Sells Shares to Cover Option Exercise and Taxes

Robert T. Davis Jr., EVP & President, TT of Integra LifeSciences, sold shares to cover the exercise price and withholding taxes related to expiring stock options.

Summary

• Robert T. Davis Jr., an executive at Integra LifeSciences, executed transactions involving the company's common stock on March 6, 2024.
• Davis exercised 8,736 non-qualified stock options at a price of $32.585.
• Simultaneously, Davis sold 8,348 shares of common stock at a weighted average price of $36.5946, ranging from $36.57 to $36.65.
• The sale was a 'sell to cover' transaction to pay for the option exercise and associated taxes.
• Following these transactions, Davis directly owns 49,893 shares of Integra LifeSciences common stock.
• The stock options were granted on March 14, 2016, and vested in four equal installments on the anniversary of the grant date.

Sentiment

Score: 5

Explanation: The document reflects routine executive stock transactions, which are neither particularly positive nor negative from an investment perspective. It's a standard part of executive compensation.

Industry Context

Executive stock option exercises and subsequent sales are a common practice in publicly traded companies, often used as a form of compensation and incentive. The 'sell to cover' strategy is a standard method for executives to manage the tax implications of option exercises.

Comparison to Industry Standards

• Executive compensation packages, including stock options, are standard practice across the medical device industry.
• Companies like Medtronic, Stryker, and Johnson & Johnson also utilize stock options as part of their executive compensation plans.
• The vesting schedules and exercise prices are typically benchmarked against industry peers to attract and retain talent.
• Sell-to-cover transactions are a common method used by executives across various industries to manage the tax implications of stock option exercises.

Key Dates