Form 4: IBM CFO James J. Kavanaugh Reports Stock Transactions Following Vesting of Performance Share Units
SEC Form 4
IBM's CFO, James J. Kavanaugh, acquired 37,719 shares of common stock due to the vesting of performance share units and subsequently disposed of 18,336 shares to cover tax obligations.
Summary
- James J. Kavanaugh, the Senior Vice President and CFO of IBM, reported transactions involving the company's common stock on February 1, 2025.
- Mr. Kavanaugh acquired 37,719 shares of IBM common stock as a result of performance share units vesting at the end of the 2022-2024 performance period.
- These shares were payable in cash or common stock, and Mr. Kavanaugh elected to receive them in stock.
- Following the acquisition, Mr. Kavanaugh disposed of 18,336 shares of common stock at a price of $254.555 per share.
- This disposal was likely to cover tax obligations related to the vesting of the performance share units.
- After these transactions, Mr. Kavanaugh beneficially owns 143,615.6516 shares of IBM common stock.
Sentiment
Score: 5
Explanation: The document reflects routine transactions related to executive compensation and does not indicate any positive or negative sentiment.
Industry Context
This is a routine filing related to executive compensation and is common for publicly traded companies. It reflects the vesting of performance-based equity awards.
Comparison to Industry Standards
- The vesting of performance share units and subsequent sale of shares to cover taxes is a standard practice in executive compensation across many large publicly traded companies.
- Similar transactions are regularly reported by executives at companies like Microsoft, Apple, and Oracle, reflecting the common use of equity-based compensation.
Stakeholder Impact
- The transactions have a minimal impact on shareholders as they are related to executive compensation and do not represent a significant change in the company's financial position.
Key Dates
| Date | Description |
|---|---|
| 02/01/2025 | Date of the stock acquisition and disposal transactions. |
| 02/03/2025 | Date the SEC Form 4 was signed. |
Keywords
IBM, James J. Kavanaugh, CFO, stock transaction, performance share units, vesting, insider trading, SEC Form 4
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