Form 4: IBM Vice Chairman Gary D. Cohn Reports Stock Transactions
SEC Form 4 Filing
IBM's Vice Chairman, Gary D. Cohn, reported the vesting of restricted stock units and the subsequent withholding of shares to cover taxes.
Summary
- Gary D. Cohn, Vice Chairman of IBM, reported a transaction involving restricted stock units (RSUs) on January 4, 2025.
- A total of 5,114 RSUs vested, which were converted into common stock.
- Following the vesting, 2,197 shares were withheld to cover tax obligations at a price of $222.075 per share.
- After these transactions, Mr. Cohn's direct holdings of IBM common stock decreased to 70,745.338 shares.
Sentiment
Score: 5
Explanation: The document is a routine disclosure of stock transactions, which is neither positive nor negative for the company's performance.
Industry Context
This is a routine disclosure of stock transactions by a company executive, which is common practice for publicly traded companies.
Comparison to Industry Standards
- Executive stock transactions are a standard part of compensation packages in publicly traded companies like IBM.
- The vesting schedule and tax withholding practices are typical for RSU grants.
- Other large technology companies such as Microsoft, Apple, and Google also regularly report similar transactions by their executives.
Stakeholder Impact
- The transaction has a minor impact on the total number of outstanding shares of IBM.
- The tax withholding benefits the government.
Key Dates
| Date | Description |
|---|---|
| 01/04/2021 | Date of original grant of 19,794 RSUs. |
| 11/03/2021 | Date of Kyndryl Holdings, Inc. spin-off, which resulted in an adjustment to unvested IBM RSUs. |
| 01/04/2022 | First vesting date of 4,948 RSUs. |
| 01/04/2023 | Second vesting date of 4,949 RSUs. |
| 01/04/2024 | Third vesting date of 4,948 RSUs. |
| 01/04/2025 | Final vesting date of 4,949 RSUs and the date of the reported transaction. |
| 01/06/2025 | Date the Form 4 was signed. |
Keywords
IBM, insider trading, stock transaction, restricted stock units, RSU, Gary D. Cohn, Form 4, executive compensation
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