Form 4: IFF CFO Glenn Richter Reports Changes in Beneficial Ownership
SEC Form 4 Filing
Glenn Richter, CFO of International Flavors & Fragrances Inc. (IFF), reported changes in his beneficial ownership of company stock due to the settlement of a Long Term Incentive Plan and associated tax withholding.
Summary
- On March 1, 2024, Glenn Richter, CFO of International Flavors & Fragrances Inc. (IFF), reported changes in his beneficial ownership of IFF common stock.
- He acquired 99 shares as part of the 2021-2023 Long Term Incentive Plan (LTIP) cycle, with the share number determined based on the average closing market price prior to September 27, 2021.
- 46 shares were withheld to cover tax obligations related to the LTIP share receipt.
- Following these transactions, Richter directly owns 17,646 shares of IFF common stock.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing, neither particularly positive nor negative. It reflects standard compensation practices.
Positives
- The acquisition of shares through the LTIP indicates a performance-based incentive for the CFO.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This filing indicates the CFO's participation in the company's long-term incentive plan.
Stakeholder Impact
- The filing provides transparency to shareholders regarding executive compensation and ownership.
Key Dates
| Date | Description |
|---|---|
| 09/27/2021 | First stock trading day of the 2021-2023 LTIP cycle, used to determine the number of shares awarded. |
| 03/01/2024 | Date of the transaction: acquisition of shares under the LTIP and disposal of shares for tax withholding. |
| 03/05/2024 | Date of signature for the Form 4 filing. |
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