Form 4: ITT Inc. Vice President & CAO, Cheryl de Mesa Graziano, Reports Stock Award and Tax Withholding
SEC Form 4 Filing
Cheryl de Mesa Graziano, Vice President & CAO of ITT Inc., reports the acquisition of restricted stock units and the withholding of shares for tax obligations.
Summary
- On March 4, 2024, Cheryl de Mesa Graziano, Vice President & CAO of ITT Inc., was awarded 1,595 restricted stock units.
- These units are scheduled to vest ratably on March 4, 2025, March 4, 2026, and March 4, 2027.
- Also on March 4, 2024, 269 shares of common stock were withheld to cover the tax liability associated with the vesting of restricted stock units.
- The withholding price was $128.2 per share.
- Following these transactions, Ms. de Mesa Graziano beneficially owns 4,432 shares of ITT Inc. common stock.
Sentiment
Score: 7
Explanation: The sentiment is neutral to slightly positive. The filing reflects standard executive compensation practices and aligns management interests with shareholders through stock ownership.
Positives
- The award of restricted stock units aligns Ms. de Mesa Graziano's interests with those of the shareholders, incentivizing her to contribute to the company's long-term success.
Future Outlook
The restricted stock units vest over a three-year period, indicating a long-term incentive structure.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This filing indicates standard compensation practices.
Comparison to Industry Standards
- Stock awards are a common component of executive compensation packages in publicly traded companies like ITT Inc.
- Companies such as General Electric, Honeywell, and Siemens, which operate in similar industrial sectors, also utilize stock-based compensation to align executive interests with shareholder value.
- The vesting schedule of the restricted stock units (three years) is typical for such awards.
Stakeholder Impact
- Shareholders benefit from transparency regarding executive compensation and insider transactions.
- Employees may view stock awards as a positive aspect of the company's compensation structure.
Key Dates
| Date | Description |
|---|---|
| 03/04/2024 | Date of restricted stock unit award and tax withholding. |
| 03/04/2025 | First vesting date for restricted stock units. |
| 03/04/2026 | Second vesting date for restricted stock units. |
| 03/04/2027 | Final vesting date for restricted stock units. |
| 03/06/2024 | Date of Form 4 filing. |
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