Form 4: Director Baker Increases Holdings in John Wiley & Sons Through Dividend Reinvestment

Director Mari Jean Baker acquired additional phantom stock units in John Wiley & Sons through a dividend reinvestment under the company's deferred compensation plan.

Summary

• On April 25, 2024, Director Mari Jean Baker acquired 307 phantom stock units of John Wiley & Sons, Inc. at a price of $37.95 per unit.
• This acquisition was a result of a quarterly dividend and deferred under the John Wiley & Sons, Inc. Deferred Compensation Plan for Directors.
• Following the transaction, Baker directly owns 33,644 phantom stock units.
• These units will be settled in Class A Common stock upon separation of service from the Board, with distribution occurring either in a lump sum or in installments over a period up to 10 years.

Sentiment

Score: 7

Explanation: The sentiment is neutral to positive as it reflects a director increasing their stake in the company through a standard compensation mechanism, indicating confidence in the company's future.

Positives

• The acquisition of phantom stock units through dividend reinvestment demonstrates the director's continued investment and confidence in the company's future.

Future Outlook

The phantom stock units will be settled in Class A Common stock upon the director's separation of service from the Board, with distribution occurring either in a lump sum or in installments over a period up to 10 years, according to the director's election.

Industry Context

Directors often participate in deferred compensation plans and dividend reinvestment programs, which are common practices in publicly traded companies to align the interests of management with those of shareholders.

Comparison to Industry Standards

• Deferred compensation plans for directors are a common practice among publicly traded companies, including competitors like Pearson and Cengage Learning, to incentivize long-term performance and align interests with shareholders.
• Dividend reinvestment programs are also standard, allowing directors to increase their stake in the company without direct cash investment, similar to programs offered by companies like McGraw Hill.

Stakeholder Impact

• The transaction signals to shareholders that a director is increasing their investment in the company, potentially boosting investor confidence.

Key Dates