Form 4: Wiley Executive Aref Matin Reports Stock Transactions Following Vesting of Restricted Stock Units
SEC Form 4 Filing
EVP and Chief Technology Officer of John Wiley & Sons, Aref Matin, reports acquisition of Class A Common stock and disposal of shares to cover tax obligations following the vesting of restricted stock units.
Summary
- On April 30, 2024, Aref Matin, EVP and Chief Technology Officer of John Wiley & Sons, reported transactions involving Class A Common stock.
- These transactions involved the vesting of restricted stock units (RSUs) granted on June 26, 2020, June 24, 2021, June 22, 2022, and June 23, 2023.
- A total of 9,479 shares were acquired through the vesting of these RSUs.
- 4,372 shares were disposed of to cover withholding tax liabilities at a price of $37.57 per share.
- Following these transactions, Matin directly owns 35,043 shares of Class A Common stock and 9,989 Restricted Stock Units.
Sentiment
Score: 5
Explanation: The document reflects routine executive compensation activity. It doesn't indicate any particularly positive or negative sentiment.
Positives
- The vesting of restricted stock units suggests that the executive is meeting performance criteria set by the company.
Industry Context
Executive stock transactions are a normal part of corporate governance and compensation practices. Monitoring these transactions can provide insights into management's view of the company's prospects.
Comparison to Industry Standards
- Executive compensation packages often include restricted stock units that vest over time, aligning executive interests with long-term shareholder value.
- Companies like Pearson and RELX Group also use similar equity-based compensation for their executives.
- The vesting schedules and tax withholding practices are generally consistent with industry norms.
Stakeholder Impact
- The transactions have a minor impact on shareholders as they involve a small number of shares relative to the total outstanding.
Key Dates
| Date | Description |
|---|---|
| June 26, 2020 | Reporting person was granted 7,631 restricted stock units, vesting in four equal annual installments beginning on April 30th of each year after grant. |
| June 24, 2021 | Reporting person was granted 7,560 restricted stock units, vesting in four equal annual installments, beginning on April 30th of each year after grant. |
| June 22, 2022 | Reporting person was granted 9,407 restricted share units, vesting in four equal annual installments beginning on April 30th of each year after grant. |
| June 23, 2023 | Reporting person was granted 13,318 restricted stock units, vesting in four equal annual installments beginning on April 30th of each year after grant. |
| April 30, 2024 | Date of transaction: vesting of restricted stock units and disposal of shares for tax obligations. |
| May 02, 2024 | Date of Form 4 filing. |
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