Form 4: Johnson Controls Executive Receives Stock Options and Restricted Share Units
SEC Form 4 Filing
Nathan D. Manning, COO of Global Field Operations at Johnson Controls, was granted stock options and restricted share units on December 2, 2024.
Summary
- Nathan D. Manning, the COO of Global Field Operations at Johnson Controls, received 6,776 restricted share units on December 2, 2024.
- These restricted share units will vest in three equal installments annually starting on the first anniversary of the grant date.
- Manning also received 23,011 employee stock options with an exercise price of $83.67 on the same date.
- Fifty percent of these options become exercisable on the second anniversary of the grant, and the remaining fifty percent become exercisable on the third anniversary.
- The stock options expire on December 2, 2034.
Sentiment
Score: 7
Explanation: The document reflects standard executive compensation practices, which are generally viewed positively as they align management interests with shareholders. There are no negative implications.
Positives
- The grant of restricted share units and stock options aligns the executive's interests with those of the shareholders.
- The vesting schedule for both the restricted share units and stock options encourages long-term performance and retention.
Industry Context
This type of equity grant is a common practice for publicly traded companies to incentivize and retain key executives.
Comparison to Industry Standards
- Equity grants are a standard component of executive compensation packages in the industrial sector.
- Companies like Honeywell and Siemens also use stock options and restricted stock units to align executive interests with shareholder value.
- The vesting schedules described are typical for these types of grants, often spanning two to three years.
Stakeholder Impact
- Shareholders may view this as a positive sign that management is incentivized to perform well.
- Employees may see this as a positive sign of the company's commitment to its leadership.
Key Dates
| Date | Description |
|---|---|
| 12/02/2024 | Date of the grant of restricted share units and stock options. |
| 12/07/2026 | Date when 50% of the stock options become exercisable. |
| 12/02/2034 | Expiration date of the stock options. |
| 12/04/2024 | Date the form was signed. |
Keywords
stock options, restricted share units, executive compensation, insider trading, Johnson Controls, JCI, equity
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