4/A: John C. Reed, EVP at Johnson & Johnson, Amends Form 4 Filing to Correct Transaction Details
SEC Form 4/A (Amendment to Statement of Changes in Beneficial Ownership)
John C. Reed, EVP of Innovative Medicine R&D at Johnson & Johnson, amended a Form 4 filing to correct the total number of shares transacted and the number of securities beneficially owned following a transaction on May 1, 2024.
Summary
- John C. Reed, an Executive Vice President at Johnson & Johnson, filed an amended Form 4 with the SEC.
- The amendment corrects the original filing from May 3, 2024, regarding transactions on May 1, 2024.
- The corrections pertain to the total number of shares transacted and the number of securities beneficially owned after the reported transaction.
- On May 1, 2024, 25,255 Restricted Share Units vested and converted into shares of Common Stock.
- Also on May 1, 2024, 10,984 shares were withheld for payment of taxes upon vesting of the Restricted Share Units at a price of $144.59.
- Following the transactions, Reed beneficially owns 14,577 shares of Common Stock and 50,510 Restricted Share Units.
Sentiment
Score: 7
Explanation: The document is a routine regulatory filing correcting previously reported information. It doesn't contain any information that would significantly impact investor sentiment positively or negatively. The correction itself suggests a commitment to accuracy, which is a slightly positive signal.
Industry Context
This filing is a routine disclosure related to executive compensation and stock ownership, common for publicly traded companies like Johnson & Johnson. It provides transparency to investors regarding the transactions of company insiders.
Comparison to Industry Standards
- Executive compensation practices, including the use of restricted share units, are common among large, publicly traded companies like Johnson & Johnson.
- Companies such as Pfizer, Merck, and AbbVie also utilize similar equity-based compensation plans to align executive interests with shareholder value.
- The vesting schedules and terms of these grants are generally benchmarked against industry standards to attract and retain top talent.
Stakeholder Impact
- The correction of the filing ensures accurate information is available to shareholders and potential investors.
- The transactions reflect part of the executive compensation structure, impacting John C. Reed's holdings in the company.
Key Dates
| Date | Description |
|---|---|
| 05/01/2023 | Date of grant for the Restricted Share Units that vest in three annual equal installments. |
| 05/01/2024 | Date of the transactions being reported: vesting of Restricted Share Units and withholding of shares for tax payments. |
| 05/03/2024 | Date of the original Form 4 filing that is being amended. |
| 10/31/2024 | Date of the amended filing. |
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