Form 4: Knowles Corp CEO Jeffrey Niew Reports Stock Transactions
SEC Form 4
Knowles Corp CEO Jeffrey Niew reports acquisition and disposal of company stock, including settlement of performance share units and restricted stock units.
Summary
- Knowles Corp CEO Jeffrey Niew reported several transactions involving Knowles Corp common stock.
- On February 18, 2025, Niew acquired 96,263 shares at $18.34 related to the settlement of performance share units (PSUs).
- Also on February 18, 2025, 42,645 shares were disposed of at $18.34 to cover tax liabilities associated with the PSU settlement.
- Additionally, on February 18, 2025, Niew acquired 107,961 restricted stock units (RSUs) at $0.0.
- On December 10, 2024, 4,423 shares held indirectly through a 401(k) plan were liquidated due to the elimination of the Knowles Stock Fund as an investment option.
Sentiment
Score: 6
Explanation: The sentiment is neutral as the transactions are routine and related to executive compensation and tax obligations. There is no indication of unusual or concerning activity.
Positives
- The settlement of performance share units indicates the achievement of certain performance goals during the three-year performance period from January 1, 2022, through December 31, 2024.
- The grant of restricted stock units aligns the executive's interests with the long-term performance of the company, as they vest ratably over three years.
Negatives
- The disposal of shares to cover tax liabilities reduces the executive's direct holdings in the company.
Future Outlook
The restricted stock units vest ratably over three years commencing on the first anniversary of the award, suggesting continued alignment of executive compensation with long-term company performance.
Industry Context
Executive stock transactions are a common occurrence in publicly traded companies and are often scrutinized by investors for insights into management's confidence in the company's future prospects.
Stakeholder Impact
- The transactions may have a minor impact on shareholders due to the change in the CEO's holdings, but the overall effect is likely to be negligible.
Key Dates
| Date | Description |
|---|---|
| 12/10/2024 | Knowles Corporation eliminated the Knowles Stock Fund as an investment alternative under Knowles Corporation’s 401(k) plan, resulting in the liquidation of 4,423 shares. |
| 02/18/2025 | Settlement of performance share units (PSUs) resulting in the acquisition of 96,263 shares and disposal of 42,645 shares for tax liability. |
| 02/18/2025 | Grant of 107,961 restricted stock units (RSUs) under the Knowles Corporation 2018 Equity and Cash Incentive Plan. |
| 02/20/2025 | Date of signature for the Form 4 filing. |
Keywords
Knowles Corp, Jeffrey Niew, stock transactions, Form 4, performance share units, restricted stock units, 401(k), insider trading
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