Form 4: Korn Ferry CEO Gary Burnison Reports Stock Transactions
SEC Form 4
Korn Ferry CEO Gary Burnison reports the acquisition and disposal of company stock related to vesting of restricted stock and settlement of performance units.
Summary
- On July 8, 2024, Gary Burnison, CEO of Korn Ferry, disposed of 26,291 shares of common stock at $66.43 per share to cover tax obligations related to the vesting of restricted stock.
- On July 9, 2024, Burnison acquired 35,720 shares upon settlement of Relative TSR performance units granted on July 9, 2021.
- Also on July 9, 2024, Burnison disposed of 18,103 shares at $64.65 per share to cover tax obligations related to the settlement of the performance units.
- Additionally, on July 9, 2024, Burnison disposed of 3,305 shares at $64.65 per share to cover tax obligations related to the vesting of restricted stock.
- Following these transactions, Burnison directly owns 334,337 shares of Korn Ferry common stock.
Sentiment
Score: 6
Explanation: The sentiment is neutral as the transactions are related to standard executive compensation practices (vesting and performance unit settlement) and tax obligations. There is no indication of unusual or concerning activity.
Positives
- The settlement of Relative TSR performance units indicates that the company met certain performance criteria, which is a positive sign.
Industry Context
Form 4 filings are standard practice for reporting insider transactions and provide transparency into the trading activities of company executives.
Comparison to Industry Standards
- Monitoring insider transactions is a common practice in financial analysis to gauge executive sentiment and potential future performance.
- Comparing Burnison's transactions to those of executives at similar firms like Heidrick & Struggles or Spencer Stuart could provide additional context.
Stakeholder Impact
- The transactions have a minor impact on shareholders as they reflect routine executive compensation adjustments.
Key Dates
| Date | Description |
|---|---|
| July 9, 2021 | Date of grant for Relative TSR performance units under the Korn Ferry Fourth Amended and Restated 2008 Stock Incentive Plan |
| July 8, 2024 | Date of disposal of shares to cover tax obligations related to vesting of restricted stock |
| July 9, 2024 | Date of acquisition of shares upon settlement of Relative TSR performance units and disposal of shares to cover related tax obligations |
| July 11, 2024 | Date of signature for the Form 4 filing |
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