Form 4: Korn Ferry EVP, CFO & CCO Robert Rozek Reports Changes in Beneficial Ownership
SEC Form 4 Filing
Robert Rozek, EVP, CFO & CCO of Korn Ferry, reports transactions involving common stock, including acquisitions from settled performance units and disposals to cover tax obligations.
Summary
- On July 8, 2024, Robert Rozek disposed of 8,866 shares of Korn Ferry common stock at $66.43 per share to cover tax obligations related to vesting restricted stock.
- On July 9, 2024, Rozek acquired 14,880 shares upon settlement of Relative TSR performance units granted on July 9, 2021, under the company's stock incentive plan.
- Also on July 9, 2024, Rozek disposed of 6,302 shares at $64.65 per share and 1,151 shares at $64.65 per share to cover tax obligations related to the settlement of performance units and vesting of restricted stock, respectively.
- Following these transactions, Rozek beneficially owns 159,310 shares of Korn Ferry common stock.
Sentiment
Score: 6
Explanation: Neutral sentiment as the transactions are routine and related to equity compensation and tax obligations.
Positives
- Acquisition of 14,880 shares indicates the satisfaction of performance criteria related to the Relative TSR performance units, which is a positive signal.
Negatives
- Disposal of shares to cover tax obligations could be perceived as slightly negative, although it's a common practice.
Risks
- The document does not explicitly mention any risks.
Industry Context
Form 4 filings are standard practice and provide transparency into the trading activities of company insiders. This filing indicates routine transactions related to equity compensation.
Comparison to Industry Standards
- Equity compensation and related tax withholding are standard practices across publicly traded companies.
- Companies like Heidrick & Struggles and Spencer Stuart also utilize equity-based compensation for their executives.
Stakeholder Impact
- The transactions have a minimal direct impact on stakeholders as they are related to executive compensation and tax obligations.
Key Dates
| Date | Description |
|---|---|
| 07/09/2021 | Date of grant for Relative TSR performance units under the Korn Ferry Fourth Amended and Restated 2008 Stock Incentive Plan. |
| 07/08/2024 | Date of disposal of shares to satisfy tax withholding obligations. |
| 07/09/2024 | Date of acquisition of shares upon settlement of Relative TSR performance units and disposal of shares to satisfy tax withholding obligations. |
| 07/11/2024 | Date of signature for the Form 4 filing. |
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