Form 4: Kratos Executive Phillip D. Carrai Acquires Shares Through Performance Awards
SEC Form 4
Phillip D. Carrai, President of the STC Division at Kratos Defense & Security Solutions, acquired a total of 133,333 shares of common stock on February 29, 2024, through the settlement of performance-based restricted stock units.
Summary
- On February 29, 2024, Phillip D. Carrai, President of the STC Division at Kratos Defense & Security Solutions, acquired 133,333 shares of common stock.
- These shares were obtained through the settlement of Performance Restricted Stock Unit Awards granted on January 3, 2020 (33,333 shares), January 4, 2021 (33,333 shares), January 3, 2022 (16,667 shares), and January 3, 2023 (50,000 shares).
- The acquisition price for these shares was $0.
- Following these transactions, Carrai directly owns 356,521 shares and indirectly owns 46,644 shares through a trust.
- The direct holdings include 11,385 shares purchased through the Employee Stock Purchase Plan and approximately 3,283 shares held through the 401(k) Plan.
Sentiment
Score: 6
Explanation: The document reflects a routine transaction related to executive compensation. It's neither overwhelmingly positive nor negative, but suggests alignment of executive interests with company performance.
Positives
- The acquisition of shares by a high-ranking executive could be interpreted as a positive signal about the executive's confidence in the company's future performance.
- The shares were earned through performance-based awards, suggesting that Carrai has contributed to the company's success.
Industry Context
Executive stock ownership is a common practice in publicly traded companies and is often used to align the interests of management with those of shareholders. The acquisition of shares through performance-based awards is a typical component of executive compensation packages.
Stakeholder Impact
- The transaction could have a minor positive impact on shareholder sentiment, as it signals confidence from a key executive.
- There is no direct impact on employees, customers, suppliers, or creditors.
Key Dates
| Date | Description |
|---|---|
| 2020-01-03 | Date of grant for Performance Restricted Stock Unit Award settled on 02/29/2024 (33,333 shares) |
| 2021-01-04 | Date of grant for Performance Restricted Stock Unit Award settled on 02/29/2024 (33,333 shares) |
| 2022-01-03 | Date of grant for Performance Restricted Stock Unit Award settled on 02/29/2024 (16,667 shares) |
| 2023-01-03 | Date of grant for Performance Restricted Stock Unit Award settled on 02/29/2024 (50,000 shares) |
| 2024-02-29 | Date of transaction: Phillip D. Carrai acquired shares through settlement of performance awards. |
| 2024-03-04 | Date of signature for the Form 4 filing. |
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