Form 4: La-Z-Boy Director James P. Hackett Reports Acquisition of Restricted Stock Units

Director James P. Hackett reports acquisition of restricted stock units in La-Z-Boy Incorporated under the 2024 Omnibus Incentive Plan.

Summary

• On August 29, 2024, James P. Hackett, a director of La-Z-Boy Incorporated, reported the acquisition of 3,372 common shares.
• These shares were acquired in the form of restricted stock units granted under the La-Z-Boy Incorporated 2024 Omnibus Incentive Plan.
• Each restricted stock unit is equivalent to one share of LZB common stock.
• The restricted stock units will vest one year from the award date and will be settled in stock within 60 days following the vesting date.
• Following the transaction, Hackett beneficially owns 13,054 common shares.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive as it reflects standard executive compensation practices that align management interests with shareholder value.

Positives

• The grant of restricted stock units aligns the director's interests with those of the shareholders.
• The vesting period encourages long-term commitment from the director.

Future Outlook

The restricted stock units will vest one year from the award date and will be settled in stock within 60 days following the vesting date.

Industry Context

This is a standard practice for aligning the interests of company directors with those of shareholders through equity-based compensation.

Stakeholder Impact

• The grant of restricted stock units aligns the director's interests with those of the shareholders, potentially leading to better corporate governance and decision-making.

Key Dates