Form 4: Lands' End CCO, CAO and General Counsel Peter L. Gray Reports Stock Transactions
SEC Form 4 Filing
Peter L. Gray, CCO, CAO and General Counsel of Lands' End, Inc., reports the vesting of restricted stock units and subsequent tax withholding.
Summary
- On June 14, 2024, Peter L. Gray, CCO, CAO and General Counsel of Lands' End, Inc., had 10,867 Restricted Stock Units (RSUs) vest.
- These RSUs converted into common stock at a price of $0 per share.
- Following the vesting, 3,537 shares were withheld by the issuer to cover tax obligations at a price of $14.42 per share.
- After these transactions, Gray directly owns 114,724 shares of Lands' End common stock and 66,720 RSUs.
Sentiment
Score: 5
Explanation: This is a neutral report on stock transactions, with no inherent positive or negative implications for the company's performance.
Future Outlook
Future vesting of RSUs is contingent upon maintaining a continuous business relationship with the company.
Industry Context
This filing is a routine disclosure of stock transactions by a company insider, which is common practice and regulated by the SEC to ensure transparency and prevent insider trading.
Stakeholder Impact
- The vesting of RSUs and subsequent tax withholding have a minor dilutive effect on existing shareholders.
Key Dates
| Date | Description |
|---|---|
| 06/14/2023 | Date the RSU award was granted. |
| 06/14/2024 | Date of RSU vesting and tax withholding. |
| 06/14/2025 | Date of next RSU vesting installment (25%). |
| 03/18/2025 | Date of RSU vesting. |
| 04/01/2025 | Date of RSU vesting. |
| 06/14/2026 | Date of final RSU vesting installment (50%). |
| 04/01/2026 | Date of RSU vesting. |
| 04/01/2027 | Date of RSU vesting. |
| 06/18/2024 | Date of Form 4 filing. |
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