Form 4: Latham Group CFO Reports Acquisition of Performance Stock Units and Restricted Stock Units
SEC Form 4
Oliver C. Gloe, CFO of Latham Group, reports the acquisition of performance stock units and restricted stock units.
Summary
- On March 5, 2025, Oliver C. Gloe, the CFO of Latham Group, acquired 120,052 performance stock units (PSUs) at $0.
- These PSUs were earned over a one-year performance period granted on March 15, 2024, under the Issuer's 2021 Omnibus Equity Incentive Plan and will vest on March 15, 2027.
- On March 7, 2025, Mr. Gloe acquired 53,411 restricted stock units (RSUs) at $0.
- These RSUs will vest in installments: 13,352 shares on March 7, 2026, and 13,353 shares on each of March 7, 2027, 2028, and 2029.
- Following these transactions, Mr. Gloe beneficially owns 465,169 shares of Common Stock.
Sentiment
Score: 6
Explanation: The sentiment is neutral. It's a routine filing related to executive compensation. The acquisition of stock units is generally a positive sign, but it's not a major event.
Positives
- The acquisition of PSUs and RSUs by the CFO could be seen as a positive sign, indicating confidence in the company's future performance.
Industry Context
This filing is a routine disclosure related to executive compensation and is typical for publicly traded companies. It provides transparency regarding the equity holdings of key executives.
Comparison to Industry Standards
- Equity compensation in the form of PSUs and RSUs is a common practice among publicly traded companies to align management's interests with those of shareholders.
- Vesting schedules of 3-4 years are also standard for such grants.
- Comparable companies in the building products or manufacturing sectors, such as Fortune Brands Home & Security or Masco Corporation, also utilize similar equity compensation plans for their executives.
Stakeholder Impact
- Shareholders may view the equity grants as aligning management's interests with the company's long-term performance.
- Employees may see the grants as a sign of the company's commitment to its executives.
Key Dates
| Date | Description |
|---|---|
| 03/15/2024 | Date of grant for the performance stock units under the Issuer's 2021 Omnibus Equity Incentive Plan. |
| 03/05/2025 | Date of acquisition of 120,052 performance stock units. |
| 03/07/2025 | Date of acquisition of 53,411 restricted stock units. |
| 03/10/2025 | Date of signature on the Form 4 filing. |
| 03/07/2026 | First vesting date for 13,352 of the restricted stock units. |
| 03/07/2027 | Vesting date for 13,353 of the restricted stock units and vesting date for the performance stock units. |
| 03/07/2028 | Vesting date for 13,353 of the restricted stock units. |
| 03/07/2029 | Final vesting date for 13,353 of the restricted stock units. |
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