Form 4: LeMaitre Vascular CEO George W. LeMaitre Reports Acquisition of Dividend Equivalent Rights
SEC Form 4 Filing
George W. LeMaitre, Chairman and CEO of LeMaitre Vascular, reports the acquisition of dividend equivalent rights related to restricted stock unit and performance share unit awards.
Summary
- On March 27, 2025, George W. LeMaitre, Chairman and CEO of LeMaitre Vascular, acquired dividend equivalent rights.
- These rights are associated with restricted stock unit (RSU) and performance share unit (PSU) awards granted between December 2020 and December 2024.
- The dividend equivalent rights vest proportionately with the underlying RSU and PSU awards.
- Each dividend equivalent right represents the economic equivalent of one share of LeMaitre Vascular's common stock.
- A total of 51.7321 dividend equivalent rights were acquired at a price of $0.
- The reporting person now holds between 11.7851 and 60.4829 dividend equivalent rights.
Sentiment
Score: 5
Explanation: This is a neutral disclosure of standard executive compensation practices. It doesn't indicate positive or negative performance, but rather routine equity award activity.
Industry Context
This filing is a routine disclosure related to executive compensation and is common for publicly traded companies. It reflects the ongoing vesting of previously granted equity awards.
Comparison to Industry Standards
- Equity compensation, including restricted stock units and performance share units, is a standard practice in the medical device industry to align executive interests with shareholder value.
- Dividend equivalent rights are often included in equity awards to provide executives with the same dividend benefits as common shareholders during the vesting period.
- Companies like Medtronic, Stryker, and Boston Scientific also utilize similar equity compensation structures for their executives.
Stakeholder Impact
- The acquisition of dividend equivalent rights has a minimal direct impact on shareholders.
- It reflects the ongoing compensation structure for the CEO, aligning his interests with the company's performance.
Key Dates
| Date | Description |
|---|---|
| 12/2/2020 | Date of grant for restricted stock unit award related to dividend equivalent rights. |
| 12/11/2021 | Date of grant for restricted stock unit award related to dividend equivalent rights. |
| 12/12/2022 | Date of grant for restricted stock unit and performance share unit awards related to dividend equivalent rights. |
| 12/8/2023 | Date of grant for restricted stock unit and performance share unit awards related to dividend equivalent rights. |
| 12/6/2024 | Date of grant for restricted stock unit award related to dividend equivalent rights. |
| 03/27/2025 | Date of transaction: Acquisition of dividend equivalent rights. |
| 03/31/2025 | Date of signature for the Form 4 filing. |
Keywords
dividend equivalent rights, LeMaitre Vascular, LMAT, Form 4, insider trading, George W. LeMaitre, restricted stock units, performance share units, beneficial ownership
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