Form 4: LeMaitre Vascular CFO Reports Acquisition of Dividend Equivalent Rights
SEC Form 4 Filing
Joseph P. Pellegrino JR, CFO of LeMaitre Vascular, reports the acquisition of dividend equivalent rights related to restricted stock unit and performance share unit awards.
Summary
- On March 28, 2024, Joseph P. Pellegrino JR, the Chief Financial Officer of LeMaitre Vascular Inc. (LMAT), reported the acquisition of dividend equivalent rights.
- These rights are associated with previously granted restricted stock unit (RSU) and performance share unit (PSU) awards.
- The dividend equivalent rights accrued on RSU awards granted on December 20, 2019, December 2, 2020, December 11, 2021, December 12, 2022 and December 8, 2023.
- Dividend equivalent rights also accrued on a PSU award granted on December 12, 2022.
- A total of 23.5849 dividend equivalent rights were acquired.
- Each dividend equivalent right is the economic equivalent of one share of LeMaitre Vascular's common stock.
Sentiment
Score: 7
Explanation: The document is a routine regulatory filing related to executive compensation. It doesn't contain any information that would significantly impact investor sentiment positively or negatively. The sentiment is neutral to slightly positive as it reflects standard compensation practices.
Industry Context
This is a routine Form 4 filing, reflecting standard compensation practices involving equity-based awards and associated dividend equivalent rights. It's common for companies to grant RSUs and PSUs to executives, and dividend equivalent rights ensure that the holders receive the same economic benefit as common shareholders during the vesting period.
Comparison to Industry Standards
- Equity compensation, including RSUs and PSUs with dividend equivalent rights, is a standard practice among publicly traded companies, particularly in the medical device industry.
- Companies like Medtronic, Boston Scientific, and Abbott also utilize similar compensation structures to align executive interests with shareholder value.
- The specific terms and amounts of these awards vary based on company size, performance, and individual executive roles.
Stakeholder Impact
- The acquisition of dividend equivalent rights by the CFO has a minimal direct impact on shareholders, employees, customers, suppliers, or creditors.
- It is part of the executive compensation package designed to align management's interests with those of the shareholders.
Key Dates
| Date | Description |
|---|---|
| 12/20/2019 | Date of restricted stock unit award grant related to dividend equivalent rights. |
| 12/02/2020 | Date of restricted stock unit award grant related to dividend equivalent rights. |
| 12/11/2021 | Date of restricted stock unit award grant related to dividend equivalent rights. |
| 12/12/2022 | Date of restricted stock unit and performance share unit award grants related to dividend equivalent rights. |
| 12/08/2023 | Date of restricted stock unit award grant related to dividend equivalent rights. |
| 03/28/2024 | Date of transaction: Acquisition of dividend equivalent rights. |
| 04/01/2024 | Date of Form 4 signature. |
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