Form 4: Leslie's Inc. CFO Scott Bowman Awarded 84,529 Restricted Stock Units

Leslie's Inc. Chief Financial Officer, Scott Bowman, was granted 84,529 restricted stock units that will vest over three years.

Summary

• Scott Bowman, the Chief Financial Officer of Leslie's Inc., was granted 84,529 restricted stock units (RSUs) on December 14, 2024.
• These RSUs represent the right to receive one share of Leslie's common stock per unit upon vesting.
• The RSUs will vest in equal installments on December 14, 2025, December 14, 2026, and December 14, 2027.
• Vesting is contingent upon Mr. Bowman's continuous employment with Leslie's or an affiliate until each applicable vesting date.
• Following this transaction, Mr. Bowman beneficially owns 220,335 shares of Leslie's common stock.

Sentiment

Score: 7

Explanation: The document reflects a standard executive compensation practice, which is generally viewed positively as it aligns management with shareholder interests. There are no negative implications or surprises.

Positives

• The grant of RSUs aligns the CFO's interests with the long-term performance of the company.
• The vesting schedule encourages continued service and commitment from the CFO.

Risks

• The vesting of the RSUs is contingent on Mr. Bowman's continued employment, which introduces a risk of forfeiture if he leaves the company before the vesting dates.

Future Outlook

The document does not contain any forward-looking statements or guidance beyond the vesting schedule of the RSUs.

Industry Context

The granting of restricted stock units is a common practice in executive compensation packages to align management's interests with those of shareholders and to incentivize long-term performance.

Comparison to Industry Standards

• The use of restricted stock units as part of executive compensation is a standard practice across many industries, including retail and consumer goods, where Leslie's operates.
• Companies like Pool Corporation (POOL) and other specialty retailers often use similar equity-based compensation to retain and motivate key executives.
• The three-year vesting schedule is also a common timeframe for such grants, aligning with typical long-term incentive plans.

Stakeholder Impact

• Shareholders may view the RSU grant positively as it incentivizes the CFO to focus on long-term value creation.
• Employees may see this as a positive sign of the company's commitment to its leadership.

Key Dates

Keywords

Restricted Stock Units, RSU, Stock Grant, Executive Compensation, Scott Bowman, Leslie's Inc., LESL, CFO, Vesting