Form 4: Lifetime Brands CEO Robert Kay Reports Stock Transactions Following Vesting of Restricted Stock

Robert Bruce Kay, CEO of Lifetime Brands, reports the withholding of common stock to cover tax liabilities associated with the vesting of restricted stock and the grant of additional restricted stock.

Summary

• On March 8, 2025, Robert Bruce Kay, the CEO of Lifetime Brands, had common stock withheld to cover tax liabilities related to the vesting of restricted stock granted in previous years.
• Specifically, shares were withheld related to stock granted on March 8, 2022, March 8, 2023 and March 8, 2024.
• On March 9, 2025, shares were withheld related to stock granted on March 9, 2021.
• The price per share for these transactions was $5.18.
• On March 11, 2025, Kay was granted 196,986 shares of restricted stock pursuant to the company's Amended and Restated 2000 Long-Term Incentive Plan.
• These shares vest 25% per year, commencing on the first anniversary of the grant date.
• Following these transactions, Kay directly owns 699,096 shares of common stock and indirectly owns 66,000 shares through a family trust.
• Kay disclaims beneficial ownership of the shares held by the trust.

Sentiment

Score: 7

Explanation: The document reflects standard insider transactions related to stock-based compensation, which is generally viewed neutrally to positively as it aligns management's interests with shareholders. The grant of new restricted stock is a positive sign.

Positives

• The grant of 196,986 restricted stock units to the CEO aligns his interests with those of the shareholders, incentivizing long-term value creation.

Future Outlook

The restricted stock granted on March 11, 2025, vests 25% annually, commencing on the first anniversary of the grant date, suggesting a continued commitment from the CEO to the company's long-term performance.

Management Comments

• The reporting person disclaims beneficial ownership of all securities held by the trust, and this report should not be deemed an admission that the reporting person is the beneficial owner of such securities for purposes of Section 16 or for any other purpose.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders and their alignment with shareholder interests.

Comparison to Industry Standards

• Stock-based compensation is a common practice among publicly traded companies to incentivize executives.
• The vesting schedule of 25% per year is a typical arrangement for restricted stock grants.
• Companies like Newell Brands (NWL) and Helen of Troy (HELE), which operate in similar consumer products spaces, also utilize stock-based compensation as part of their executive compensation packages.

Stakeholder Impact

• The stock transactions may have a minor impact on shareholders due to the change in the number of shares held by the CEO.
• The vesting of restricted stock and subsequent tax withholding do not directly impact employees, customers, suppliers, or creditors.

Key Dates