Form 4: Linde PLC Executive VP Sean Durbin Reports Acquisition of Stock Options and Restricted Stock Units
SEC Form 4
Executive VP of Linde PLC, Sean Durbin, reports the acquisition of stock options and restricted stock units, along with holdings of ordinary shares.
Summary
- Sean Durbin, Executive VP of Linde PLC, filed a Form 4 detailing changes in beneficial ownership.
- The report indicates the acquisition of 9,510 stock options exercisable from March 7, 2025, expiring March 7, 2034, at a price of $465.29.
- Durbin also acquired 1,470 Restricted Stock Units (RSUs) vesting on March 7, 2027, 1,595 RSUs vesting on March 7, 2026, 1,430 RSUs vesting on March 7, 2025, and 1,810 RSUs vesting on March 8, 2024.
- Durbin directly owns 8,149 ordinary shares.
- He also holds various other stock options with different exercise prices and vesting schedules, as well as deferred stock units.
- The filing was signed by Anthony M. Pepper as attorney-in-fact on March 11, 2024.
- The report includes stock options with strike prices ranging from $118.17 to $465.29.
Sentiment
Score: 6
Explanation: The sentiment is neutral. It's a routine filing of executive compensation. The acquisition of stock options and RSUs is generally a positive sign, but it's expected as part of the executive's compensation.
Positives
- The acquisition of stock options and restricted stock units suggests confidence in the company's future performance from the executive.
- The vesting schedules of the RSUs and stock options incentivize long-term commitment from the executive.
Future Outlook
The report does not contain specific forward-looking statements, but the vesting schedules of the RSUs and stock options suggest a long-term incentive structure for the executive.
Industry Context
Executive compensation in the industrial gases industry often includes stock options and restricted stock units to align management's interests with those of shareholders and incentivize long-term growth.
Comparison to Industry Standards
- Comparing Linde PLC's executive compensation structure to peers like Air Products and Chemicals (APD) and Air Liquide (AI) would provide a better understanding of whether the compensation is in line with industry standards.
- Stock option grants are a common component of executive compensation packages in large, multinational corporations.
- The vesting schedules are typical for incentivizing long-term performance.
Stakeholder Impact
- The granting of stock options and RSUs aligns the executive's interests with those of shareholders, potentially driving long-term value creation.
- Employees may view executive compensation packages as a reflection of the company's overall performance and commitment to its workforce.
Key Dates
| Date | Description |
|---|---|
| 02/28/2018 | Start date for vesting of some stock options. |
| 02/27/2019 | Start date for vesting of some stock options. |
| 03/20/2020 | Start date for vesting of some stock options. |
| 03/09/2021 | Start date for vesting of some stock options. |
| 03/08/2022 | Start date for vesting of some stock options. |
| 03/07/2023 | Start date for vesting of some stock options. |
| 03/07/2024 | Date of transaction and grant of stock options and RSUs. |
| 03/08/2024 | Vesting date for 1,810 Restricted Stock Units. |
| 03/07/2025 | Vesting date for 1,430 Restricted Stock Units and start date for vesting of some stock options. |
| 03/07/2026 | Vesting date for 1,595 Restricted Stock Units. |
| 02/28/2027 | Expiration date for some stock options. |
| 03/07/2027 | Vesting date for 1,470 Restricted Stock Units. |
| 02/27/2028 | Expiration date for some stock options. |
| 03/20/2029 | Expiration date for some stock options. |
| 03/09/2030 | Expiration date for some stock options. |
| 03/08/2031 | Expiration date for some stock options. |
| 03/07/2032 | Expiration date for some stock options. |
| 02/28/2027 | Expiration date for some stock options. |
| 03/07/2033 | Expiration date for some stock options. |
| 03/07/2034 | Expiration date for some stock options. |
| 03/11/2024 | Date of filing. |
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