Form 4: Logility Executive McInturff Reports Cancellation and Conversion of Stock Options
SEC Form 4
Kevin Lee McInturff, Chief Technology Officer of Logility Supply Chain Solutions, Inc., reports the cancellation and conversion of stock options following a specific event.
Summary
- Kevin Lee McInturff, the Chief Technology Officer of Logility Supply Chain Solutions, Inc., filed a Form 4 detailing changes in beneficial ownership.
- The report indicates the cancellation of stock options with an exercise price at or above $14.30 per share for no consideration.
- Stock options with an exercise price below $14.30 were cancelled and converted into the right to receive a cash payment.
- The cash payment is calculated by multiplying the number of shares subject to the option by the difference between $14.30 and the option's exercise price, subject to tax withholding.
- The transactions occurred on April 4, 2025.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing executive compensation adjustments, with no inherent positive or negative sentiment.
Industry Context
Executive compensation structures, including stock options, are common in the technology industry to incentivize performance and align management interests with shareholder value.
Comparison to Industry Standards
- Stock option plans are a standard component of compensation packages for technology company executives, similar to those offered by companies like Oracle, SAP, and Blue Yonder.
- The specific terms of option grants, such as vesting schedules and exercise prices, vary widely based on company size, performance, and industry benchmarks.
- Mergers and acquisitions often trigger changes to outstanding stock options, as seen in this case, with specific clauses determining the treatment of options based on the deal terms.
Stakeholder Impact
- Shareholders may be interested in the details of executive compensation and how it aligns with company performance.
- Employees holding stock options may be affected by the cancellation or conversion of their options, depending on the terms of the underlying agreement.
Key Dates
| Date | Description |
|---|---|
| 04/04/2025 | Date of transaction (cancellation/conversion of stock options) |
| 08/18/2027 | Expiration date of stock options with exercise price of $22 |
| 05/03/2028 | Expiration date of stock options with exercise price of $16.82 |
| 09/03/2026 | Expiration date of stock options with exercise price of $13.82 |
| 05/31/2029 | Expiration date of stock options with exercise price of $12.73 |
| 08/29/2030 | Expiration date of stock options with exercise price of $11.29 |
Keywords
Form 4, Stock Options, Beneficial Ownership, Logility, McInturff, Executive Compensation
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