Form 4: Louisiana-Pacific Corp Director Grasberger Receives Stock Units, Elects Deferral
SEC Form 4 Filing
Director F. Nicholas Grasberger III received restricted stock units from Louisiana-Pacific Corporation and elected to defer receipt of common stock upon vesting.
Summary
- F. Nicholas Grasberger III, a director of Louisiana-Pacific Corporation, reported changes in beneficial ownership.
- On May 17, 2024, Grasberger acquired 1,549 shares of common stock in the form of restricted stock units (RSUs) granted under the company's 2022 Omnibus Stock Award Plan.
- These RSUs will vest on May 17, 2025.
- Grasberger has elected to defer the receipt of common stock upon vesting, and will instead receive deferred stock units (DSUs) under the Amended and Restated Louisiana-Pacific Corporation Non-Employee Directors Compensation Plan.
- Each DSU entitles Grasberger to receive one share of common stock upon the earliest of his separation of service as a director, a change of control of the issuer, or January 1, 2028.
- Following the transaction, Grasberger beneficially owns 17,362 shares of Louisiana-Pacific Corporation common stock, which includes 33 shares credited as dividend equivalents.
Sentiment
Score: 7
Explanation: The document reflects standard executive compensation practices and insider transactions, which are generally neutral to slightly positive as they align director interests with shareholder value.
Future Outlook
The reporting person will receive deferred stock units (DSUs) under the Amended and Restated Louisiana-Pacific Corporation Non-Employee Directors Compensation Plan, which will be converted to common stock upon the earliest of (i) the reporting person's separation of service as a director, (ii) a change of control of the issuer, or (iii) January 1, 2028.
Industry Context
This filing is a routine disclosure related to director compensation and stock ownership, common in publicly traded companies.
Stakeholder Impact
- The transaction has a minor positive impact on shareholders as it aligns the director's interests with the company's long-term performance.
Key Dates
| Date | Description |
|---|---|
| February 8, 2024 | Date of Power of Attorney |
| May 17, 2024 | Date of transaction: Grant of restricted stock units |
| May 17, 2025 | Vesting date of restricted stock units |
| January 1, 2028 | Distribution date specified by the reporting person for deferred stock units |
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