Form 4: Louisiana-Pacific Corp Director, Tracy A. Embree, Reports Acquisition of Restricted Stock Units

Director Tracy A. Embree reports acquisition of restricted stock units and deferred stock units, along with a correction to previous filings.

Summary

• Tracy A. Embree, a director of Louisiana-Pacific Corp, filed a Form 4 on May 20, 2024, reporting changes in beneficial ownership.
• On May 17, 2024, Embree acquired 1,549 restricted stock units (RSUs) which will vest on May 17, 2025, and convert to deferred stock units (DSUs).
• Embree has elected to defer the receipt of common stock upon the vesting of the RSUs, and upon vesting of the RSUs, will receive deferred stock units (DSUs) under the Amended and Restated Louisiana-Pacific Corporation Non-Employee Directors Compensation Plan.
• Each DSU entitles the reporting person to receive one share of common stock upon the earlier of (i) the reporting person's separation of service as a director or (ii) a change of control of the issuer.
• The report also includes a correction to previous filings, with the total reflecting 11,336 DSUs held, including dividend equivalents.
• Embree directly owns 34,776 shares of common stock.

Sentiment

Score: 6

Explanation: The sentiment is neutral as it primarily reports routine transactions and corrections. The acquisition of RSUs could be seen as mildly positive, indicating confidence by the director.

Positives

• The acquisition of RSUs indicates confidence in the company's future performance.

Future Outlook

The reporting person will receive one share of common stock for each DSU upon separation of service as a director or a change of control of the issuer.

Industry Context

Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to investors.

Stakeholder Impact

• The report provides transparency to shareholders regarding the director's holdings.

Key Dates