Form 4: Mativ Holdings CEO Julie Schertell Receives Stock Grant
SEC Form 4
Mativ Holdings CEO Julie Schertell was granted 95,269 shares of common stock on April 26, 2024, under the company's 2024 Equity & Incentive Plan.
Summary
- On April 26, 2024, Julie Schertell, President and CEO of Mativ Holdings, Inc., acquired 95,269 shares of common stock.
- This acquisition was part of an annual grant of restricted stock units under the company's 2024 Equity & Incentive Plan.
- The price of the stock at the time of the transaction was $13.55 per share.
- Following the transaction, Schertell directly owns 295,981 shares of Mativ Holdings, Inc.
- The restricted stock units vest in three equal installments on February 13, 2025, February 13, 2026, and February 13, 2027.
Sentiment
Score: 7
Explanation: The sentiment is neutral to slightly positive. The stock grant is a standard practice and aligns management with shareholder interests. There are no immediate negative implications.
Positives
- The grant of restricted stock units aligns the CEO's interests with those of the shareholders, incentivizing her to improve the company's performance.
- The vesting schedule encourages long-term commitment from the CEO.
Future Outlook
The document does not contain specific forward-looking statements beyond the vesting schedule of the restricted stock units.
Industry Context
Stock grants are a common form of executive compensation used to align management's interests with those of shareholders. The size and vesting schedule of the grant are typical for a CEO of a company of Mativ's size.
Comparison to Industry Standards
- Executive compensation packages, including stock grants, are common practice among publicly traded companies like Mativ Holdings.
- Comparing the size of the grant to similar companies in the materials sector, such as Ahlstrom-Munksjo or Glatfelter, would provide a benchmark for assessing the appropriateness of the compensation.
- Vesting schedules of three years are standard in the industry to ensure long-term commitment.
Stakeholder Impact
- Shareholders may view the stock grant positively as it incentivizes the CEO to improve company performance.
- Employees may see the grant as a sign of confidence in the company's future.
Key Dates
| Date | Description |
|---|---|
| 04/26/2024 | Date of the stock grant transaction. |
| 02/13/2025 | First vesting date for one-third of the restricted stock units. |
| 02/13/2026 | Second vesting date for one-third of the restricted stock units. |
| 02/13/2027 | Final vesting date for the remaining one-third of the restricted stock units. |
| 04/30/2024 | Date of signature for the Form 4 filing. |
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