Form 4: Mativ Holdings Executive Andrew Downard Reports Stock Transactions and Corrects Previous Filings

Andrew Downard, Chief Supply Chain Officer of Mativ Holdings, reports stock transactions including RSU vesting and settlement, and corrects previously overstated share ownership due to reporting errors.

Summary

• Andrew Downard, Chief Supply Chain Officer of Mativ Holdings, filed a Form 4 detailing changes in beneficial ownership.
• The report includes the vesting and settlement of Restricted Stock Units (RSUs).
• Downard was granted 3,600 RSUs on January 30, 2024, vesting in three equal annual installments starting February 16, 2024.
• 1,200 RSUs vested on February 16, 2024, and another 1,200 on February 16, 2025.
• The report also corrects previous filings where the number of shares of common stock owned was overstated by 18,083 shares.
• This overstatement was due to RSUs being incorrectly reported in Table I instead of Table II and a clerical error in recording an acquisition of 15,683 RSUs instead of 12,546 RSUs.
• Downard also acquired 12,546 restricted stock units on April 26, 2024, vesting in three equal annual installments beginning on February 13, 2025.
• 4,182 RSUs vested on February 13, 2025.
• Shares were withheld to satisfy tax obligations upon the vesting of RSUs.

Sentiment

Score: 6

Explanation: The sentiment is neutral as the document primarily reports routine stock transactions and corrects previous errors. There are no significant positive or negative implications for the company's financial health.

Negatives

• Previous filings contained errors, overstating share ownership by 18,083 shares.

Risks

• Continued scrutiny of executive stock transactions and potential for further reporting errors.

Future Outlook

The remaining RSUs will continue to vest in subsequent years according to the vesting schedules outlined in the report.

Industry Context

Form 4 filings are a routine part of regulatory compliance for publicly traded companies, providing transparency into the trading activities of company insiders.

Stakeholder Impact

• Shareholders are informed about executive stock transactions, promoting transparency.

Key Dates