Form 4: Mativ Holdings Executive Corrects Previous SEC Filings, Reports RSU Vesting and Tax Withholding

Mark W. Johnson, CLO and Corporate Secretary of Mativ Holdings, files Form 4 to report RSU vesting, cash settlement, tax withholding, and corrections to previously overstated common stock holdings.

Summary

• Mark W. Johnson, CLO and Corporate Secretary of Mativ Holdings, filed a Form 4 detailing changes in beneficial ownership.
• The report includes the vesting of 6,443 Restricted Stock Units (RSUs) on September 1, 2024, and 6,888 RSUs on February 13, 2025.
• The vested RSUs were settled for cash at a price of $18.96 per share.
• Shares were withheld to satisfy tax obligations arising from the vesting of the RSUs.
• The filing also corrects an overstatement of common stock holdings in previous filings from September 22, 2023, and April 30, 2024, due to RSUs being incorrectly reported in Table I instead of Table II.
• Johnson was granted 19,330 RSUs on September 20, 2023, vesting in three equal annual installments starting September 1, 2024.
• He was also granted 20,664 RSUs on April 26, 2024, vesting in three equal annual installments starting February 13, 2025.

Sentiment

Score: 6

Explanation: The sentiment is neutral. The filing primarily reports routine vesting of RSUs and a correction of previous errors. There's no indication of significant positive or negative implications for the company.

Positives

• The executive is receiving and vesting RSUs, which aligns his interests with the company's performance.

Negatives

• Previous filings contained errors, requiring correction.

Industry Context

Form 4 filings are standard practice and provide transparency into the transactions of company insiders, allowing investors to track ownership changes and potential alignment of interests.

Stakeholder Impact

• Shareholders may be interested in the executive's ownership stake and alignment with company performance.

Key Dates