Form 4: Mativ Holdings Executive Ryan Elwart Corrects Previous Filing, Reports RSU Vesting and Tax Withholding
SEC Filing
Ryan Michael Elwart, Group President, SAS at Mativ Holdings, Inc., filed an amended Form 4 to correct a previous overstatement of common stock holdings and report the vesting of restricted stock units (RSUs) and associated tax withholding.
Summary
- Ryan Michael Elwart, a Group President at Mativ Holdings, filed a Form 4 to report changes in beneficial ownership.
- The filing corrects an overstatement of common stock holdings reported on April 30, 2024.
- On April 26, 2024, Elwart was granted 22,140 restricted stock units (RSUs) that vest in three equal annual installments beginning February 13, 2025.
- Another grant of 22,140 RSUs on April 26, 2024, vests in two equal annual installments beginning April 26, 2025.
- 7,380 RSUs vested on February 13, 2025.
- 2,613 shares were withheld to satisfy tax obligations upon the vesting of the RSUs at a price of $8.79.
- Following these transactions, Elwart directly owns 4,767 shares of common stock and 14,760 RSUs that vest on February 13, 2025, and 22,140 RSUs that vest on April 26, 2025.
Sentiment
Score: 7
Explanation: The document is neutral, reporting routine transactions and correcting a previous error. The vesting of RSUs is generally a positive sign, aligning executive interests with shareholders.
Positives
- The filing provides transparency regarding executive compensation and ownership.
- The vesting of RSUs aligns executive interests with shareholder value.
Negatives
- The need to correct a previous filing indicates a prior error in reporting.
Risks
- None apparent in this document.
Industry Context
Form 4 filings are a standard part of regulatory compliance for corporate insiders and provide transparency to the market regarding their transactions in company stock.
Stakeholder Impact
- Shareholders benefit from the transparency provided by the Form 4 filing.
- The vesting of RSUs incentivizes the executive to improve company performance.
Key Dates
| Date | Description |
|---|---|
| 04/26/2024 | Grant date of 22,140 RSUs vesting in three annual installments and 22,140 RSUs vesting in two annual installments. |
| 04/30/2024 | Date of the original Form 4 filing that contained errors. |
| 02/13/2025 | Vesting date of 7,380 RSUs. |
| 03/14/2025 | Date of the corrected Form 4 filing. |
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