Form 4: Mattel Director Noreena Hertz Reports Acquisition of Restricted Stock Units

Noreena Hertz, a director at Mattel Inc., reported the acquisition of 9,972 Restricted Stock Units (RSUs) on May 29, 2024, which are fully vested and will be settled in common stock on the third anniversary of the grant date.

Summary

• On May 29, 2024, Noreena Hertz, a director of Mattel Inc., acquired 9,972 Restricted Stock Units (RSUs).
• The RSUs were granted under the Mattel, Inc. Amended and Restated 2010 Equity and Long-Term Compensation Plan, as amended.
• Each RSU represents a contingent right to receive one share of Mattel, Inc. Common Stock and includes dividend equivalent rights.
• The RSUs are fully vested on the grant date.
• Settlement of the vested RSUs, resulting in the distribution of Mattel, Inc. Common Stock, is scheduled for the third anniversary of the grant date.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive as it reflects standard equity compensation practices. It indicates confidence in the director's alignment with the company's long-term performance.

Positives

• The RSUs are fully vested on the date of grant, providing immediate benefit to the director.
• The RSUs include dividend equivalent rights, enhancing their value.

Future Outlook

The vested RSUs will be settled on the third anniversary of the grant date, resulting in the distribution of Mattel, Inc. Common Stock to Noreena Hertz.

Industry Context

This filing is a routine disclosure of equity compensation to a company director, which is a common practice in publicly traded companies to align the interests of directors with those of shareholders.

Comparison to Industry Standards

• Equity compensation for board members is a standard practice across the toy and entertainment industry.
• Companies like Hasbro and Jakks Pacific also utilize stock options and restricted stock units as part of their director compensation packages.
• The specific number of RSUs granted would need to be compared against industry benchmarks for director compensation to determine if it is within the typical range.

Stakeholder Impact

• The grant of RSUs aligns the director's interests with those of shareholders, potentially encouraging decisions that benefit the company's long-term performance.
• The impact on employees and other stakeholders is indirect, as it relates to overall corporate governance and executive compensation.

Next Steps

• Settlement of the vested RSUs will occur on the third anniversary of the grant date, resulting in the distribution of Mattel, Inc. Common Stock.

Key Dates