Form 4: Matthews International Corp Director Katherine Elizabeth Dietze Reports Share Transactions

Director Katherine Elizabeth Dietze reports the vesting and conversion of restricted share units into Class A common stock, along with the award of additional restricted share units.

Summary

• On March 10, 2024, Katherine Elizabeth Dietze, a director of Matthews International Corp, had 4,263 restricted share units vest and convert into an equal number of Class A common stock shares.
• The price per share at the time of conversion was $0.
• Following the transaction, Ms. Dietze directly owns 40,658 shares of Class A common stock.
• On March 7, 2024, Ms. Dietze was also awarded 4,668 restricted share units under the Amended and Restated 2019 Director Fee Plan.
• These units will generally vest on March 7, 2026, and convert into an equal number of Class A common stock shares.
• The value of the restricted share units was calculated based on $30.00, the mean of the highest and lowest sales prices per share of the company's Class A common stock on the Nasdaq Exchange on the date of issuance.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. The transactions are routine and expected as part of director compensation. The increase in share ownership aligns the director's interests with shareholders.

Positives

• The vesting of restricted share units indicates continued alignment of director interests with shareholder value.

Future Outlook

The awarded restricted share units will vest on March 7, 2026, converting into Class A common stock at that time.

Industry Context

Executive compensation through stock and restricted share units is a common practice in publicly traded companies to align management's interests with those of shareholders.

Comparison to Industry Standards

• Director compensation packages, including restricted share units, are common across publicly traded companies.
• The vesting schedules and valuation methods described are typical for such awards.
• Companies like Hillenbrand, Inc. (HI) and Stern Group, Inc. (STG) also utilize similar equity-based compensation for their directors.

Stakeholder Impact

• The vesting and award of restricted share units have a minor dilutive effect on existing shareholders.
• The transactions align the director's interests with those of shareholders, potentially encouraging decisions that increase shareholder value.

Key Dates