Form 4: Matthews International Director Jerry R. Whitaker Reports Share Activity

Director Jerry R. Whitaker 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, Jerry R. Whitaker, a director at Matthews International Corp, had 4,263 restricted share units vest and convert into an equal number of Class A common stock shares.
• Following this transaction, Whitaker directly owns 26,221 shares of Class A common stock.
• On March 7, 2024, Whitaker was awarded 4,668 restricted share units under the Amended and Restated 2019 Director Fee Plan.
• These newly awarded restricted share units will generally vest on March 7, 2026, and convert into an equal number of Class A common stock shares at that time.
• The number of restricted share units issued was calculated based on a price of $30.00 per share, representing the mean of the highest and lowest sales prices 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, indicating stability and alignment of interests.

Positives

• The vesting of restricted share units indicates a continued alignment of the director's interests with those of the shareholders.
• The award of additional restricted share units suggests ongoing confidence in the company's future performance.

Future Outlook

The awarded restricted share units will vest on March 7, 2026, contingent on continued service as a director.

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

• Stock-based compensation for directors is a common practice among publicly traded companies.
• Companies like Hillenbrand, Inc. (HI) and Carriage Services, Inc. (CSV) also utilize stock-based compensation for their executives and directors.
• The specific terms and amounts of these awards vary based on company size, performance, and industry standards.

Stakeholder Impact

• The vesting and awarding of restricted share units can have a minor positive impact on shareholder sentiment, as it aligns the director's interests with those of the shareholders.

Key Dates