Form 4: Modine Director Gary Bendza Awarded 1,149 Restricted Stock Units

Modine Manufacturing Co. Director Gary Mark Bendza received an award of 1,149 restricted stock units, vesting in one year.

Summary

• Gary Mark Bendza, a Director of Modine Manufacturing Co. (MOD), was awarded 1,149 shares of common stock.
• The transaction occurred on August 21, 2025.
• This award consists of restricted stock units (RSUs), where each unit represents the right to receive one share of MOD common stock.
• The shares are scheduled to vest on the one-year anniversary of the grant date.
• Following this transaction, Mr. Bendza beneficially owns 1,149 shares directly.

Sentiment

Score: 7

Explanation: The award of restricted stock units to a director is a standard compensation practice that increases insider ownership, aligning the director's interests with long-term shareholder value. It is not a significant market-moving event but generally viewed as a positive for corporate governance.

Positives

• Increases the director's direct beneficial ownership in Modine Manufacturing Co., aligning their interests with those of shareholders.
• Restricted stock unit awards are a common form of executive and director compensation, incentivizing long-term performance.

Negatives

• The award is of restricted stock units, not an open market purchase, meaning the director did not use personal capital to acquire the shares at market price.

Future Outlook

The 1,149 restricted stock units are expected to vest and convert into common stock on the one-year anniversary of the grant date, which is August 21, 2026.

Industry Context

Restricted stock unit awards are a standard component of compensation packages for directors and executives across various industries, designed to align leadership's long-term interests with shareholder value creation.

Comparison to Industry Standards

• This type of RSU award is a common practice for director compensation in publicly traded companies, comparable to similar awards granted by peers in the manufacturing sector, such as Johnson Controls or Lennox International, which often use equity-based incentives to retain and motivate key personnel.

Stakeholder Impact

• Shareholders: Increased alignment of the director's interests with shareholder value due to direct equity ownership.
• Management: Reinforces the compensation structure for leadership, potentially influencing retention and performance.

Next Steps

• Vesting of the 1,149 restricted stock units on August 21, 2026, converting into common stock.

Key Dates

Keywords

Modine Manufacturing, MOD, Restricted Stock Units, RSU, Insider Transaction, Director Compensation, Equity Award, Form 4