Form 4: Monro Inc. Director Thomas B. Okray Receives Restricted Stock Award

Director Thomas B. Okray of Monro, Inc. was granted 4,937 shares of restricted stock on August 13, 2024, which vest in three equal installments annually.

Summary

• Thomas B. Okray, a director of Monro, Inc., received a restricted stock award on August 13, 2024.
• The award consists of 4,937 shares of Monro, Inc. stock.
• The restricted stock vests in three equal installments, one-third on each of the three anniversaries of the grant date.
• The grant was made under the company's Amended and Restated 2007 Stock Incentive Plan.

Sentiment

Score: 7

Explanation: The document reflects a routine grant of restricted stock, which is generally viewed neutrally to positively as it aligns director interests with shareholders.

Positives

• The grant of restricted stock aligns the director's interests with those of the shareholders.
• The vesting schedule encourages long-term commitment.

Future Outlook

The document does not contain any forward-looking statements or guidance.

Industry Context

This is a standard practice for compensating board members and aligning their interests with shareholders.

Comparison to Industry Standards

• Granting restricted stock to directors is a common practice among publicly traded companies to incentivize performance and align interests with shareholders.
• The vesting schedule of one-third annually over three years is also a typical arrangement.
• Comparable companies in the automotive service industry, such as Advance Auto Parts (AAP) and O'Reilly Automotive (ORLY), often use similar equity-based compensation plans for their directors.

Stakeholder Impact

• Shareholders may view the grant positively as it aligns the director's interests with the company's long-term performance.

Key Dates