Form 4: Director David B. Miller Reports Accrual of Dividend Equivalent Units in Murphy USA Inc.
SEC Form 4 Filing
David B. Miller, a director of Murphy USA Inc., reported the accrual of dividend equivalent units related to restricted stock units.
Summary
- On March 7, 2024, David B. Miller, a director of Murphy USA Inc., reported the accrual of dividend equivalent units (DEUs) related to previously granted restricted stock units (RSUs).
- These DEUs represent the right to receive one share of common stock for each unit, subject to the terms and conditions of the corresponding RSUs.
- The reported transactions include the accrual of 0.81 DEUs on RSUs granted on February 10, 2022, 0.328 DEUs on fully vested RSUs issued in lieu of quarterly cash retainers, and 0.453 DEUs on RSUs granted on February 14, 2024.
- Following these transactions, Miller directly owns 8.745 DEUs related to the February 10, 2022 grant, 0.328 DEUs related to the quarterly cash retainers, and 0.453 DEUs related to the February 14, 2024 grant.
Sentiment
Score: 5
Explanation: This is a neutral disclosure of routine compensation adjustments. It doesn't indicate positive or negative performance.
Industry Context
This filing is a routine disclosure related to director compensation and equity ownership, common in publicly traded companies. It reflects ongoing accrual of dividend equivalents on previously granted equity awards.
Stakeholder Impact
- The accrual of dividend equivalent units has a minor dilutive effect on existing shareholders.
Key Dates
| Date | Description |
|---|---|
| 02/10/2022 | Date of grant for some of the restricted stock units on which dividend equivalent units accrued. |
| 02/14/2024 | Date of grant for some of the restricted stock units on which dividend equivalent units accrued. |
| 03/07/2024 | Date of the transaction (accrual of dividend equivalent units). |
| 03/11/2024 | Date of signature on the Form 4 filing. |
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