Form 4: NETSTREIT Corp. Executive Mark Manheimer Reports Stock Transactions Following RSU Vesting
SEC Form 4 Filing
NETSTREIT Corp.'s CEO, Mark Manheimer, reports the acquisition of 30,379 shares through restricted stock unit vesting and the subsequent withholding of 12,258 shares for tax obligations.
Summary
- Mark Manheimer, CEO of NETSTREIT Corp., reported a transaction involving the vesting of 30,379 restricted stock units (RSUs) on December 23, 2024.
- These RSUs converted into common stock at a price of $0 per share.
- Following the vesting, 12,258 shares were withheld by the company to cover mandatory tax obligations at a price of $14.18 per share.
- The net effect of these transactions resulted in Mr. Manheimer holding 243,454 shares of common stock directly.
- The RSUs were part of a grant made on December 23, 2019, which vests in equal installments over five years.
Sentiment
Score: 7
Explanation: The document reflects a routine transaction related to executive compensation. There is no indication of positive or negative sentiment, it is a neutral event.
Positives
- The vesting of RSUs indicates that Mr. Manheimer has met the service requirements of his compensation plan.
- The transaction is a standard part of executive compensation and does not indicate any negative sentiment.
Industry Context
This is a routine filing related to executive compensation and is common for publicly traded companies. It does not indicate any unusual activity within the company or the industry.
Comparison to Industry Standards
- The vesting of restricted stock units is a common practice for executive compensation in publicly traded companies.
- The tax withholding process is standard and consistent with industry norms.
- The reporting of these transactions via SEC Form 4 is a regulatory requirement for all company insiders.
Stakeholder Impact
- The transaction has a minor impact on shareholders as it involves the issuance of shares from existing equity plans.
- The transaction has a positive impact on the executive as it is part of their compensation.
Key Dates
| Date | Description |
|---|---|
| 2019-12-23 | Date of the original RSU grant to Mark Manheimer. |
| 2024-07-23 | Date of the Power of Attorney document. |
| 2024-12-23 | Date of the RSU vesting and tax withholding transaction. |
| 2024-12-27 | Date of the signature on the Form 4 filing. |
Keywords
NETSTREIT Corp, Mark Manheimer, restricted stock units, RSU, stock vesting, executive compensation, Form 4, insider trading
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