Form 4: Nevro Corp CFO Roderick H. MacLeod Reports Changes in Beneficial Ownership
SEC Form 4 Filing
Chief Financial Officer Roderick H. MacLeod reports changes in beneficial ownership of Nevro Corp stock due to vesting of performance stock units and tax withholding.
Summary
- On March 4, 2024, Roderick H. MacLeod, CFO of Nevro Corp, reported changes in his beneficial ownership of the company's stock.
- 743 shares of common stock were acquired at $0 due to the vesting of Performance Stock Units (PSUs) initially granted on February 28, 2022.
- The vesting was contingent upon achieving a performance-based milestone certified by the Issuer's Compensation Committee.
- 438 shares were disposed of at $14.51 to cover tax obligations.
- Following these transactions, MacLeod directly owns 63,514 shares of Nevro Corp common stock, which includes 50,531 restricted stock units.
Sentiment
Score: 6
Explanation: The sentiment is neutral. The filing reflects routine transactions related to executive compensation and does not indicate any significant positive or negative developments for the company.
Positives
- The vesting of Performance Stock Units indicates that a performance milestone was achieved, as certified by the Issuer's Compensation Committee.
Negatives
- The disposal of 438 shares to cover tax obligations resulted in a decrease in the number of shares directly owned.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders and their holdings in the company's stock. This filing indicates the CFO's transactions related to vested stock awards.
Stakeholder Impact
- The transactions have a minor impact on shareholders as they reflect routine executive compensation adjustments.
Key Dates
| Date | Description |
|---|---|
| February 28, 2022 | Initial grant date of Performance Stock Units (PSUs) |
| March 4, 2024 | Date of transaction (acquisition and disposal of shares) |
| March 6, 2024 | Date of signature on the Form 4 filing |
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