Form 4: NN Inc. Executive Jami Statham Reports Stock and Performance Rights Transactions
SEC Form 4 Filing
Jami Statham, SVP, General Counsel of NN Inc., reports acquisition and disposal of common stock and performance rights.
Summary
- On March 18, 2025, Jami Statham, SVP, General Counsel of NN Inc., reported transactions involving the company's securities.
- Statham acquired 38,888 shares of common stock at a price of $2.55.
- Statham disposed of 54,768 shares of common stock.
- Following these transactions, Statham beneficially owns 54,768 shares of common stock.
- Statham also acquired 77,777 performance rights, each representing a contingent right to receive one share of NN, Inc. common stock.
- The performance rights will vest based on the relative total shareholder return (TSR) of NN, Inc. compared to a custom subset of the S&P SmallCap 600 Capital Goods Index, plus the company's compensation peers not included in the Index, over the period beginning on January 1, 2025 and ending December 31, 2027.
- The actual performance rights earned may be between 25% and 150% of the target shares.
- Statham also has 109,537 performance rights that were disposed of.
- An updated power of attorney is attached to the form.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing detailing stock and performance rights transactions. It doesn't inherently convey positive or negative sentiment.
Positives
- The acquisition of performance rights aligns Statham's compensation with the company's long-term performance and shareholder value.
Future Outlook
The vesting of performance rights is contingent upon the company's TSR performance relative to its peers over a three-year period.
Industry Context
Form 4 filings are standard disclosures required by the SEC to provide transparency into the transactions of company insiders, allowing investors to monitor management's alignment with shareholder interests.
Stakeholder Impact
- The transactions provide transparency to shareholders regarding the executive's holdings and incentives.
Key Dates
| Date | Description |
|---|---|
| January 31, 2025 | Date of Power of Attorney execution by Jami Statham |
| January 1, 2025 | Start date for TSR performance measurement period for performance rights. |
| March 18, 2025 | Date of stock and performance rights transactions. |
| March 20, 2025 | Date of signature for the Form 4 filing. |
| March 18, 2026 | First vesting date for the restricted stock. |
| December 31, 2027 | End date for TSR performance measurement period for performance rights. |
Keywords
Form 4, Beneficial Ownership, Performance Rights, Stock Transactions, NN Inc, Jami Statham
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