Form 4: Northwest Natural Holding Co Executive Reports Tax Withholding on RSU Vesting
SEC Form 4 Filing
Melinda B. Rogers, VP, Chief HR & Diversity Officer at Northwest Natural Holding Co, reports the withholding of shares to cover taxes on vested restricted stock units (RSUs) and performance shares.
Summary
- Melinda B. Rogers, a VP at Northwest Natural Holding Co, filed a Form 4 on March 5, 2024, reporting changes in beneficial ownership of company stock.
- The report details the withholding of 436 common stock shares at $36.74 per share to cover taxes on the vesting of 83 restricted stock units (RSUs) with performance thresholds and 651 time-based RSUs.
- An additional 133 shares were withheld at $36.74 per share to cover taxes on the issuance of performance shares.
- Rogers directly owns 2,373.13 shares of common stock after the reported transactions and indirectly owns 6,160.785 shares through the Deferred Compensation Plan for Directors and Executives.
- The vested RSUs are part of a larger grant of 2,604 time-based RSUs initially reported on February 25, 2022.
- 1,302 time-based RSUs vest in two equal installments on March 1, 2025, and March 1, 2026.
Sentiment
Score: 5
Explanation: This is a neutral filing related to routine tax withholding on executive compensation. It doesn't indicate positive or negative sentiment.
Future Outlook
The document mentions the vesting of 1,302 time-based RSUs in two equal installments on March 1, 2025, and March 1, 2026.
Industry Context
Form 4 filings are a routine part of executive compensation and provide transparency into insider transactions. This filing indicates the vesting of previously granted equity compensation.
Key Dates
| Date | Description |
|---|---|
| 02/23/2024 | Organization and Executive Compensation Committee certification of satisfaction of the performance threshold and vesting for the 83 RSUs was reported on Form 4. |
| 02/25/2022 | Initial report of 2,604 time-based RSUs on reporting person's Form 4. |
| 03/01/2024 | Transaction date for withholding of shares to cover taxes on RSUs and performance shares. |
| 03/01/2025 | First vesting date for half of the 1,302 time-based RSUs. |
| 03/01/2026 | Second vesting date for the remaining half of the 1,302 time-based RSUs. |
| 03/05/2024 | Date of Form 4 filing. |
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.