Form 4: Northwest Natural Holding Co: VP Karney Reports Tax Withholding on RSU Vesting
SEC Form 4 Filing
Joseph S. Karney, VP of Engineering & Utility Operations at Northwest Natural Holding Co, reports the withholding of shares to cover taxes on vested restricted stock units (RSUs).
Summary
- On March 1, 2024, Joseph S. Karney, VP of Engineering & Utility Operations at Northwest Natural Holding Co, had 152 shares of common stock withheld by the issuer to cover withholding taxes.
- This was due to the vesting of 164 restricted stock units (RSUs) with a performance threshold and the vesting of 108 time-based RSUs.
- The price per share for the tax withholding was $36.74.
- Following the transaction, Karney directly owns 2,206.6568 shares of common stock.
- He also indirectly owns 112.535 shares through the Deferred Compensation Plan and 219.39 shares through the Retirement K Savings Plan.
Sentiment
Score: 5
Explanation: This is a routine regulatory filing related to executive compensation, and has a neutral sentiment.
Future Outlook
The reporting person will continue to vest in time-based RSUs in future installments, as outlined in the explanation of responses.
Industry Context
Form 4 filings are a routine part of executive compensation and provide transparency into the holdings and transactions of company insiders.
Stakeholder Impact
- The transaction has a minimal direct impact on stakeholders, as it primarily concerns the executive's compensation and tax obligations.
Key Dates
| Date | Description |
|---|---|
| 03/01/2024 | Date of transaction: Shares withheld for tax purposes due to RSU vesting. |
| 03/01/2024 | Vesting date for 12 time-based RSUs under the Long Term Incentive Plan, which will be deferred. |
| 02/23/2024 | Organization and Executive Compensation Committee certification of the satisfaction of the performance threshold and vesting for 164 RSUs was reported on Form 4. |
| 02/15/2024 | Shares held in reporting person's account under Northwest Natural Gas Company's Retirement K Savings Plan. |
| 03/05/2024 | Date of Form 4 filing. |
| 03/01/2025 | Vesting date for 108 time-based RSUs under the Long Term Incentive Plan. |
| 03/01/2025 | Vesting date for 12 time-based RSUs under the Long Term Incentive Plan, which will be deferred. |
| 03/01/2026 | Vesting date for 54 time-based RSUs under the Long Term Incentive Plan. |
| 03/01/2026 | Vesting date for 6 time-based RSUs under the Long Term Incentive Plan, which will be deferred. |
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