Form 4: Ollie's Bargain Outlet SVP, General Counsel James J. Comitale Reports Stock Transactions
SEC Form 4 Filing
James J. Comitale, SVP, General Counsel of Ollie's Bargain Outlet Holdings, Inc., reports the vesting and conversion of restricted stock units into common stock, along with the associated tax liability settlement.
Summary
- On March 23, 2024, James J. Comitale converted 862 restricted stock units (RSUs) into common stock.
- On the same day, 409 shares were disposed of to cover tax obligations related to the vesting of the RSUs at a price of $78.17 per share.
- Following these transactions, Comitale directly owns 2,162 shares of common stock.
- On March 25, 2024, Comitale converted 1,085 restricted stock units (RSUs) into common stock.
- On the same day, 515 shares were disposed of to cover tax obligations related to the vesting of the RSUs at a price of $79.36 per share.
- Following these transactions, Comitale directly owns 2,732 shares of common stock.
- The reported transactions are related to the vesting of RSUs granted to Comitale, which vest in installments on the anniversary dates of the grants.
Sentiment
Score: 7
Explanation: The document reflects routine executive compensation activity. It's neutral to slightly positive as it indicates ongoing alignment of management interests with shareholders through equity ownership.
Industry Context
This filing is a routine disclosure related to executive compensation and is typical for publicly traded companies. It reflects the standard practice of granting stock-based compensation to key personnel and the subsequent tax implications.
Comparison to Industry Standards
- Stock-based compensation is a common practice among publicly traded companies to align the interests of executives with those of shareholders.
- The vesting schedules and RSU grants are typical forms of equity compensation.
- Companies like Dollar General (DG) and Big Lots (BIG) also utilize similar equity compensation plans for their executives.
Stakeholder Impact
- The transactions have a minor impact on shareholders as they involve the vesting of previously granted equity compensation.
- Employees may view this as a positive sign, indicating the company's commitment to rewarding its executives.
Key Dates
| Date | Description |
|---|---|
| 03/23/2023 | First vesting date for 3,449 RSUs granted to the reporting person, with 25% (862 RSUs) vesting on this date. |
| 03/25/2022 | First vesting date for 4,339 RSUs granted to the reporting person, with 25% (1,085 RSUs) vesting on this date. |
| 03/22/2024 | Date used to determine the fair market value ($78.17) for shares disposed of on March 23, 2024. |
| 03/23/2024 | Conversion of 862 Restricted Stock Units to common stock and disposition of 409 shares for tax obligations. |
| 03/23/2025 | Second vesting date for 3,449 RSUs granted to the reporting person, with 25% (863 RSUs) vesting on this date. |
| 03/23/2026 | Third vesting date for 3,449 RSUs granted to the reporting person, with 25% (862 RSUs) vesting on this date. |
| 03/23/2027 | Fourth vesting date for 3,449 RSUs granted to the reporting person, with 25% (862 RSUs) vesting on this date. |
| 03/25/2024 | Conversion of 1,085 Restricted Stock Units to common stock and disposition of 515 shares for tax obligations. |
| 03/25/2025 | Third vesting date for 4,339 RSUs granted to the reporting person, with 25% (1,084 RSUs) vesting on this date. |
| 03/25/2026 | Fourth vesting date for 4,339 RSUs granted to the reporting person, with 25% (1,085 RSUs) vesting on this date. |
| 03/26/2024 | Date of the report. |
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