Form 4: Organon & Co. Director Carrie Smith Cox Reports Acquisition of Phantom Stock

Director Carrie Smith Cox reports acquiring phantom stock units in Organon & Co. through the company's Non-Employee Director Savings Plan.

Summary

• Carrie Smith Cox, a director at Organon & Co., filed a Form 4 disclosing changes in beneficial ownership.
• On June 7, 2024, Cox acquired 9,638.554 phantom stock units under the Organon Non-Employee Director Savings Plan.
• These phantom stock units are economically equivalent to shares of Organon common stock on a 1-for-1 basis.
• The price of the phantom stock was $20.75.
• The phantom stock units are payable in cash upon settlement after Cox's termination of service as a director.
• Following the reported transaction, Cox beneficially owns 47,059.859 phantom stock units.
• Holdings include phantom stock acquired in dividend reinvestment transactions on June 15, 2023, September 14, 2023, December 14, 2023 and March 14, 2024.

Sentiment

Score: 6

Explanation: The document is a neutral regulatory filing. The acquisition of phantom stock by a director is generally viewed as a positive sign, but the document itself is simply a report of the transaction.

Positives

• The acquisition of phantom stock units by a director signals confidence in the company's future performance.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders.

Stakeholder Impact

• The acquisition of phantom stock by a director could have a slightly positive impact on shareholder sentiment.

Key Dates