OGN.NYSEOrganon & CO

Form 4: Organon & Co. Executive Joseph T. Morrissey, Jr. Reports Stock Transactions

Sentiment:

SEC Form 4 Filing

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Joseph T. Morrissey, Jr., Head of Manufacturing at Organon & Co., reports the vesting and conversion of restricted stock units into common stock, along with associated tax withholding dispositions.

Summary

  • On March 31, 2024, Joseph T. Morrissey, Jr., Head of Manufacturing at Organon & Co., engaged in transactions involving Organon's common stock and restricted stock units (RSUs).
  • Morrissey converted 3,936 RSUs into common stock and disposed of 1,712 shares to cover tax obligations at a price of $18.8 per share.
  • Additionally, he converted 7,794 RSUs into common stock and disposed of 2,328 shares for tax purposes at the same price of $18.8 per share.
  • Following these transactions, Morrissey directly owns 38,802 shares of Organon common stock and 15,590 restricted stock units.

Sentiment

Score: 5

Explanation: This is a neutral disclosure of stock transactions related to executive compensation. It doesn't inherently indicate positive or negative sentiment about the company's performance.

Industry Context

This filing is a routine disclosure of insider transactions, which are common for executives who receive stock-based compensation. It provides transparency into the trading activities of company insiders.

Stakeholder Impact

  • The transactions have a minimal impact on shareholders as they are related to executive compensation and tax obligations.

Key Dates

DateDescription
03/31/2023One-third of the initially granted RSUs vested.
03/31/2024Transactions involving common stock and restricted stock units occurred; one-third of some RSUs vested.
03/31/2025Remaining RSUs from the first grant to vest; some RSUs from the second grant will vest.
03/31/2026Final vesting date for some of the RSUs.
04/03/2024Date of the report filing.

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