Form 4: Orion Energy Systems Director Richard A. Shapiro Receives Stock Grant

Director Richard A. Shapiro received a grant of restricted stock from Orion Energy Systems, vesting in installments over three years.

Summary

• Richard A. Shapiro, a director of Orion Energy Systems, Inc., filed a Form 4 on June 12, 2024, reporting a transaction.
• On June 11, 2024, Shapiro acquired 27,523 shares of common stock through a restricted stock grant under the company's 2016 Omnibus Incentive Plan.
• These shares were granted at a price of $0.
• The restricted stock vests in three equal installments on June 11 of 2025, 2026, and 2027.
• Following the transaction, Shapiro beneficially owns 46,878 shares of Orion Energy Systems common stock.

Sentiment

Score: 7

Explanation: The sentiment is neutral to positive. The stock grant suggests confidence in the company's future, but it's a routine transaction.

Positives

• The grant of restricted stock aligns the director's interests with those of the shareholders, incentivizing long-term value creation.

Future Outlook

The vesting schedule of the restricted stock indicates a multi-year commitment by the director to the company's success.

Industry Context

Stock grants are a common form of executive compensation in the energy and technology sectors, aligning management interests with shareholder value.

Comparison to Industry Standards

• Stock grants are a typical component of executive compensation packages in publicly traded companies, particularly in growth-oriented sectors like energy and technology.
• Companies like Acuity Brands and Cree Lighting also utilize stock-based compensation to incentivize their leadership teams.
• The vesting schedule of three years is fairly standard, aligning with typical performance evaluation cycles.

Stakeholder Impact

• Shareholders may view the stock grant positively as it aligns the director's interests with the company's long-term performance.

Key Dates