Form 4: Pathward Financial EVP Ingram Reports Stock Transactions Following PSU Vesting
SEC Form 4 Filing
Charles C. Ingram, EVP and Chief Information Officer of Pathward Financial, reports acquisition of 2,524 shares and disposal of 666 shares to cover tax obligations following the vesting of performance share units.
Summary
- Charles C. Ingram, an EVP and Chief Information Officer at Pathward Financial, reported transactions involving the company's common stock on November 7, 2024.
- Ingram acquired 2,524 shares of common stock upon the vesting of performance share units (PSUs) granted on November 2, 2021.
- These PSUs vested based on the company's performance over the three-fiscal year period from October 1, 2021, to September 30, 2024, as determined by the Compensation Committee.
- To cover tax withholding obligations related to the vesting of the PSUs, Ingram disposed of 666 shares of common stock.
- Following these transactions, Ingram beneficially owns 23,089 shares of Pathward Financial common stock.
Sentiment
Score: 6
Explanation: The document is a routine regulatory filing detailing stock transactions related to executive compensation. It doesn't contain information that would significantly sway investor sentiment positively or negatively.
Positives
- The vesting of performance share units indicates that Pathward Financial met certain performance criteria set by the Compensation Committee over the three-year period.
Industry Context
Form 4 filings are a routine part of insider trading regulations, providing transparency into the transactions of company executives and directors. This filing indicates standard compensation practices involving performance-based equity awards.
Stakeholder Impact
- The vesting of PSUs aligns executive compensation with company performance, potentially benefiting shareholders.
Key Dates
| Date | Description |
|---|---|
| 10/01/2021 | Start date of the three-fiscal year performance period for the PSUs. |
| 11/02/2021 | Date the performance share units (PSUs) were granted. |
| 09/30/2024 | End date of the three-fiscal year performance period for the PSUs. |
| 11/07/2024 | Date of the stock transactions (acquisition and disposal) related to the PSU vesting. |
| 11/12/2024 | Date of the Form 4 filing. |
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