Form 4: Prudential Financial EVP and CFO Kenneth Tanji Reports Stock Transactions
SEC Form 4 Filing
Kenneth Tanji, EVP and CFO of Prudential Financial, reports the vesting of restricted stock units and subsequent tax withholding on February 29, 2024.
Summary
- On February 29, 2024, Kenneth Tanji, the EVP and CFO of Prudential Financial, engaged in transactions involving Prudential Financial's common stock.
- These transactions included the vesting of 3,685, 2,473, and 3,268 restricted stock units, which converted into common stock.
- Following the vesting, shares were withheld to cover tax obligations, specifically 1,784 shares at $108.99 and 1,193 shares at $108.99 and 1,581 shares at $108.99.
- After these transactions, Tanji directly owns 24,067 shares of common stock and indirectly owns 51 shares through a 401(k).
- He also holds 2,473 and 6,537 restricted stock units.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing detailing stock transactions by an executive, with no inherent positive or negative sentiment.
Industry Context
Form 4 filings are standard practice for company insiders to report transactions in their company's stock, providing transparency to investors.
Comparison to Industry Standards
- Executive compensation packages often include restricted stock units that vest over time, aligning executive interests with long-term shareholder value.
- Tax withholding upon vesting of restricted stock units is a common practice.
Stakeholder Impact
- The filing provides transparency to shareholders regarding executive compensation and stock ownership.
Key Dates
| Date | Description |
|---|---|
| 02/28/2022 | Start date for 1/3 per year vesting of 2021 Restricted Stock Units |
| 02/28/2023 | Start date for 1/3 per year vesting of 2022 Restricted Stock Units |
| 02/29/2024 | Date of earliest transaction: vesting of restricted stock units and tax withholding |
| 02/29/2024 | Start date for 1/3 per year vesting of 2023 Restricted Stock Units |
| 03/04/2024 | Date of signature for the report |
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