Form 4: Rayonier Advanced Materials Executive Joshua Hicks Reports Stock Award Vesting and Tax Withholding
SEC Form 4 Filing
Joshua Hicks, SVP at Rayonier Advanced Materials, reports the vesting of Performance Stock Units (PSUs) and subsequent tax withholding, resulting in a net increase of 40,859 shares beneficially owned.
Summary
- On March 4, 2025, Joshua Hicks, SVP of High Purity Cellulose at Rayonier Advanced Materials, reported changes in beneficial ownership of the company's stock.
- 54,013 shares of common stock were acquired through the vesting of Performance Stock Unit Awards (PSUs).
- These PSUs were granted on March 1, 2022, and July 13, 2022, with vesting contingent on total shareholder return and cumulative adjusted EBITDA performance.
- The Compensation and Management Development Committee certified the achievement of these performance criteria on March 4, 2025.
- 13,154 shares were withheld by the company to satisfy tax obligations related to the PSU vesting at a price of $7.48 per share.
- Following these transactions, Hicks directly owns 249,946 shares of Rayonier Advanced Materials stock.
Sentiment
Score: 6
Explanation: Neutral sentiment as the document primarily reports routine transactions related to executive compensation. The vesting of PSUs suggests achievement of performance targets, which is mildly positive.
Positives
- The vesting of PSUs indicates that performance targets related to shareholder return and EBITDA were met.
Industry Context
Form 4 filings are routine disclosures required by the SEC to provide transparency into the transactions of company insiders, allowing investors to track executive compensation and ownership changes.
Stakeholder Impact
- Shareholders may view the PSU vesting as a positive sign, indicating that the company is meeting its performance goals.
Key Dates
| Date | Description |
|---|---|
| 2022-03-01 | Reporting Person was granted PSUs subject to vesting based on relative and absolute total shareholder return metrics. |
| 2022-07-13 | Reporting Person was granted PSUs subject to vesting based on three-year cumulative adjusted EBITDA. |
| 2025-03-04 | Date of transaction and certification of performance criteria achievement by the Compensation and Management Development Committee. |
| 2025-03-06 | Date of signature by Attorney-in-Fact. |
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