Form 4: Rayonier Advanced Materials Executive Reports Stock Transactions Following PSU Vesting
SEC Filing
Kenneth James Duffy, SVP at Rayonier Advanced Materials, reports acquisition and disposal of company stock related to the vesting of Performance Stock Unit Awards.
Summary
- Kenneth James Duffy, a Senior Vice President at Rayonier Advanced Materials, filed a Form 4 detailing changes in beneficial ownership of the company's stock.
- On March 4, 2025, Duffy acquired 10,458 shares of common stock upon the vesting of Performance Stock Unit Awards (PSUs).
- These PSUs were granted in 2022 and vested based on the achievement of performance criteria related to total shareholder return, share price performance, and three-year cumulative adjusted EBITDA.
- Also on March 4, 2025, 5,544 shares were withheld by the company to satisfy tax withholding requirements related to the PSU vesting at a price of $7.48.
- Following these transactions, Duffy directly owns 20,746 shares of Rayonier Advanced Materials stock.
Sentiment
Score: 6
Explanation: The document itself is neutral, simply reporting transactions. The vesting of PSUs suggests that performance targets were met, which is mildly positive.
Positives
- The vesting of PSUs indicates that performance targets related to shareholder return, share price, and EBITDA were met, which is a positive signal.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the trading activities of company insiders. The vesting of PSUs is a common form of executive compensation tied to company performance.
Stakeholder Impact
- The vesting of PSUs and subsequent stock transactions have a minor impact on shareholders by slightly increasing the number of shares outstanding.
- The tax withholding impacts the executive's net compensation.
Key Dates
| Date | Description |
|---|---|
| 2022-03-01 | Reporting Person was granted PSUs subject to vesting based on relative and absolute total shareholder return metrics and share price performance. |
| 2022-07-13 | Reporting Person was granted PSUs subject to vesting based on three-year cumulative adjusted EBITDA. |
| 2025-03-04 | Date of transaction: acquisition of shares from PSU vesting and disposal of shares for tax withholding. |
| 2025-03-06 | Date of signature on the Form 4 filing. |
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