Form 4: RE/MAX Holdings EVP Susan Winders Reports Changes in Beneficial Ownership

Susan Winders, EVP and General Counsel of RE/MAX Holdings, reports acquisition and disposal of Class A Common Stock and grants of Restricted Stock Units (RSUs).

Summary

• On March 1, 2024, Susan Winders, EVP and General Counsel of RE/MAX Holdings, reported changes in her beneficial ownership of the company's stock.
• She was granted 34,850 performance-based RSUs under the 2023 Omnibus Incentive Plan, which will vest based on performance between January 1, 2024, and December 31, 2026; the actual number of RSUs vesting can range from 0-200% of the target amount.
• Winders also received 34,850 time-based RSUs that vest in three equal annual installments starting March 1, 2025.
• An additional 365 RSUs were granted, representing an incremental amount above a previously reported target from 2021.
• 2,109 shares of Class A common stock were withheld by RE/MAX to cover tax obligations related to the settlement of RSUs on March 1, 2024.
• Following these transactions, Winders beneficially owns 112,550 shares of Class A Common Stock, including 90,928 unvested time-based RSUs and 56,078 unvested RSUs.

Sentiment

Score: 6

Explanation: The sentiment is neutral as it reports routine transactions related to executive compensation. There are no explicit positive or negative implications for the company's financial health or future prospects.

Positives

• The grant of RSUs aligns the executive's interests with the company's performance and long-term growth.

Risks

• The vesting of performance-based RSUs is contingent on the company's performance over the specified period, introducing uncertainty.

Future Outlook

The number of performance-based RSUs that will ultimately vest depends on the company's performance between January 1, 2024, and December 31, 2026.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders and their alignment with shareholder interests. This filing indicates ongoing equity-based compensation practices at RE/MAX Holdings.

Comparison to Industry Standards

• Equity compensation in the form of RSUs is a common practice among publicly traded companies to incentivize executives.
• The vesting schedules and performance metrics associated with these grants are typically aligned with industry benchmarks and company-specific goals.
• Comparing RE/MAX's equity compensation plans with those of competitors like Anywhere Real Estate (HOUS) or Compass (COMP) would provide further context.

Stakeholder Impact

• The RSU grants align management's interests with those of shareholders, potentially driving long-term value creation.
• Employees may be indirectly affected by the company's performance, which influences the vesting of performance-based RSUs.

Key Dates