Form 4: RE/MAX Holdings VP Leah R. Jenkins Reports Stock Grants and Tax Withholding

Leah R. Jenkins, VP and Chief Accounting Officer of RE/MAX Holdings, reported the grant of performance-based and time-based restricted stock units (RSUs) and the withholding of shares for tax obligations.

Summary

• On March 1, 2024, Leah R. Jenkins, VP, CHIEF ACCOUNTING OFFICER of RE/MAX Holdings, Inc., was granted 10,525 performance-based restricted stock units (RSUs) under the 2023 Omnibus Incentive Plan.
• These RSUs will vest, if at all, following a performance period from January 1, 2024, through December 31, 2026, with the actual number vesting ranging from 0-200% of the target amount.
• Additionally, Ms. Jenkins received 10,525 time-based RSUs, also on March 1, 2024, which will vest in three equal annual installments starting March 1, 2025.
• The report also indicates that 1,032 shares of Class A common stock were withheld by RE/MAX Holdings to satisfy tax obligations related to the issuance of Class A common stock in settlement of RSUs on March 1, 2024.
• Following these transactions, Ms. Jenkins beneficially owns 29,015 shares of Class A Common Stock, which includes 25,333 unvested RSUs.

Sentiment

Score: 6

Explanation: The document is neutral in sentiment as it reports routine stock grants and tax withholding. It doesn't contain information that would significantly impact investor sentiment positively or negatively.

Positives

• The grant of RSUs aligns Ms. Jenkins' interests with the long-term performance of RE/MAX Holdings.
• Time-based vesting encourages continued service with the company.

Risks

• The value of the RSUs is subject to the performance of RE/MAX Holdings' stock price.
• The performance-based RSUs may not vest fully if performance targets are not met.

Future Outlook

The vesting of the RSUs is contingent upon continued service and, for the performance-based RSUs, the achievement of specific performance goals over the period from January 1, 2024, to December 31, 2026.

Industry Context

This filing is a routine disclosure of equity compensation to a company executive, common in publicly traded companies to align management interests with shareholder value.

Comparison to Industry Standards

• Equity compensation is a standard practice among publicly traded companies like RE/MAX Holdings to incentivize executives.
• Companies such as Compass, eXp World Holdings, and Anywhere Real Estate also utilize stock options and RSUs as part of their compensation packages.
• The vesting schedules and performance metrics associated with these grants are typically aligned with industry benchmarks for executive compensation.

Stakeholder Impact

• The RSU grants incentivize the VP, CHIEF ACCOUNTING OFFICER to contribute to the company's success, potentially benefiting shareholders.
• Tax withholding impacts the executive's net compensation.

Key Dates