Form 4: Reading International Inc. Director Ellen M. Cotter Acquires Shares Through Vesting of Restricted Stock Units
SEC Form 4
Ellen M. Cotter, a director, President, and CEO of Reading International Inc., acquired 12,837 shares of Class A Non-voting Common Stock through the vesting of restricted stock units on March 11, 2024.
Summary
- On March 11, 2024, Ellen M. Cotter, a Director, President, and CEO of Reading International Inc., acquired 12,837 shares of Class A Non-voting Common Stock.
- This acquisition resulted from the vesting of restricted stock units (RSUs).
- The vested RSUs are part of a grant of 102,698 RSUs made on March 10, 2020, under the company's 2010 Stock Incentive Plan.
- The reporting person now beneficially owns 882,393 shares of Class A Non-voting Common Stock.
- The underlying shares of Class A Common Stock will be delivered to the reporting person in accordance with their irrevocable deferral election.
Sentiment
Score: 6
Explanation: The sentiment is neutral. It's a standard transaction related to executive compensation. The vesting of RSUs is a positive sign, but it's an expected event.
Positives
- The vesting of RSUs indicates that Ellen M. Cotter has met certain performance or service requirements, aligning her interests with those of the shareholders.
- The acquisition of shares increases her stake in the company, potentially further aligning her interests with the company's success.
Industry Context
This filing is a routine disclosure related to executive compensation and stock ownership, common in publicly traded companies. It provides transparency regarding the alignment of management's interests with shareholders'.
Stakeholder Impact
- The vesting of RSUs and subsequent acquisition of shares by a key executive can be viewed positively by shareholders as it aligns management's interests with the company's performance.
Key Dates
| Date | Description |
|---|---|
| 2020-03-10 | Date of grant for 102,698 restricted stock units under the Company's 2010 Stock Incentive Plan. |
| 2021-03-10 | Commencement date for annual vesting installments of 51,349 restricted stock units. |
| 2022-03-09 | Committee determined and certified that the reporting person met 100% of the PRSU Criteria for the year ended December 31, 2021. |
| 2023-03-09 | Committee determined and certified that the reporting person met 15% of PRSU criteria for the year ended December 31, 2022. |
| 2023-03-10 | Third anniversary of the Date of Grant, performance based restricted stock units (PRSU) vest. |
| 2024-03-11 | Date of transaction: Vesting of 12,837 restricted stock units. |
| 2024-03-11 | Final vesting date for the 51,349 restricted stock units vesting in four equal annual installments. |
| 2024-03-13 | Date of Form 4 filing. |
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