Form 4: Reading International Inc. Director Ellen M. Cotter Reports Vesting of Restricted Stock Units
SEC Form 4
Ellen M. Cotter, a Director, President, and CEO of Reading International Inc., reported the vesting of 32,454 Class A Non-Voting Common Stock restricted stock units on April 24, 2025.
Summary
- On April 28, 2025, Ellen M. Cotter, Director, President, and CEO of Reading International Inc., filed a Form 4 with the SEC.
- The filing reports the vesting of 32,454 restricted stock units on April 24, 2025, which convert to Class A Non-Voting Common Stock.
- Following the transaction, Cotter directly owns 1,008,957 shares of Class A Non-voting Common Stock.
- Cotter also directly owns 11,990 restricted stock units.
- The restricted stock units were granted on April 18, 2022, under the company's 2020 Stock Incentive Plan.
- The vesting schedule for the initial grant of 95,923 restricted stock units included both time-based and performance-based components.
- The Committee determined that the reporting person met 99% of PRSU criteria for the year ended December 31, 2024.
- 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 routine filing related to executive compensation. The vesting of stock units suggests performance targets were met, which is mildly positive, but it's not a major event.
Positives
- The vesting of restricted stock units indicates that performance criteria were met, suggesting positive performance by the reporting person and potentially the company.
- Ellen Cotter's increased stake in the company could align her interests further with those of shareholders.
Industry Context
Form 4 filings are standard disclosures required by the SEC to provide transparency into the transactions of company insiders. This filing indicates the vesting of restricted stock units, a common form of executive compensation.
Stakeholder Impact
- The vesting of restricted stock units could have a minor dilutive effect on existing shareholders.
- The vesting of stock units aligns the executive's interests with those of the shareholders.
Key Dates
| Date | Description |
|---|---|
| 04/18/2022 | Date of grant for 95,923 restricted stock units under the 2020 Stock Incentive Plan. |
| 04/18/2023 | Commencement of annual vesting installments for 47,962 restricted stock units. |
| 03/09/2023 | Committee determined and certified that the reporting person met 15% of PRSU criteria for the year ended December 31, 2022. |
| 04/18/2024 | Second annual vesting installment for 47,962 restricted stock units. |
| 04/05/2024 | Committee determined and certified that the reporting person met 89% of PRSU criteria for the year ended December 31, 2023. |
| 04/24/2025 | Date of transaction: Vesting of 32,454 restricted stock units and Committee determined and certified that the reporting person met 99% of PRSU criteria for the year ended December 31, 2024. |
| 04/18/2025 | Third annual vesting installment for 47,962 restricted stock units and vesting of 47,961 performance-based restricted stock units (PRSU). |
| 04/18/2026 | Final annual vesting installment for 47,962 restricted stock units. |
| 04/28/2025 | Date of filing the Form 4. |
Keywords
Form 4, Beneficial Ownership, Restricted Stock Units, Reading International Inc, Ellen M. Cotter, Vesting, RDI, Class A Non-Voting Common Stock
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