Form 4: Reading International Inc. Director Margaret Cotter Reports Acquisition of Class A Non-Voting Common Stock
SEC Form 4
Margaret Cotter, a director at Reading International Inc., reported the acquisition of 10,825 shares of Class A Non-Voting Common Stock following the vesting of restricted stock units.
Summary
- On April 5, 2024, Margaret Cotter, a director at Reading International Inc., acquired 10,825 shares of Class A Non-Voting Common Stock.
- This acquisition resulted from the vesting of restricted stock units (RSUs) granted on April 5, 2021, under the company's 2020 Stock Incentive Plan.
- The vested RSUs represent the contingent right to receive one share of Class A Non-Voting Common Stock per unit.
- Following the transaction, Cotter directly owns 808,389 shares of Class A Non-Voting Common Stock and 5,677 derivative securities.
- The vested shares will be delivered to Cotter according to her irrevocable deferral election.
Sentiment
Score: 5
Explanation: The document is a standard SEC filing related to stock ownership, with neutral sentiment.
Positives
- The vesting of restricted stock units indicates that performance criteria were met, which could be viewed positively.
Industry Context
This filing is a routine disclosure related to executive compensation and stock ownership, common in publicly traded companies.
Stakeholder Impact
- The transaction affects the ownership structure of the company, but the impact on other stakeholders is likely minimal.
Key Dates
| Date | Description |
|---|---|
| April 5, 2021 | Date of grant for 30,280 restricted stock units under the Company's 2020 Stock Incentive Plan. |
| March 10, 2022 | Deadline for the Committee to determine and certify the reporting person met 100% of the PRSU Criteria for the year ended December 31, 2021. |
| April 5, 2022 | Commencement date for vesting of 22,710 restricted stock units in four equal annual installments. |
| April 5, 2023 | Second vesting date for 22,710 restricted stock units in four equal annual installments. |
| March 9, 2023 | The Committee determined and certified that the reporting person met 15% of PRSU criteria for the year ended December 31, 2022. |
| March 10, 2024 | Deadline for the Committee to certify the percentage of the PRSU Criteria which has been met for the calendar years 2022 and 2023. |
| April 5, 2024 | Date of transaction: Acquisition of 10,825 shares of Class A Non-Voting Common Stock due to RSU vesting. Third vesting date for 22,710 restricted stock units in four equal annual installments. The Committee determined and certified that the reporting person met 89% of PRSU criteria for the year ended December 31, 2023. 10,825 restricted stock units are fully vested. |
| April 5, 2025 | Final vesting date for 22,710 restricted stock units in four equal annual installments. |
| April 9, 2024 | Date of signature for the Form 4 filing. |
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