Form 4: Reading International Inc. Director Margaret Cotter Reports Vesting of Restricted Stock Units
SEC Form 4
Margaret Cotter, a director and executive officer at Reading International Inc., reported the vesting of 8,768 restricted stock units on April 18, 2024, resulting in her beneficial ownership of 817,157 Class A Non-Voting Common Stock.
Summary
- On April 22, 2024, Margaret Cotter, a Director, 10% Owner, Chairperson, EVP RE Dev/NY, and Member of Sec.13(d)(3) Group at Reading International Inc. [RDI], filed a Form 4.
- The filing reports the vesting of 8,768 Class A Non-Voting Common Stock restricted stock units on April 18, 2024.
- These units vested as part of a grant made on April 18, 2022, under the company's 2020 Stock Incentive Plan.
- The vested shares will be delivered to Ms. Cotter according to her deferral election.
- Following the transaction, Ms. Cotter beneficially owns 817,157 shares of Class A Non-Voting Common Stock directly and 17,536 restricted stock units.
Sentiment
Score: 5
Explanation: This is a routine regulatory filing related to executive compensation. It doesn't contain information that would significantly shift investor sentiment.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This filing indicates the vesting of previously granted equity compensation.
Stakeholder Impact
- The vesting of restricted stock units may have a minor dilutive effect on existing shareholders.
Key Dates
| Date | Description |
|---|---|
| April 18, 2022 | Date of grant for 46,763 restricted stock units under the 2020 Stock Incentive Plan. |
| March 9, 2023 | Committee determined and certified that the reporting person met 15% of PRSU criteria for the year ended December 31, 2022. |
| April 18, 2023 | Commencement of vesting for 35,072 restricted stock units in four equal annual installments. |
| March 10, 2024 | Deadline for the Committee to certify the percentage of PRSU Criteria met for the calendar years 2023 and 2024. |
| April 5, 2024 | Committee determined and certified that the reporting person met 89% of PRSU criteria for the year ended December 31, 2023. |
| April 18, 2024 | Vesting date of 8,768 restricted stock units and annual installment of 35,072 restricted stock units. |
| April 22, 2024 | Date of Form 4 filing. |
| April 18, 2025 | Vesting date of annual installment of 35,072 restricted stock units and performance-based restricted stock units (PRSU). |
| April 18, 2026 | Vesting date of annual installment of 35,072 restricted stock units. |
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