Form 4: Reading International Inc. Executive Exercises Stock Options
SEC Form 4
Sidney Craig Tompkins, EVP and General Counsel of Reading International Inc., reports the vesting of restricted stock units and subsequent acquisition of Class A Non-Voting Common Stock.
Summary
- On March 11, 2024, Sidney Craig Tompkins, EVP and General Counsel of Reading International Inc., vested 4,783 restricted stock units, each representing one share of Class A Non-Voting Common Stock.
- These units vested as part of a previously reported grant of 25,511 restricted stock units from March 10, 2020, under the company's 2010 Stock Incentive Plan.
- The vested shares will be delivered to Tompkins in accordance with their irrevocable deferral election.
- Following the transaction, Tompkins directly owns 27,256 shares of Class A Non-Voting Common Stock and indirectly owns 55,825 shares through various retirement accounts.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing related to stock option vesting, indicating a neutral sentiment.
Industry Context
This filing is a routine disclosure related to executive compensation and stock ownership, common in publicly traded companies.
Stakeholder Impact
- The vesting of stock options may have a minor dilutive effect on existing shareholders.
Key Dates
| Date | Description |
|---|---|
| March 10, 2020 | Grant date of 25,511 restricted stock units under the 2010 Stock Incentive Plan. |
| March 10, 2021 | First annual installment vesting date for 19,134 restricted stock units. |
| March 9, 2022 | Committee determined and certified that the report person met 100% of the PRSU criteria for the year ended December 31, 2021. |
| March 10, 2022 | Second annual installment vesting date for 19,134 restricted stock units. |
| March 9, 2023 | Committee determined and certified that the reporting person met 15% of PRSU criteria for the year ended December 31, 2022. |
| March 10, 2023 | Third anniversary of the grant date and vesting date for 6,377 performance-based restricted stock units (PRSUs); third annual installment vesting date for 19,134 restricted stock units. |
| March 11, 2024 | Vesting date of 4,783 restricted stock units; fourth annual installment vesting date for 19,134 restricted stock units. |
| March 13, 2024 | Date of signature for the Form 4 filing. |
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