Form 4: Reading International Inc. Executive Steven Lucas Disposes of Shares Following Vesting of Restricted Stock Units
SEC Form 4 Filing
Steven Lucas, VP, Controller & CAO of Reading International Inc., reports the vesting of restricted stock units and subsequent disposal of shares.
Summary
- On April 11, 2024, Steven Lucas, VP, Controller & CAO of Reading International Inc., had 17,161 restricted stock units vest.
- These units represent the contingent right to receive one share of Class A Non-Voting Common Stock upon vesting.
- Following the vesting, Lucas disposed of 17,161 shares of Class A Non-Voting Common Stock.
- After the transaction, Lucas beneficially owns 51,401 shares.
- Lucas also holds 13,064 derivative securities in the form of restricted stock units.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing stock transactions by an executive, 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 transaction may have a minor impact on shareholders due to the change in ownership, but it is unlikely to be significant.
Key Dates
| Date | Description |
|---|---|
| April 11, 2023 | Grant date of 36,031 restricted stock units under the Company's 2020 Stock Incentive Plan. |
| December 31, 2023 | Year-end for performance criteria assessment related to performance-based restricted stock units (PRSUs). |
| March 10, 2024 | Deadline for the Compensation and Stock Option Committee to determine and certify the achievement of performance criteria for the year ended December 31, 2023. |
| April 5, 2024 | The Committee determined and certified that the reporting person met 89% of PRSU criteria for the year ended December 31, 2023. |
| April 11, 2024 | Date of transaction: Vesting of 17,161 restricted stock units and subsequent disposal of shares; commencement of vesting for some restricted stock units. |
| April 11, 2025 | Next vesting date for some restricted stock units. |
| April 11, 2026 | Third anniversary of the Date of Grant, vesting date for performance based restricted stock units (PRSU). |
| March 10, 2026 | Deadline for the Committee to certify the percentage of PRSU Criteria which has been met for the calendar years 2024 and 2025. |
| April 11, 2027 | Final vesting date for some restricted stock units. |
| April 15, 2024 | Date of the Form 4 filing. |
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