Form 4: Resideo Technologies Director Jack R. Lazar Acquires Shares in Lieu of Cash Retainer

Director Jack R. Lazar acquired 1,546 shares of Resideo Technologies, Inc. common stock on July 1, 2024, in lieu of annual cash retainer fees.

Summary

• On July 1, 2024, Jack R. Lazar, a director of Resideo Technologies, Inc., acquired 1,546 shares of common stock.
• The acquisition was made under the 2018 Stock Plan for Non-Employee Directors in lieu of annual cash retainer fees.
• The price per share was $19.42.
• Following the transaction, Lazar directly owns 100,314 shares of Resideo Technologies, Inc.
• The shares are to be settled by issuance of shares of Common Stock in a lump sum following termination of service as a director and are fully vested upon grant.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. A director acquiring shares, even in lieu of cash, can be seen as a positive sign, indicating confidence in the company's future. However, it's a routine transaction related to compensation.

Positives

• The acquisition of shares by a director demonstrates confidence in the company.
• The use of stock in lieu of cash retainer fees conserves the company's cash resources.

Industry Context

Directors receiving stock in lieu of cash compensation is a fairly common practice, especially for smaller companies or those looking to conserve cash. It aligns the director's interests with those of shareholders.

Comparison to Industry Standards

• Stock-based compensation for directors is a common practice across various industries.
• Companies like Honeywell (HON) and Johnson Controls (JCI), which operate in similar sectors, also utilize stock-based compensation for their board members.
• The amount of stock granted in lieu of cash retainer fees is generally aligned with industry standards for director compensation.

Related Party Transactions

• The acquisition of shares by Jack R. Lazar, a director, is a related party transaction.

Stakeholder Impact

• The transaction has a minor positive impact on shareholders as it aligns the director's interests with theirs.
• It has a minor positive impact on the company's cash flow as it reduces the need for cash compensation.

Key Dates