Form 4: Director Neil Dimick Acquires Phantom Stock in Resources Connection, Inc.

Director Neil Dimick was granted 11,467 shares of phantom stock in Resources Connection, Inc. as part of a deferred compensation plan.

Summary

• Neil Dimick, a director at Resources Connection, Inc., received 11,467 shares of phantom stock on January 2, 2025.
• This phantom stock was awarded as part of the Directors Deferred Compensation Plan.
• The phantom stock vests 25% after one year and 25% each year for the next three years.
• Each share of phantom stock is equivalent to one share of common stock.
• The vested shares will be paid in cash upon Mr. Dimick's separation from service as a director.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction related to director compensation, which is generally viewed neutrally to slightly positive as it aligns director interests with the company's performance.

Positives

• The award of phantom stock aligns director compensation with the company's long-term performance.
• The vesting schedule encourages continued service from the director.

Future Outlook

The phantom stock will vest over the next four years and be paid out in cash upon separation from service.

Industry Context

This type of deferred compensation is common for directors of public companies, aligning their interests with long-term shareholder value.

Comparison to Industry Standards

• Deferred compensation plans, including phantom stock awards, are a standard practice for compensating board members in publicly traded companies.
• Many companies use similar vesting schedules to retain directors and align their interests with the long-term performance of the company.
• Companies like Accenture, Deloitte, and Korn Ferry also use similar compensation structures for their board members.

Stakeholder Impact

• The phantom stock award aligns the director's interests with those of shareholders.
• The vesting schedule encourages the director's continued service.

Key Dates

Keywords

phantom stock, director compensation, deferred compensation, stock award, insider transaction, Resources Connection Inc, RGP