Form 4: Director Robert Kistinger Reports Dividend Equivalent Phantom Shares Accrual in Resources Connection, Inc.

Robert Kistinger, a director of Resources Connection, Inc. (RGP), reported the accrual of dividend equivalent phantom shares on June 13, 2024.

Summary

• On June 13, 2024, Robert Kistinger, a director at Resources Connection, Inc. (RGP), reported a transaction involving phantom stock.
• Kistinger accrued 673 dividend equivalent phantom shares related to previously awarded phantom shares.
• These phantom shares are linked to the Directors Deferred Compensation Plan.
• Each phantom share is economically equivalent to one share of RGP common stock.
• The phantom shares will be payable in cash upon Kistinger's separation from service as a director.
• Following the transaction, Kistinger beneficially owns 52,427 phantom shares directly.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction related to director compensation, indicating standard corporate governance practices. The sentiment is neutral to slightly positive as it shows continued participation in compensation plans.

Positives

• The accrual of dividend equivalent phantom shares reflects continued participation in the Directors Deferred Compensation Plan.

Future Outlook

The phantom shares will be payable in cash to the reporting person upon separation from service as a director in accordance with the reporting person's election under the Directors Deferred Compensation Plan.

Industry Context

This filing is a routine disclosure related to director compensation and deferred compensation plans, common in publicly traded companies.

Comparison to Industry Standards

• Director compensation plans involving phantom stock are a fairly common practice among publicly traded companies.
• Companies like Accenture and ManpowerGroup also utilize deferred compensation plans for their directors, although the specific terms and instruments may vary.
• The use of phantom stock aligns with industry standards for aligning director interests with shareholder value.

Stakeholder Impact

• The transaction has a minimal direct impact on stakeholders, as it relates to director compensation and deferred benefits.

Key Dates