Form 4: Reynolds Consumer Products Executive Receives 21,186 Restricted Stock Units After Performance Goals Met

Stephan M. Pace, President of Sales Evolution at Reynolds Consumer Products, received 21,186 restricted stock units (RSUs) after performance goals were met for fiscal year 2024.

Summary

• Stephan M. Pace, President of Sales Evolution at Reynolds Consumer Products, was granted 21,186 performance share units (PSUs) on February 1, 2024.
• The number of PSUs earned was contingent on the company's performance during fiscal year 2024.
• On January 29, 2025, it was determined that Mr. Pace earned 21,186 PSUs based on the company's performance.
• These PSUs were converted to restricted stock units (RSUs) with a service-based vesting condition.
• The RSUs will vest on February 1, 2027.

Sentiment

Score: 7

Explanation: The document reflects a positive outcome for the executive, as performance goals were met, leading to the vesting of equity. This is a standard practice and does not indicate any significant positive or negative sentiment for the company as a whole.

Positives

• The vesting of the RSUs indicates that performance goals were met for fiscal year 2024.
• The conversion of PSUs to RSUs provides a clear path to equity ownership for the executive.

Industry Context

This is a standard practice for executive compensation, aligning management's interests with the company's performance and long-term value creation.

Comparison to Industry Standards

• Granting performance-based equity awards like PSUs and RSUs is a common practice among publicly traded companies to incentivize executives.
• The vesting period of the RSUs, which is approximately two years after the grant date, is within the typical range for such awards.
• Companies like Berry Global Group and Amcor also use similar equity-based compensation structures for their executives.

Stakeholder Impact

• The vesting of RSUs aligns the executive's interests with those of shareholders, as the value of the RSUs is tied to the company's stock performance.
• This type of compensation is designed to incentivize executives to drive long-term value creation for the company.

Key Dates

Keywords

Restricted Stock Units, Performance Share Units, Equity Compensation, Executive Compensation, Reynolds Consumer Products, Vesting, Form 4