Form 4: Ryder System Inc. Executive Sanford J. Hodes Reports Changes in Beneficial Ownership
SEC Form 4
Sanford J. Hodes, SVP of Procurement and Corporate Development at Ryder System Inc., reports the acquisition and disposal of common stock due to vesting of restricted stock rights and tax obligations.
Summary
- Sanford J. Hodes, a Senior Vice President at Ryder System Inc., filed a Form 4 detailing changes in his beneficial ownership of the company's common stock.
- On February 7, 2025, Hodes acquired 911 shares of common stock through time-based restricted stock rights (TVRSRs) that vest ratably over three years.
- Between February 9 and February 11, 2025, Hodes disposed of a total of 642 shares to cover tax obligations related to the vesting of TVRSRs.
- The disposal prices ranged from $157.51 to $158.18 per share.
- Following these transactions, Hodes directly owns 24,738 shares of Ryder System Inc. common stock, which includes 350 shares acquired through the company's dividend reinvestment plan.
Sentiment
Score: 6
Explanation: The sentiment is neutral as the filing primarily reflects routine transactions related to executive compensation and tax obligations.
Positives
- The acquisition of shares through vesting TVRSRs indicates a form of compensation and alignment with the company's long-term performance.
Industry Context
Executive stock transactions are a common occurrence in publicly traded companies and are closely monitored by investors for insights into management's perspective on the company's performance and future prospects.
Comparison to Industry Standards
- Executive compensation packages often include stock options and restricted stock units to align management's interests with those of shareholders.
- The vesting schedules and tax implications associated with these equity grants are standard practices across the industry.
- Companies like United Parcel Service (UPS) and FedEx Corporation (FDX), which operate in similar logistics and transportation sectors, also utilize equity-based compensation for their executives.
Stakeholder Impact
- The transactions have a minimal direct impact on stakeholders, as they are related to executive compensation and do not represent a significant change in the company's operations or financial condition.
Key Dates
| Date | Description |
|---|---|
| 02/09/2024 | Date of TVRSRs granted to the reporting person. |
| 02/10/2023 | Date of TVRSRs granted to the reporting person. |
| 02/11/2022 | Date of TVRSRs granted to the reporting person. |
| 02/07/2025 | Acquisition of 911 shares through TVRSRs. |
| 02/09/2025 | Disposal of 154 shares for tax obligations. |
| 02/10/2025 | Disposal of 187 shares for tax obligations. |
| 02/11/2025 | Disposal of 301 shares for tax obligations and filing date of the Form 4. |
Keywords
Form 4, Beneficial Ownership, Ryder System Inc., Sanford J. Hodes, TVRSR, Common Stock, Dividend Reinvestment Plan
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