Form 4: Ryman Hospitality Properties EVP & COO Patrick Chaffin Reports Changes in Beneficial Ownership
SEC Form 4
Patrick Chaffin, EVP & COO of Ryman Hospitality Properties, reports acquisition of restricted stock units due to dividend payment.
Summary
- Patrick Chaffin, EVP & COO of Ryman Hospitality Properties, filed a Form 4 detailing changes in beneficial ownership.
- The changes involve the acquisition of restricted stock units (RSUs) due to a dividend payment of $1.10 per share of common stock paid by the issuer on July 15, 2024.
- The number of RSUs acquired was based on the dividend amount and the closing price of Ryman Hospitality Properties' common stock on June 28, 2024.
- The RSUs vest at various dates, including March 15, 2025, and in increments over four years beginning on March 15, 2024, and March 15, 2025.
- The reporting person directly owns the restricted stock units.
Sentiment
Score: 6
Explanation: The sentiment is neutral. It's a routine filing related to executive compensation and dividend payouts, not indicative of significant positive or negative developments.
Positives
- The acquisition of restricted stock units by a company executive can be seen as a positive sign, indicating confidence in the company's future performance.
Industry Context
Form 4 filings are a standard part of regulatory compliance for company insiders, providing transparency into their transactions and holdings. This filing reflects routine compensation adjustments related to dividend payouts.
Stakeholder Impact
- The acquisition of restricted stock units by the EVP & COO could potentially align the executive's interests with those of the shareholders.
Key Dates
| Date | Description |
|---|---|
| June 28, 2024 | Date used to determine the closing price of Ryman Hospitality Properties' common stock for calculating the number of RSUs. |
| July 15, 2024 | Date of the dividend payment of $1.10 per share. |
| July 15, 2024 | Date of the Form 4 filing. |
| March 15, 2024 | Start date for vesting of 1/4 increments for four years for 2,585 RSUs. |
| March 15, 2025 | Date of 100% vesting for 1,064 RSUs. |
| March 15, 2025 | Date of 50% vesting for 1,663 RSUs. |
| March 15, 2025 | Start date for vesting of 1/4 increments for four years for 3,085 RSUs. |
| March 15, 2026 | Date of 50% vesting for 1,663 RSUs. |
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