Form 4: Sanfilippo Executive Receives Restricted Stock Units

Frank S. Pellegrino, CFO & EVP of Finance and Administration at John B. Sanfilippo & Son Inc., was granted 4,388 restricted stock units.

Summary

• Frank S. Pellegrino, the CFO & EVP of Finance and Administration at John B. Sanfilippo & Son Inc., received 4,388 restricted stock units on November 20, 2024.
• These restricted stock units were granted under the company's 2023 Omnibus Incentive Plan.
• Each unit represents the right to receive one share of common stock upon vesting.
• The units are scheduled to vest on November 20, 2027, subject to certain conditions.
• Once vested, the units will generally be paid in an equivalent number of shares of the company's common stock.

Sentiment

Score: 7

Explanation: The document reflects a routine executive compensation practice, which is generally viewed positively as it aligns management interests with shareholders. There are no indications of negative sentiment.

Positives

• The grant of restricted stock units aligns executive compensation with the long-term performance of the company.
• The vesting period of three years encourages long-term commitment from the executive.

Risks

• The value of the restricted stock units is dependent on the future performance of the company's stock price.
• The units are subject to vesting conditions, which if not met, could result in the executive not receiving the shares.

Future Outlook

The restricted stock units are scheduled to vest on November 20, 2027, contingent on certain conditions.

Industry Context

The granting of restricted stock units is a common practice in corporate compensation to align executive interests with shareholder value and long-term company performance.

Comparison to Industry Standards

• Many public companies use restricted stock units as part of their executive compensation packages.
• The vesting period of three years is a typical timeframe for such grants.
• Companies like Hershey and Mondelez also use similar equity-based compensation plans to incentivize their executives.

Stakeholder Impact

• Shareholders may view this as a positive sign of aligning executive interests with long-term company performance.
• Employees may see this as a standard practice for executive compensation.

Key Dates

Keywords

restricted stock units, executive compensation, stock grant, incentive plan, vesting, equity