Form 4: Scotts Miracle-Gro CEO James Hagedorn Reports Acquisition of Phantom Stock
SEC Form 4 Filing
James Hagedorn, Chairman, CEO, and President of Scotts Miracle-Gro, reports acquiring phantom stock representing the right to receive common shares or their cash value.
Summary
- On April 26, 2024, James Hagedorn, the Chairman, CEO, and President of Scotts Miracle-Gro, reported acquiring 1,232.005 shares of phantom stock.
- Each share of phantom stock represents the right to receive one common share of Scotts Miracle-Gro or the cash value thereof.
- The price of the phantom stock was $67.64 per share.
- Following the transaction, Hagedorn beneficially owns 192,022.688 derivative securities.
- The phantom stock is payable in cash following the termination of Hagedorn's employment with the Issuer, and he may transfer his/her phantom stock into an alternative investment at any time.
Sentiment
Score: 6
Explanation: The document is a neutral regulatory filing. The acquisition of phantom stock could be interpreted as a slightly positive signal, but it's primarily an informational disclosure.
Positives
- The acquisition of phantom stock by the CEO could be seen as a positive sign, indicating confidence in the company's future performance.
Future Outlook
The document does not contain specific forward-looking statements, but it indicates that the phantom stock is payable in cash upon termination of employment.
Industry Context
This filing is a routine disclosure related to executive compensation and stock ownership, common in publicly traded companies. It provides transparency into the holdings of key company personnel.
Comparison to Industry Standards
- Executive compensation packages often include phantom stock or similar equity-based awards to align management's interests with those of shareholders.
- The specifics of these arrangements vary widely across companies and industries, depending on factors such as company size, performance, and competitive practices.
Stakeholder Impact
- Shareholders may view the CEO's acquisition of phantom stock as a sign of confidence in the company's future prospects.
Key Dates
| Date | Description |
|---|---|
| 04/26/2024 | Date of transaction: James Hagedorn acquired phantom stock. |
| 04/29/2024 | Date of signature on the report. |
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