Form 4: Sensata Technologies CEO Jeffrey Cote Reports Changes in Beneficial Ownership

CEO Jeffrey Cote reports acquisition and disposal of Sensata Technologies shares due to vesting of restricted stock units and tax withholdings.

Summary

• Jeffrey Cote, CEO and President of Sensata Technologies, filed a Form 4 detailing changes in his beneficial ownership of the company's ordinary shares.
• On April 1, 2024, Cote acquired 69,117 shares of unvested restricted securities granted under the 2021 Equity Incentive Plan.
• An additional 32,111 shares were acquired due to the vesting of performance-based stock unit awards granted in 2021.
• 29,467 shares were withheld to cover taxes due upon the vesting of restricted security awards at a price of $36.46 per share.
• Following these transactions, Cote directly owns 194,037 shares.
• Cote also indirectly owns 133,766 shares through the Cote Family 2020 Irrevocable Trust and 42,000 shares through the Cote 2019 Irrevocable Indenture Trust.

Sentiment

Score: 6

Explanation: Neutral sentiment as the filing primarily reflects routine transactions related to equity compensation.

Positives

• The vesting of performance-based stock units suggests the achievement of certain performance targets by the company.

Future Outlook

The unvested restricted securities will vest over three years, beginning on April 1, 2025, subject to continued service.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the trading activities of company insiders. This filing indicates changes in CEO's holdings due to vesting of previously granted equity.

Stakeholder Impact

• The vesting of equity awards aligns management's interests with those of shareholders.

Key Dates