Form 4: Sensata Technologies' Interim CEO Martha N. Sullivan Reports Share Disposal for Tax Obligations

Martha N. Sullivan, Interim President and CEO of Sensata Technologies, disposed of 3,764 ordinary shares to cover tax obligations upon vesting of restricted security awards.

Summary

• On May 31, 2024, Martha N. Sullivan, the Interim President and CEO of Sensata Technologies, disposed of 3,764 ordinary shares to cover tax obligations.
• The shares were sold at a price of $41.32 per share.
• Following the transaction, Sullivan directly owns 454,896 ordinary shares.
• This includes 144,759 unvested restricted stock units, with 3,697 vesting on the date of the 2024 Annual Shareholders Meeting and 141,062 vesting in eleven equal monthly installments contingent upon continued employment as Interim CEO.
• Unvested portions of the 141,062 restricted stock units will be forfeited upon termination of employment as Interim CEO, coinciding with the commencement of employment of a new Chief Executive Officer.

Sentiment

Score: 6

Explanation: The document is a routine filing related to stock transactions by an insider. It doesn't contain information that would significantly sway investor sentiment positively or negatively.

Risks

• The forfeiture of unvested restricted stock units upon termination of employment as Interim CEO could impact Sullivan's holdings.

Future Outlook

The vesting of restricted stock units is contingent upon Sullivan's continued employment as Interim CEO until a new Chief Executive Officer is appointed.

Industry Context

Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to investors.

Stakeholder Impact

• The transaction has a minimal impact on shareholders as it is a standard procedure for covering tax obligations.

Key Dates