Form 4: Silgan Holdings Inc. Executive Robert B. Lewis Reports Changes in Beneficial Ownership

Robert B. Lewis, EVP of Corporate Development & Administration at Silgan Holdings Inc., reports acquisition and disposal of common stock and restricted stock units.

Summary

• Robert B. Lewis, an executive at Silgan Holdings Inc., filed a Form 4 detailing changes in his beneficial ownership of the company's stock.
• On March 1, 2024, Lewis disposed of 13,996 shares of common stock at a price of $43.905 per share.
• On the same day, he acquired 18,400 shares of common stock.
• Following these transactions, Lewis beneficially owns 183,733 shares of common stock directly and 202,133 including unvested restricted stock units.
• The acquired securities are restricted stock units granted under the Silgan Holdings Inc. Second Amended and Restated 2004 Stock Incentive Plan, vesting ratably over 5 years starting March 1, 2025.
• These restricted stock units will be settled in shares of Common Stock on a 1-for-1 basis upon vesting.

Sentiment

Score: 6

Explanation: The sentiment is neutral as the filing primarily reflects routine stock transactions related to executive compensation. There are no explicit positive or negative implications for the company's performance.

Positives

• The acquisition of 18,400 restricted stock units indicates continued alignment of the executive's interests with the company's long-term performance.

Future Outlook

The restricted stock units vest ratably over a 5-year period beginning on March 1, 2025, and will be settled in shares of Common Stock on a 1-for-1 basis upon vesting.

Industry Context

Form 4 filings are a routine part of executive compensation and provide transparency into the holdings and transactions of company insiders. This filing is typical for executives receiving stock-based compensation.

Comparison to Industry Standards

• Stock-based compensation is a common practice among publicly traded companies to align executive interests with shareholder value.
• The vesting schedule of 5 years is a fairly standard practice to ensure long-term commitment from the executive.
• Comparing the amount of equity compensation to peers like Crown Holdings or Ball Corporation would provide further context on the magnitude of the grant.

Stakeholder Impact

• The filing provides transparency to shareholders regarding executive compensation and ownership.

Key Dates