Form 4: SJW Group VP Willie D. Brown Jr. Reports Stock Vesting and Tax Withholding
SEC Form 4 Filing
Willie D. Brown Jr., VP & General Counsel of SJW Group, reports the vesting of restricted stock units (RSUs) and subsequent tax withholding on February 28, 2025.
Summary
- On February 28, 2025, Willie D. Brown Jr., VP & General Counsel of SJW Group, reported transactions involving SJW Group's common stock.
- A total of 1,587 shares vested from 2022 Restricted Stock Units (RSUs) based on the attainment of performance goals related to average return on equity (ROE) and relative total shareholder return (TSR) measured from January 1, 2022, to December 31, 2024.
- 568 shares were withheld to cover applicable withholding taxes related to the vesting of these RSUs at a price of $52.67 per share.
- Following these transactions, Brown directly owns 12,171 shares of SJW Group common stock.
- This includes 8,205 shares of common stock and 3,966 shares underlying RSUs that will vest in the future.
Sentiment
Score: 6
Explanation: The sentiment is neutral. It's a routine disclosure of stock transactions by an executive. The vesting of RSUs based on performance goals is generally a positive sign, but the document itself is simply a factual report.
Positives
- The vesting of RSUs indicates that the company met certain performance goals related to ROE and TSR, which is generally a positive sign.
- The executive's continued holding of a significant number of shares (12,171) suggests confidence in the company's future performance.
Future Outlook
The document does not contain specific forward-looking statements, but it mentions that 3,966 shares are underlying RSUs which will vest and become issuable in accordance with their terms.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. The vesting of RSUs is a common form of executive compensation, aligning management's interests with those of shareholders.
Stakeholder Impact
- Shareholders may view the vesting of RSUs positively, as it indicates the company achieved certain performance goals.
- The transactions have a minor impact on the overall shareholding structure of the company.
Key Dates
| Date | Description |
|---|---|
| January 1, 2022 | Start date for measuring performance goals (ROE and TSR) for the 2022 RSUs. |
| December 31, 2024 | End date for measuring performance goals (ROE and TSR) for the 2022 RSUs. |
| February 28, 2025 | Date of the reported transactions: vesting of RSUs and tax withholding. |
| March 04, 2025 | Date of signature on the Form 4 filing. |
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