Form 4: Sonida Senior Living VP Timothy Cober Reports Stock Grant and Tax Withholding

Timothy Cober, VP & Chief Accounting Officer of Sonida Senior Living, reports the acquisition of restricted stock and shares withheld for tax obligations.

Summary

• On April 5, 2024, Timothy Cober, VP & Chief Accounting Officer of Sonida Senior Living, Inc., was granted 5,542 shares of restricted stock under the company's 2019 Omnibus Stock and Incentive Plan.
• These shares vest in three installments: 33% on April 5, 2025, 33% on April 5, 2026, and 34% on April 5, 2027.
• Cober also received 5,542 shares of performance-based restricted stock on the same date, which will vest upon achievement of a target performance objective.
• Additionally, 178 shares were withheld to satisfy tax obligations related to the vesting of restricted stock at a price of $29.41.
• Following these transactions, Cober directly owns 42,759 shares of common stock and indirectly owns 3,430 shares through the Cober Revocable Trust.

Sentiment

Score: 6

Explanation: The document is a routine regulatory filing related to executive compensation. It doesn't contain information that would significantly impact investor sentiment positively or negatively.

Positives

• The grant of restricted stock and performance-based restricted stock aligns Mr. Cober's interests with those of the company and its shareholders.
• The vesting schedule of the restricted stock encourages long-term commitment from Mr. Cober.

Future Outlook

The vesting of the restricted stock is contingent upon continued employment and, in the case of performance-based shares, the achievement of specific performance objectives.

Industry Context

Stock grants are a common form of executive compensation in the senior living industry, aligning management's interests with shareholder value.

Comparison to Industry Standards

• Executive compensation packages in the senior living industry often include a mix of base salary, bonus, stock options, and restricted stock units.
• Companies like Brookdale Senior Living and Ventas, Inc. also utilize stock-based compensation to incentivize their executives.
• The vesting schedules and performance metrics associated with these grants vary depending on the company's specific goals and objectives.

Stakeholder Impact

• The stock grant could have a minor positive impact on shareholder value if the performance-based conditions are met, aligning management's interests with those of the shareholders.
• The tax withholding has no material impact on stakeholders.

Key Dates