Form 4: Spire Inc. Executive Joseph B. Hampton Receives Stock Awards and Phantom Stock Grants

Spire Inc. executive Joseph B. Hampton received 434 shares of restricted stock and various phantom stock awards linked to deferred income plans, as detailed in a recent SEC filing.

Summary

• Joseph B. Hampton, a President at Spire Inc., received 434 shares of restricted common stock on November 22, 2024, at a price of $72.55 per share, which will vest on November 22, 2027.
• Hampton also received multiple phantom stock awards linked to his deferred income plan, representing a total of 186 shares of common stock equivalents.
• These phantom stock awards are payable in cash upon separation of employment, with specific payout dates ranging from January 2037 to January 2041.
• The phantom stock awards are linked to the deferral of time-vested restricted stock awards.
• Hampton also holds 6,363.149 shares of Spire Inc. common stock indirectly through the company's 401(k) plan.

Sentiment

Score: 7

Explanation: The document reflects standard executive compensation practices, which is generally viewed positively as it aligns management interests with shareholders. There are no negative implications.

Positives

• The stock awards and phantom stock grants align executive compensation with long-term company performance.
• The vesting schedule of the restricted stock and phantom stock encourages long-term commitment from the executive.
• The deferred income plan allows for tax-advantaged savings and investment.

Risks

• The value of the phantom stock is tied to the price of Spire Inc. common stock, which is subject to market fluctuations.
• The cash payout of the phantom stock is dependent on the executive's separation of employment, which introduces uncertainty.

Industry Context

This filing is a routine disclosure of executive compensation and is typical for publicly traded companies. It reflects standard practices for incentivizing and retaining key personnel.

Comparison to Industry Standards

• Stock-based compensation is a common practice among publicly traded companies, particularly for executive-level employees.
• The use of restricted stock and phantom stock is a standard method to align executive interests with shareholder value.
• Deferred compensation plans are also common, providing tax advantages and long-term savings opportunities for executives.
• Companies like Southern Company, Duke Energy, and NextEra Energy also use similar compensation structures for their executives.

Stakeholder Impact

• Shareholders may view the stock awards positively as they align executive interests with long-term company performance.
• Employees may see this as a standard practice for executive compensation.
• The awards do not have a direct impact on customers or suppliers.

Key Dates

Keywords

Spire Inc, stock awards, phantom stock, restricted stock, executive compensation, deferred income plan, SEC Form 4, insider trading