Form 4: Spire Inc. Executive Transfers Phantom Stock in Deferred Income Plan
SEC Form 4
Michael C. Geiselhart, Senior Vice President of Spire Inc., transferred phantom stock within his deferred income plan.
Summary
- On August 19, 2024, Michael C. Geiselhart, a Senior Vice President at Spire Inc., executed a transaction involving phantom stock.
- He transferred 2,382.45 shares of phantom stock from a performance-contingent account to a fixed-rate account within his deferred income plan.
- Each share of phantom stock is equivalent to one share of Spire Inc. common stock.
- The price per share for the phantom stock was $64.5.
- Following the transaction, Geiselhart directly owns 26,252 shares of common stock and indirectly owns 14,599.79 shares of phantom stock.
Sentiment
Score: 5
Explanation: The document is a routine SEC filing detailing an internal transfer of phantom stock, indicating a neutral sentiment.
Industry Context
Executive compensation and stock ownership are closely monitored in the utilities sector to align management interests with shareholder value.
Comparison to Industry Standards
- Executive stock ownership is a common practice across the utility industry.
- Companies like Atmos Energy (ATO) and ONE Gas (OGS) also utilize deferred compensation plans and stock awards as part of their executive compensation packages.
- The specific details of these plans vary, but the overall goal is to incentivize long-term performance and shareholder value creation.
Stakeholder Impact
- The transaction has minimal direct impact on shareholders, as it is an internal transfer within an executive's compensation plan.
- It reflects ongoing executive compensation practices.
Key Dates
| Date | Description |
|---|---|
| January 15, 2020 | Date of Power of Attorney execution, authorizing certain individuals to file SEC forms on behalf of Michael C. Geiselhart. |
| August 19, 2024 | Date of the phantom stock transfer transaction. |
| August 20, 2024 | Date of signature for the Form 4 filing. |
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