Form 4: Spirit AeroSystems Director Plueger Receives Restricted Stock Units
SEC Form 4 Filing
Director John L. Plueger of Spirit AeroSystems Holdings, Inc. was granted 7,875 restricted stock units on May 6, 2024, subject to a service condition.
Summary
- On May 6, 2024, John L. Plueger, a director of Spirit AeroSystems Holdings, Inc., received a grant of 7,875 restricted stock units (RSUs).
- These RSUs are subject to a service condition, requiring Plueger to remain a Director with the issuer until May 6, 2025, for the units to vest.
- 3,332 of these RSUs represent a cash award converted to units, and a pro rata cash payment will be made if service is terminated before the vesting date.
- Following the reported transaction, Plueger beneficially owns 31,509 derivative securities.
Sentiment
Score: 7
Explanation: The document indicates a standard executive compensation practice, suggesting stability and alignment of interests. The sentiment is neutral to positive.
Positives
- The grant of restricted stock units aligns the director's interests with the long-term performance of the company.
- The vesting condition encourages continued service and commitment from the director.
Risks
- If the director terminates service before May 6, 2025, a portion of the RSUs will be forfeited.
Future Outlook
The director's continued service is incentivized by the vesting of the restricted stock units, aligning their interests with the company's performance until May 6, 2025.
Industry Context
Grants of restricted stock units are a common form of executive compensation in the aerospace industry, aligning management's interests with shareholder value and incentivizing long-term performance.
Comparison to Industry Standards
- Companies like Boeing and Lockheed Martin also use restricted stock units as part of their executive compensation packages.
- The vesting period of one year is relatively standard for RSU grants to directors.
Stakeholder Impact
- Shareholders may view the RSU grant positively as it incentivizes the director to remain committed to the company's success.
- The director is incentivized to continue serving the company.
Key Dates
| Date | Description |
|---|---|
| 05/06/2024 | Date of the restricted stock unit grant. |
| 05/06/2025 | Vesting date for the restricted stock units, contingent on continued service as a director. |
| 05/08/2024 | Date of signature for the Form 4 filing. |
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