Form 4: Spirit AeroSystems EVP & CFO Irene M. Esteves Reports Acquisition of Restricted Stock Units

Irene M. Esteves, EVP & CFO of Spirit AeroSystems, reports the acquisition of 74,589 restricted stock units on June 5, 2024.

Summary

• Irene M. Esteves, the EVP & CFO of Spirit AeroSystems Holdings, Inc., filed a Form 4 on June 7, 2024.
• The report details a transaction on June 5, 2024, where Esteves acquired 74,589 restricted stock units.
• These restricted stock units convert into common stock on a one-for-one basis once vested and payable.
• The units were granted on June 4, 2024, and will vest in one installment six months from the effective date.
• Following the reported transaction, Esteves directly owns 139,599 derivative securities.

Sentiment

Score: 6

Explanation: The sentiment is neutral. It's a routine filing related to executive compensation. The acquisition of stock units could be seen as a positive sign, but it's not a major event.

Positives

• The acquisition of restricted stock units by a high-ranking executive could be seen as a positive sign of confidence in the company's future performance.

Future Outlook

The restricted stock units will vest in one installment six months from June 4, 2024.

Industry Context

Executive compensation through stock options and restricted stock units is a common practice in publicly traded companies to align management's interests with those of shareholders.

Comparison to Industry Standards

• Stock grants are a typical component of executive compensation packages in the aerospace industry.
• Companies like Boeing and Lockheed Martin also utilize stock-based compensation to incentivize their executives.
• The vesting schedule of six months is relatively short compared to some companies that use multi-year vesting schedules.

Stakeholder Impact

• The acquisition of restricted stock units by the CFO could potentially align her interests more closely with those of shareholders.

Key Dates