4/A: Spirit AeroSystems Executive Corrects Stock Unit Grant in Amended SEC Filing
SEC Filing (Form 4/A)
Damon Christopher Ward, VP and Corporate Controller at Spirit AeroSystems, files an amendment to correct the number of restricted stock units granted on February 9, 2024.
Summary
- Damon Christopher Ward, VP, Corporate Controller of Spirit AeroSystems Holdings, Inc., filed an amended Form 4 with the SEC.
- The amendment corrects the number of restricted stock units (RSUs) granted on February 9, 2024.
- The original filing on February 13, 2024, incorrectly reported the number of RSUs.
- The corrected filing shows that Ward was granted 4,396 RSUs, vesting in three annual installments starting on the first anniversary of the grant date.
- Each RSU converts into one share of Class A Common Stock.
Sentiment
Score: 7
Explanation: The document is a routine correction of a previously filed form. It doesn't contain any information that would significantly impact the company's financial performance or outlook. The sentiment is neutral to slightly positive as it shows transparency and adherence to regulatory requirements.
Future Outlook
The restricted stock units will vest in three annual installments beginning on the first anniversary of the grant date.
Industry Context
This filing is a routine disclosure related to executive compensation and stock ownership, common in publicly traded companies. It provides transparency to investors regarding the equity holdings of company insiders.
Comparison to Industry Standards
- Executive compensation packages including restricted stock units are standard practice among publicly traded companies, including competitors like Boeing and Airbus suppliers.
- The vesting schedule of three annual installments is a common vesting structure for RSU grants.
- The reporting requirements under Section 16(a) of the Securities Exchange Act are consistently applied across all companies.
Stakeholder Impact
- Shareholders benefit from the increased transparency regarding executive compensation and stock ownership.
- Employees, particularly executives, are impacted by the grant and vesting of restricted stock units.
Key Dates
| Date | Description |
|---|---|
| 02/09/2024 | Date of the restricted stock unit grant. |
| 02/13/2024 | Date of the original Form 4 filing with the incorrect RSU number. |
| 02/27/2024 | Date of the amended Form 4/A filing. |
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