Form 4: STERIS CEO Daniel Carestio Reports Routine Stock Disposition for Tax Obligations

STERIS plc's President and CEO, Daniel A. Carestio, reported the disposition of 3,065 ordinary shares valued at $242.08 per share on June 2, 2025, to cover tax withholding obligations related to vested restricted stock awards.

Summary

• Daniel A. Carestio, President and CEO of STERIS plc, reported the disposition of 3,065 ordinary shares on June 2, 2025.
• These shares were withheld by the issuer to satisfy tax withholding requirements upon the vesting of restricted stock awards.
• The shares were valued at the NYSE closing market price of $242.08 on June 2, 2025.
• Specifically, 1,905 shares were withheld from 4,308 restricted shares awarded on May 31, 2023.
• An additional 452 shares were withheld from 1,514 restricted shares awarded on June 2, 2021.
• Furthermore, 708 shares were withheld from 2,369 restricted shares awarded on June 2, 2022.
• Following these transactions, Mr. Carestio beneficially owns 53,121 ordinary shares directly.
• As of June 3, 2025, 19,815 of these ordinary shares remain restricted, with various vesting dates extending to June 4, 2027.

Sentiment

Score: 5

Explanation: The filing reports a routine, non-discretionary transaction (shares withheld for tax obligations upon vesting of restricted stock), which is a neutral event in terms of company performance or strategic direction.

Positives

• The vesting of restricted shares indicates the fulfillment of long-term incentive compensation for the CEO.
• The transaction is a routine tax withholding, not a discretionary sale, suggesting continued alignment of management's interests with shareholders.

Negatives

• The disposition of shares, even for tax purposes, reduces the direct share count held by the CEO.

Future Outlook

NA

Industry Context

This Form 4 filing is a standard disclosure of an insider transaction, specifically the disposition of shares for tax withholding purposes upon the vesting of restricted stock. Such transactions are common across all industries for executives receiving equity-based compensation and do not reflect a discretionary sale or broader industry trends.

Comparison to Industry Standards

• This type of transaction (shares withheld for tax upon vesting of restricted stock) is a standard practice for executive compensation programs across publicly traded companies globally.
• It aligns with common equity incentive plan structures designed to retain and incentivize key management personnel.
• No specific comparable companies or projects are relevant as this is a routine compliance filing.

Stakeholder Impact

• Shareholders: Minimal direct impact as this is a routine, non-discretionary transaction for tax purposes, not a sale indicating a change in management's confidence. It reflects the ongoing execution of the company's executive compensation plan.
• Employees: No direct impact.
• Customers: No direct impact.
• Suppliers: No direct impact.
• Creditors: No direct impact.

Next Steps

• Vesting of 4,283 restricted ordinary shares on June 4, 2025.
• Vesting of 289 restricted ordinary shares on October 1, 2025.
• Vesting of 4,308 restricted ordinary shares on June 1, 2026.
• Vesting of 2,369 restricted ordinary shares on June 2, 2026.
• Vesting of 4,283 restricted ordinary shares on June 4, 2026.
• Vesting of 4,283 restricted ordinary shares on June 4, 2027.

Key Dates

Keywords

STERIS plc, STE, Daniel A. Carestio, SEC Form 4, Insider Transaction, Restricted Stock Units, Tax Withholding, Executive Compensation, Share Ownership