Form 4: STERIS plc: Executive Daniel Carestio Reports Share Withholding for Taxes on Vested Restricted Shares
SEC Form 4 Filing
Daniel Carestio, President and CEO of STERIS plc, reports the withholding of 1,286 shares to cover taxes on vested restricted shares.
Summary
- On May 31, 2024, Daniel A. Carestio, President and CEO of STERIS plc, had 1,286 ordinary shares withheld to cover tax obligations related to the vesting of 4,308 restricted shares.
- The shares were withheld at a price of $222.88 per share.
- Following the transaction, Carestio beneficially owns 45,690 ordinary shares, with 20,437 of these shares being restricted and vesting at various dates in the future.
- A power of attorney is in place, authorizing representatives to handle SEC filings on Carestio's behalf.
Sentiment
Score: 5
Explanation: This is a routine disclosure of share transactions related to executive compensation, with no particularly positive or negative implications.
Industry Context
Executive compensation and share ownership are standard disclosures for publicly traded companies, providing transparency to investors.
Comparison to Industry Standards
- Executive share ownership and vesting schedules are common practices across publicly listed companies.
- Companies like Medtronic, Boston Scientific, and Abbott also disclose similar information regarding executive compensation and share ownership in their SEC filings.
- The vesting schedules and tax withholding practices are generally in line with industry norms for executive compensation.
Stakeholder Impact
- The disclosure provides transparency to shareholders regarding executive compensation and share ownership.
- The transaction has no immediate impact on employees, customers, suppliers, or creditors.
Key Dates
| Date | Description |
|---|---|
| November 7, 2023 | Date of Power of Attorney signature by Daniel A. Carestio. |
| May 31, 2023 | Date Mr. Carestio was awarded 4,308 ordinary shares. |
| May 31, 2024 | Date of share withholding for tax obligations and vesting of restricted shares. |
| June 3, 2024 | Vesting date for 1,108, 2,369 and 1,514 restricted shares. |
| June 4, 2024 | Date of Form 4 signature. |
| June 2, 2025 | Vesting date for 4,308, 1,514 and 2,369 restricted shares. |
| October 1, 2024 | Vesting date for 289 restricted shares. |
| October 1, 2025 | Vesting date for 289 restricted shares. |
| June 1, 2026 | Vesting date for 4,308 restricted shares. |
| June 2, 2026 | Vesting date for 2,369 restricted shares. |
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