Form 4: STERIS plc Executive John Adam Zangerle Reports Share Transaction
SEC Form 4 Filing
John Adam Zangerle, Sr. VP, Gen Counsel, and Sec. of STERIS plc, reports the withholding of 346 shares for tax obligations following the vesting of restricted shares.
Summary
- On May 31, 2024, John Adam Zangerle, a Senior VP, Gen Counsel, and Secretary at STERIS plc, had 346 ordinary shares withheld to cover tax obligations.
- This withholding occurred after 1,157 restricted shares vested on the same date.
- The withheld shares were valued at $222.88 each, based on the NYSE closing market price on May 31, 2024.
- As of May 31, 2024, Mr. Zangerle beneficially owns 29,937 ordinary shares, with 7,646 of these shares being restricted and vesting at various dates in the future.
Sentiment
Score: 5
Explanation: This is a neutral report on a routine transaction related to executive compensation.
Industry Context
This is a routine filing related to executive compensation and is typical for publicly traded companies.
Comparison to Industry Standards
- Executive compensation practices, including the granting and vesting of restricted shares, are common across publicly traded companies.
- The withholding of shares for tax obligations is a standard procedure in equity compensation plans.
- Companies like Medtronic, Boston Scientific, and Abbott Laboratories also utilize similar equity compensation strategies for their executives.
Stakeholder Impact
- The transaction has a minimal direct impact on stakeholders as it relates to standard executive compensation practices.
Key Dates
| Date | Description |
|---|---|
| November 3, 2023 | Date of Power of Attorney execution by John Adam Zangerle. |
| May 31, 2023 | Date Mr. Zangerle was awarded 1,157 ordinary shares. |
| May 31, 2024 | Date of transaction: 346 shares withheld for taxes and 1,157 restricted shares vested. |
| June 3, 2024 | 846, 752, and 819 restricted shares lapse. |
| June 4, 2024 | Date of report filing. |
| October 1, 2024 | 202 restricted shares lapse. |
| June 2, 2025 | 1,157, 819, and 846 restricted shares lapse. |
| October 1, 2025 | 202 restricted shares lapse. |
| June 1, 2026 | 1,157 restricted shares lapse. |
| June 2, 2026 | 846 restricted shares lapse. |
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