Form 4: STERIS plc Executive Karen L. Burton Reports Changes in Beneficial Ownership
SEC Form 4 Filing
Karen L. Burton, VP & CAO of STERIS plc, reports the withholding of 26 ordinary shares to cover tax obligations related to vesting restricted shares on October 1, 2024.
Summary
- On October 1, 2024, Karen L. Burton, VP & CAO of STERIS plc, had 26 ordinary shares withheld to cover tax obligations.
- These shares were withheld from 86 restricted shares that vested on that date.
- The withholding was based on a share price of $235.78.
- Following the transaction, Ms. Burton beneficially owns 4,362 ordinary shares, of which 2,330 are restricted and will vest at various dates in the future.
Sentiment
Score: 5
Explanation: The document is a neutral regulatory filing detailing a routine transaction related to executive compensation. It doesn't contain information that would significantly impact investor sentiment positively or negatively.
Industry Context
This filing is a routine disclosure related to executive compensation and is typical for publicly traded companies. It provides transparency into the equity holdings and transactions of company insiders.
Comparison to Industry Standards
- Executive compensation practices, including the use of restricted stock units (RSUs), are common across publicly traded companies, particularly in the healthcare and medical device industries.
- Companies like Medtronic, Boston Scientific, and Abbott also utilize RSUs as part of their executive compensation packages.
- The vesting schedules and tax withholding practices described in this filing are generally consistent with industry norms.
Stakeholder Impact
- The transaction has a minor impact on shareholders as it relates to executive compensation and does not significantly alter the company's financial position.
Key Dates
| Date | Description |
|---|---|
| October 1, 2021 | Date Ms. Burton was awarded 86 ordinary shares. |
| October 1, 2024 | Date of transaction: 26 shares withheld for taxes from vested restricted shares; 86 restricted shares vested. |
| October 2, 2024 | Date of signature on the Form 4 filing. |
| June 2, 2025 | Vesting date for 340, 225, and 196 restricted shares. |
| June 4, 2025 | Vesting date for 306 restricted shares. |
| October 1, 2025 | Vesting date for 86 restricted shares. |
| June 1, 2026 | Vesting date for 340 restricted shares. |
| June 2, 2026 | Vesting date for 225 restricted shares. |
| June 4, 2026 | Vesting date for 306 restricted shares. |
| June 4, 2027 | Vesting date for 306 restricted shares. |
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