Form 4: STERIS plc Executive Karen L. Burton Reports Share Withholding for Tax Obligations
SEC Form 4 Filing
Karen L. Burton, VP & CAO of STERIS plc, reports the withholding of shares to cover tax obligations upon the vesting of restricted stock awards.
Summary
- On June 3, 2024, Karen L. Burton, VP & CAO of STERIS plc, had shares withheld to cover tax obligations related to the vesting of restricted stock.
- A total of 60 shares were withheld from 198 shares vesting from a June 1, 2020 award, 59 shares were withheld from 196 shares vesting from a June 2, 2021 award, and 68 shares were withheld from 225 shares vesting from a June 2, 2022 award.
- The withholding was executed at a price of $228.37 per share, based on the NYSE closing market price on June 3, 2024.
- Following these transactions, Ms. Burton beneficially owns 3,470 ordinary shares, with 1,498 of these shares remaining restricted and vesting at various dates in the future.
Sentiment
Score: 7
Explanation: The document is a routine regulatory filing related to executive compensation. It doesn't contain any information that would significantly impact investor sentiment positively or negatively. The sentiment is neutral to slightly positive as it reflects standard corporate governance practices.
Future Outlook
The document outlines the vesting schedule for the remaining restricted shares held by Ms. Burton, extending through June 2, 2026.
Industry Context
This is a routine disclosure related to executive compensation and tax obligations, common in publicly traded companies.
Comparison to Industry Standards
- Share withholding for tax obligations upon vesting of restricted stock is a standard practice across publicly traded companies to simplify tax compliance for employees.
- Companies like Medtronic, Johnson & Johnson, and Abbott Laboratories also utilize similar methods for handling taxes related to equity compensation for their executives.
Stakeholder Impact
- Shareholders are informed about executive compensation practices.
- The executive's holdings and vesting schedules are transparently disclosed.
Key Dates
| Date | Description |
|---|---|
| 06/01/2020 | Date of original award of 198 restricted shares, 60 of which were withheld on June 3, 2024 |
| 06/02/2021 | Date of original award of 196 restricted shares, 59 of which were withheld on June 3, 2024 |
| 06/02/2022 | Date of original award of 225 restricted shares, 68 of which were withheld on June 3, 2024 |
| 06/03/2024 | Date of share withholding for tax obligations and vesting of restricted shares. |
| 06/05/2024 | Date of signature of the Form 4 filing. |
| 10/01/2024 | 86 restricted shares lapse. |
| 06/02/2025 | 340 and 225 restricted shares lapse. |
| 10/01/2025 | 86 restricted shares lapse. |
| 06/01/2026 | 340 restricted shares lapse. |
| 06/02/2026 | 225 restricted shares lapse. |
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