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 102 ordinary shares to cover tax obligations related to the vesting of restricted shares.
Summary
- On May 31, 2024, Karen L. Burton, VP & CAO of STERIS plc, had 102 ordinary shares withheld to cover tax obligations.
- These shares were withheld from 340 restricted shares that vested on the same date.
- The vesting shares were originally awarded on May 31, 2023.
- The withheld shares were valued at $222.88 each, based on the NYSE closing market price on May 31, 2024.
- Following the transaction, Ms. Burton beneficially owns 3,657 ordinary shares, of which 2,117 are restricted and will lapse at various dates.
Sentiment
Score: 7
Explanation: The document reflects a routine transaction related to executive compensation and tax obligations, which is neutral to slightly positive as it indicates the executive is receiving compensation.
Industry Context
This is a routine filing related to executive compensation and tax obligations, common for publicly traded companies.
Comparison to Industry Standards
- Executive compensation practices, including share-based compensation, are common across publicly listed companies.
- Companies like Medtronic, Johnson & Johnson, and Danaher also utilize restricted stock units as part of their executive compensation packages.
- The vesting schedules and tax withholding practices are generally in line with industry standards for executive compensation.
Stakeholder Impact
- The transaction has a minimal direct impact on shareholders as it relates to executive compensation and tax obligations.
Key Dates
| Date | Description |
|---|---|
| October 30, 2023 | Date of Power of Attorney confirmation for authorized representatives. |
| May 31, 2023 | Date the restricted shares were awarded to Ms. Burton. |
| May 31, 2024 | Date of the transaction where 102 shares were withheld for tax obligations and 340 restricted shares vested. |
| June 3, 2024 | Date when 198, 225 and 196 restricted shares lapse. |
| June 4, 2024 | Date of the Form 4 filing. |
| June 2, 2025 | Date when 340, 225 and 196 restricted shares lapse. |
| October 1, 2024 | Date when 86 restricted shares lapse. |
| October 1, 2025 | Date when 86 restricted shares lapse. |
| June 1, 2026 | Date when 340 restricted shares lapse. |
| June 2, 2026 | Date when 225 restricted shares lapse. |
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