Form 4: STERIS plc Executive Kenneth Kohler Reports Share Withholding for Tax Obligations
SEC Form 4 Filing
Kenneth Kohler, SVP & GM at STERIS plc, reports the withholding of shares to cover tax obligations upon the vesting of restricted shares.
Summary
- On June 3, 2024, Kenneth Kohler, SVP & GM of AST at STERIS plc, had shares withheld to cover tax obligations related to the vesting of restricted shares.
- A total of 46 shares were withheld from 154 restricted shares that vested, related to shares awarded on June 1, 2020.
- Additionally, 40 shares were withheld from 131 restricted shares that vested, related to shares awarded on June 2, 2021.
- Furthermore, 68 shares were withheld from 225 restricted shares that vested, related to shares awarded on June 2, 2022.
- All withheld shares were valued at $228.37, the NYSE closing market price on June 3, 2024.
- Following these transactions, Mr. Kohler beneficially owns 1,944 ordinary shares, with 1,327 of these shares being restricted and lapsing at various dates in 2025 and 2026.
Sentiment
Score: 7
Explanation: The document reflects standard executive compensation practices and tax obligations, indicating a neutral to slightly positive sentiment as it confirms the executive's compensation package is being executed as planned.
Industry Context
This is a routine Form 4 filing related to executive compensation and tax obligations, common for publicly traded companies like STERIS plc.
Comparison to Industry Standards
- Share withholding for tax obligations upon vesting of restricted stock units (RSUs) is a standard practice across publicly traded companies.
- Companies like Medtronic, Johnson & Johnson, and Danaher also utilize RSUs as part of their executive compensation packages, and similar withholding practices are expected.
- The specific number of shares withheld depends on the individual's tax bracket and the company's compensation policies, which are generally aligned with industry benchmarks.
Stakeholder Impact
- Shareholders are indirectly impacted as the company manages executive compensation and complies with tax regulations.
- The executive is directly impacted through the vesting of shares and the subsequent tax obligations.
Key Dates
| Date | Description |
|---|---|
| 06/01/2020 | Date of original award of 154 restricted shares, 46 of which were withheld on June 3, 2024. |
| 06/02/2021 | Date of original award of 131 restricted shares, 40 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 transaction: Shares withheld for tax obligations upon vesting of restricted shares. |
| 06/05/2024 | Date of report filing. |
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