Form 4: STERIS plc Executive Renato Tamaro Reports Share Withholding for Tax Obligations
SEC Form 4 Filing
Renato Tamaro, V.P. & Corporate Treasurer of STERIS plc, reports the withholding of shares to cover tax obligations upon the vesting of restricted shares.
Summary
- Renato Tamaro, V.P. & Corporate Treasurer of STERIS plc, filed a Form 4 on June 5, 2024, reporting changes in beneficial ownership of STERIS plc ordinary shares.
- On June 3, 2024, shares were withheld to cover tax obligations related to the vesting of restricted shares previously awarded to Mr. Tamaro.
- A total of 175 shares were withheld from 584 shares vesting from an award on June 1, 2020, 129 shares were withheld from 432 shares vesting from an award on June 2, 2021, and 85 shares were withheld from 282 shares vesting from an award on June 2, 2022.
- The withholding price was $228.37 per share.
- Following these transactions, Mr. Tamaro directly owns 6,216 ordinary shares, with 1,252 of these shares being restricted and lapsing at various dates between October 1, 2024, and June 2, 2026.
Sentiment
Score: 7
Explanation: The document is a standard regulatory filing detailing share transactions 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 tax obligations, common in publicly traded companies.
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 where STERIS plc operates.
- Companies like Medtronic, Stryker, and Johnson & Johnson also utilize RSUs as part of their executive compensation packages.
- The vesting schedules and tax withholding practices observed in this filing are generally consistent with industry norms for RSU grants.
Stakeholder Impact
- The transaction has a minimal impact on shareholders as it relates to internal compensation practices.
- Employees are affected through the vesting of their restricted shares and the associated tax implications.
Key Dates
| Date | Description |
|---|---|
| June 1, 2020 | Date of original award of 584 restricted shares, part of which vested on June 3, 2024 |
| June 2, 2021 | Date of original award of 432 restricted shares, part of which vested on June 3, 2024 |
| June 2, 2022 | Date of original award of 282 restricted shares, part of which vested on June 3, 2024 |
| June 3, 2024 | Date of share withholding for tax obligations and vesting of restricted shares. |
| June 5, 2024 | Date Form 4 was filed. |
| October 1, 2024 | 258 restricted shares lapse. |
| June 2, 2025 | 241 restricted shares lapse. |
| June 2, 2025 | 144 restricted shares lapse. |
| June 2, 2025 | 141 restricted shares lapse. |
| October 1, 2025 | 86 restricted shares lapse. |
| June 1, 2026 | 241 restricted shares lapse. |
| June 2, 2026 | 141 restricted shares lapse. |
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