Form 4: STERIS plc Executive Reports Tax Withholding Share Transaction

Mary Clare Fraser, SVP & Chief HRO of STERIS plc, reports the withholding of 236 ordinary shares to cover tax obligations upon the vesting of restricted shares.

Summary

• On June 3, 2024, Mary Clare Fraser, SVP & Chief HRO of STERIS plc, had 236 ordinary shares withheld to cover tax obligations.
• These shares were withheld from 791 restricted shares that vested on the same date.
• The withheld shares were valued at $228.37 each, based on the NYSE closing market price on June 3, 2024.
• Following the transaction, Ms. Fraser beneficially owns 9,092 ordinary shares, with 6,869 of these shares being restricted.
• The restrictions on these ordinary shares lapse at various dates in the future: 1,836 on June 2, 2025; 692 on October 1, 2025; 2,313 on June 1, 2026; and 2,028 on June 2, 2026.

Sentiment

Score: 5

Explanation: This is a routine transaction related to executive compensation and tax obligations, with no indication of positive or negative sentiment.

Industry Context

Executive share transactions are a routine part of corporate governance and are closely monitored by investors for insights into management's perspective on the company's performance and future prospects.

Comparison to Industry Standards

• Executive compensation practices, including share-based awards and tax withholding, are common across publicly traded companies.
• Companies like Medtronic, Johnson & Johnson, and Abbott Laboratories also utilize restricted stock units (RSUs) as part of their executive compensation packages.
• The vesting schedules and tax withholding mechanisms are generally aligned with industry norms and regulatory requirements.

Stakeholder Impact

• The transaction has a minimal direct impact on shareholders, as it involves the withholding of shares for tax purposes.
• Employees may be interested in the details of executive compensation and share ownership.

Key Dates