Form 4: STERIS plc Senior VP Disposes of Shares for Tax Obligations Following Restricted Stock Vesting

Julia Madsen, STERIS plc's Sr. VP and GM of Life Sciences, reported the disposition of 463 ordinary shares to cover tax obligations related to the vesting of restricted stock awards.

Summary

• Julia Madsen, Sr. VP and GM, Life Sciences at STERIS plc (STE), reported changes in her beneficial ownership of company ordinary shares.
• On June 2, 2025, a total of 463 ordinary shares were disposed of through 'F' transactions, indicating shares withheld by the issuer to cover tax obligations upon the vesting of restricted stock awards.
• The shares were valued at the NYSE closing market price of $242.08 per share on June 2, 2025.
• Specifically, 207 shares were withheld from 578 restricted shares awarded on May 31, 2023, that vested.
• Additionally, 129 shares were withheld from 360 restricted shares awarded on June 2, 2021, that vested.
• Another 127 shares were withheld from 352 restricted shares awarded on June 2, 2022, that vested.
• Following these transactions, Ms. Madsen beneficially owns 8,958 ordinary shares.
• As of June 3, 2025, 2,700 of these ordinary shares remain restricted, with various vesting dates through June 4, 2027.

Sentiment

Score: 5

Explanation: Neutral. This is a routine, non-discretionary transaction related to executive compensation and tax obligations, which is neither positive nor negative for the company's operational or financial performance.

Positives

• The vesting of restricted shares indicates the maturation of long-term incentive plans for a key executive.
• The executive continues to hold a significant number of shares (8,958), aligning her interests with those of shareholders.

Negatives

• The disposition of shares, even for tax purposes, results in a slight reduction of the executive's direct share ownership.

Future Outlook

This Form 4 filing primarily details past and current insider transactions related to executive compensation and does not provide forward-looking statements or guidance regarding the company's operational or financial performance. It does, however, outline future vesting dates for the executive's remaining restricted shares.

Industry Context

This is a routine insider transaction, common across all industries for executives receiving equity compensation. It reflects the standard process of share withholding for tax purposes upon the vesting of restricted stock awards, which is a widely adopted component of executive compensation structures in publicly traded companies.

Comparison to Industry Standards

• The reported transactions are standard Form 4 filings for tax-related share dispositions upon the vesting of restricted stock, a common practice for executive compensation across publicly traded companies. This aligns with typical compensation structures seen in comparable companies within the healthcare and life sciences sectors.

Related Party Transactions

• The reported transactions involve the disposition of shares by a Senior Vice President of STERIS plc to the issuer for tax withholding purposes upon the vesting of restricted stock awards, which is a routine related-party transaction as part of executive compensation.

Stakeholder Impact

• Shareholders: The transaction represents a routine part of executive compensation and does not indicate a change in executive confidence or company performance. The shares disposed for tax purposes are a minor adjustment to the overall share count.
• Employees: No direct impact beyond the reporting person, as this is an individual executive compensation event.

Next Steps

• Future vesting of remaining restricted shares held by Ms. Madsen on various dates: 542 shares on June 4, 2025; 144 shares on October 1, 2025; 578 shares on June 1, 2026; 352 shares on June 2, 2026; 542 shares on June 4, 2026; and 542 shares on June 4, 2027.

Key Dates

Keywords

STERIS plc, STE, Form 4, Insider Transaction, Restricted Stock, Stock Vesting, Tax Withholding, Julia Madsen, Beneficial Ownership, Executive Compensation