Form 4: Stoneridge Inc. Executive Susan C. Benedict Reports Changes in Beneficial Ownership
SEC Form 4 Filing
Susan C. Benedict, CHRO and Assistant GC of Stoneridge Inc., reports acquisition of share units and phantom shares under the company's Long-Term Incentive Plan.
Summary
- On March 10, 2025, Susan C. Benedict, CHRO and Assistant GC of Stoneridge Inc., reported changes in her beneficial ownership of the company's securities.
- She acquired 45,921 share units under the company's Long-Term Incentive Plan, which are payable on a one-for-one basis in company common shares if she remains employed until March 1, 2028.
- She also holds 29,103 phantom shares granted under the same plan, which will be paid in cash equal to the fair market value of one company common share if she remains employed on June 20, 2025.
- Following these transactions, Benedict directly owns 13,072 common shares and 63,811 share units.
Sentiment
Score: 6
Explanation: The document is a routine regulatory filing, so the sentiment is neutral. The grants could be seen as a positive sign of incentivizing management, but it's not a major event.
Positives
- The grant of share units and phantom shares to a key executive suggests the company's commitment to incentivizing and retaining its leadership.
Risks
- The value of the share units is dependent on the executive's continued employment with the company until the vesting date.
Future Outlook
The document does not contain specific forward-looking statements about the company's overall financial performance, but it does outline the vesting schedule for the granted share units and phantom shares.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This filing indicates changes in the holdings of a key executive, which can be of interest to investors.
Stakeholder Impact
- The changes in beneficial ownership may be of interest to shareholders, as they provide insight into the alignment of management's interests with those of the company.
Key Dates
| Date | Description |
|---|---|
| 03/10/2025 | Date of the reported transaction. |
| 03/12/2025 | Date of signature for the report. |
| 06/20/2025 | Date when phantom shares will be paid out if the Reporting Person remains employed. |
| 03/01/2028 | Date when share units become payable if the Reporting Person remains employed. |
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