Form 4: Stoneridge Inc. Executive Susan C. Benedict Reports Share Transactions
SEC Form 4 Filing
Susan C. Benedict, CHRO and Assistant GC of Stoneridge Inc., reports the vesting and payout of share units and disposition of shares to cover tax obligations.
Summary
- On March 8, 2024, Susan C. Benedict, CHRO and Assistant GC of Stoneridge Inc., reported transactions involving Stoneridge's common shares.
- 2,865 share units, granted on March 8, 2021, vested and were paid out in company common shares on a one-for-one basis.
- Ms. Benedict disposed of 1,400 shares to satisfy tax obligations at a price of $16.85 per share.
- Following these transactions, Ms. Benedict directly owns 9,724 common shares and 13,947 share units.
- She also holds 29,103 phantom shares that will be paid in cash if she remains employed until June 20, 2025.
Sentiment
Score: 5
Explanation: This is a routine regulatory filing reflecting standard executive compensation practices; neither particularly positive nor negative.
Future Outlook
The reporting person holds 29,103 phantom shares that will be paid in cash equal to the fair market value of one Company Common Share if the Reporting Person remains employed on June 20, 2025.
Industry Context
Form 4 filings are a routine part of regulatory compliance for publicly traded companies, providing transparency into the transactions of company insiders.
Stakeholder Impact
- The transactions have a minimal impact on shareholders as they represent a small percentage of the total outstanding shares.
Key Dates
| Date | Description |
|---|---|
| 03/08/2021 | Reporting Person was granted 2,865 Share Units pursuant to the Company's Long-Term Incentive Plan payable which vested on March 8, 2024 |
| 03/08/2024 | Share units vested and were paid out in company common shares; shares disposed of for tax obligations. |
| 03/11/2024 | Date of Form 4 signature. |
| 06/20/2025 | Date when phantom shares will be paid in cash if the Reporting Person remains employed. |
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