Form 4: SunCoke Energy CEO Michael Rippey Reports Acquisition of Restricted Share Units

SunCoke Energy's CEO, Michael Rippey, reports the acquisition of 40,851 restricted share units (RSUs) under the company's Omnibus Long-Term Incentive Plan.

Summary

• Michael G Rippey, CEO of SunCoke Energy, Inc. [SXC], reported a transaction on February 22, 2024.
• Rippey acquired 40,851 restricted share units (RSUs) under the SunCoke Energy, Inc. Omnibus Long-Term Incentive Plan.
• These RSUs vest in three equal installments annually, starting on February 22, 2025, and ending on February 22, 2027.
• The conversion rate for the RSUs is 1 for 1, meaning each RSU converts into one share of common stock.
• Following the reported transaction, Rippey beneficially owns 40,851 derivative securities.

Sentiment

Score: 7

Explanation: The document is a neutral report of an insider transaction. The grant of RSUs is generally viewed positively as it aligns management's interests with shareholders, but it's a routine event.

Positives

• The grant of RSUs aligns the CEO's interests with the long-term performance of SunCoke Energy.
• The vesting schedule encourages continued service and commitment from the CEO.

Industry Context

This filing is a routine disclosure of insider transactions, which are common in publicly traded companies. It reflects part of the executive compensation strategy at SunCoke Energy.

Stakeholder Impact

• The grant of RSUs could potentially incentivize the CEO to improve company performance, benefiting shareholders.
• Employees may view the RSU grant as a positive sign of the company's commitment to its leadership.

Key Dates