Form 4: Super Micro Computer CFO David Weigand Reports Stock Option and Restricted Stock Unit Grants
SEC Form 4 Filing
David Weigand, CFO of Super Micro Computer, reports the acquisition of stock options and restricted stock units.
Summary
- David E. Weigand, the SVP and Chief Financial Officer of Super Micro Computer, Inc. (SMCI), filed a Form 4 on May 7, 2024.
- The report details changes in his beneficial ownership of SMCI securities.
- On May 3, 2024, Weigand acquired 6,255 employee stock options with an exercise price of $782.7, expiring on May 3, 2034.
- These options vest over four years, starting May 3, 2025.
- He also acquired 2,377 restricted stock units (RSUs), each representing a contingent right to receive one share of SMCI common stock.
- These RSUs vest over four years, starting May 10, 2025, and are settled in shares of SMCI common stock.
- Following these transactions, Weigand directly owns 13,035 shares of SMCI common stock, 6,255 employee stock options, and 2,377 restricted stock units.
Sentiment
Score: 7
Explanation: The sentiment is neutral to positive. It reflects standard executive compensation practices, aligning management interests with shareholders through equity ownership. There are no immediate negative implications.
Positives
- The grant of stock options and RSUs aligns the CFO's interests with those of the shareholders.
- The vesting schedules encourage long-term commitment from the CFO.
Future Outlook
The document does not contain specific forward-looking statements beyond the vesting schedules of the options and RSUs.
Industry Context
This filing is a routine disclosure related to executive compensation and is typical for publicly traded companies. It reflects standard practices for incentivizing and retaining key personnel.
Comparison to Industry Standards
- Stock option and RSU grants are common compensation tools used by companies like Super Micro Computer (SMCI) and its peers in the technology sector, such as Dell, HP, and Lenovo.
- The vesting schedules described are fairly standard, aligning with typical industry practices for executive compensation packages.
- The specific amounts and terms of the grants would need to be compared against peer companies to determine if they are above, below, or in line with industry averages.
Stakeholder Impact
- Shareholders: The grants align management's interests with shareholder value.
- Employees: The grants may have a positive impact on employee morale as they see management being rewarded for their contributions.
Key Dates
| Date | Description |
|---|---|
| 05/03/2024 | Date of transaction for stock options and restricted stock units acquisition. |
| 05/03/2024 | Date the employee stock options were granted. |
| 05/03/2034 | Expiration date of the employee stock options. |
| 05/10/2025 | First vesting date for the restricted stock units. |
| 05/03/2025 | First vesting date for the employee stock options. |
| 05/07/2024 | Date of Form 4 filing. |
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