Form 4: Superior Industries Director Timothy McQuay Awarded Restricted Stock Units
SEC Form 4
Director Timothy McQuay receives 37,338 restricted stock units that vest in one year.
Summary
- On May 22, 2024, Timothy C McQuay, a director of Superior Industries International Inc., was granted 37,338 restricted stock units (RSUs).
- Each RSU represents the right to receive one share of Superior Industries' common stock.
- The RSUs will vest and settle in stock on the first anniversary of the grant date.
Sentiment
Score: 7
Explanation: The sentiment is neutral to slightly positive as it reflects standard executive compensation practices that align director interests with shareholder value.
Positives
- The grant of restricted stock units aligns the director's interests with those of the shareholders, incentivizing him to work towards the company's success.
Future Outlook
The restricted stock units will vest and settle in stock on the first anniversary of the grant date, which could potentially increase the number of outstanding shares.
Industry Context
Granting restricted stock units to directors is a common practice to align their interests with those of shareholders and incentivize long-term value creation.
Stakeholder Impact
- Shareholders may experience slight dilution upon vesting of the restricted stock units.
Key Dates
| Date | Description |
|---|---|
| August 17, 2017 | Date of Power of Attorney execution by Timothy McQuay. |
| May 22, 2024 | Date of transaction: Timothy McQuay acquired 37,338 Restricted Stock Units. |
| May 22, 2025 | Restricted stock units vest and settle in stock on the first anniversary of the grant date. |
| May 24, 2024 | Date of Form 4 filing. |
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