Form 4: TD SYNNEX CEO Patrick Zammit Reports Stock Transactions Following Vesting of Restricted Stock Units

TD SYNNEX CEO Patrick Zammit acquired 3,970 shares of common stock upon vesting of restricted stock units and disposed of 636 shares to cover tax obligations.

Summary

• Patrick Zammit, the CEO of TD SYNNEX Corp, reported transactions involving the company's common stock on January 7, 2025.
• He acquired 3,970 shares of common stock as a result of restricted stock units vesting.
• These restricted stock units were initially awarded on March 31, 2022, and were subject to performance metrics over a three-year period ending November 30, 2024.
• Concurrently, Mr. Zammit disposed of 636 shares to satisfy tax obligations related to the vesting, at a price of $123.23 per share.
• Following these transactions, Mr. Zammit's direct holdings in TD SYNNEX common stock decreased from 173,063 to 172,427 shares.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction related to executive compensation. The vesting of stock units suggests the company met performance targets, which is positive. The sale of shares for tax purposes is neutral.

Positives

• The vesting of restricted stock units indicates that performance metrics were met, which is a positive sign for the company's performance.
• The acquisition of shares by the CEO demonstrates his continued stake in the company's success.

Negatives

• The disposal of shares, while for tax purposes, slightly reduces the CEO's direct holdings in the company.

Risks

• There are no specific risks mentioned in this document, as it primarily details stock transactions related to vesting and tax obligations.

Industry Context

This filing is a routine disclosure of stock transactions by a company executive, which is common in publicly traded companies. It reflects the standard practice of compensating executives with equity and managing tax obligations related to such compensation.

Comparison to Industry Standards

• The vesting of restricted stock units and subsequent tax-related sales are standard practices in executive compensation across the technology industry.
• Many companies, such as Apple, Microsoft, and Dell, use similar equity-based compensation plans for their executives.
• The specific performance metrics and vesting schedules vary by company, but the general structure is consistent with industry norms.

Stakeholder Impact

• The stock transactions have a minor impact on shareholders, as they reflect the standard practice of executive compensation.
• The vesting of stock units indicates that the company met performance targets, which is a positive sign for shareholders.

Key Dates

Keywords

TD SYNNEX, Patrick Zammit, stock transaction, restricted stock units, vesting, insider trading, SEC Form 4, executive compensation