Form 4: TDS Executive Vice President Vicki L. Villacrez Reports Stock Transactions
SEC Form 4 Filing
Executive Vice President and CFO of Telephone & Data Systems Inc., Vicki L. Villacrez, reports the vesting and subsequent sale of shares to cover taxes related to restricted stock units.
Summary
- Vicki L. Villacrez, Executive Vice President & CFO of Telephone & Data Systems Inc., reported transactions involving common stock and restricted stock units (RSUs).
- On May 17, 2024, 29,833 RSUs vested, converting into common shares, and 9,932 shares were withheld to cover taxes at a price of $20.8.
- Following this transaction, Villacrez directly owns 43,243 common shares.
- On May 19, 2024, 5,462 RSUs vested, converting into common shares, and 2,568 shares were withheld to cover taxes at a price of $20.8.
- Following this transaction, Villacrez directly owns 46,137 common shares.
- These RSUs were granted under the 2022 and 2020 Long Term Incentive Plans, with vesting occurring on the annual anniversaries of the grant dates.
Sentiment
Score: 5
Explanation: This is a neutral disclosure of stock transactions related to executive compensation. It doesn't inherently indicate positive or negative sentiment about the company's performance.
Industry Context
This filing is a routine disclosure of insider transactions, which are common for executives receiving stock-based compensation. It provides transparency into the executive's holdings and transactions in the company's stock.
Comparison to Industry Standards
- Executive compensation packages often include restricted stock units (RSUs) that vest over time, aligning executive interests with long-term shareholder value.
- Similar companies like Verizon and AT&T also utilize RSUs as part of their executive compensation plans.
- The vesting schedules and tax withholding practices are standard across the industry.
Stakeholder Impact
- The transactions have a minor impact on shareholders as they involve the vesting of previously awarded equity.
- Employees holding RSUs may see similar vesting events in the future.
Key Dates
| Date | Description |
|---|---|
| 05/17/2023 | Date of RSU award under the 2022 Long Term Incentive Plan. |
| 05/17/2024 | Vesting of 29,833 restricted stock units and withholding of 9,932 shares for taxes. |
| 05/19/2024 | Vesting of 5,462 restricted stock units and withholding of 2,568 shares for taxes. |
| 05/21/2024 | Date of Form 4 filing. |
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