Form 4: Tempur Sealy EVP Bhaskar Rao Reports Stock Transactions
SEC Form 4
Bhaskar Rao, EVP & Chief Financial Officer of Tempur Sealy International, reports the vesting and subsequent disposal of restricted stock units and performance restricted stock units on January 3, 2025 and January 4, 2025.
Summary
- Bhaskar Rao, the EVP & Chief Financial Officer of Tempur Sealy International, filed a Form 4 detailing changes in beneficial ownership of company stock.
- The transactions occurred on January 3, 2025 and January 4, 2025.
- Rao acquired shares through the vesting of restricted stock units (RSUs) and performance restricted stock units (PRSUs).
- Simultaneously, Rao disposed of shares to cover tax obligations at a price of $55.74 per share.
- The transactions involved multiple tranches of RSUs and PRSUs granted in previous years (2021, 2022, 2023, and 2024) that vested according to their respective schedules.
- Following these transactions, Rao directly owns 407,560 shares of Tempur Sealy International common stock and various derivative securities.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing, so the sentiment is neutral.
Industry Context
This filing is a routine disclosure related to executive compensation and is a common practice among publicly traded companies. It provides transparency into the stock-based compensation of key executives.
Stakeholder Impact
- The transactions have a minor impact on shareholders as they relate to executive compensation and ownership.
- Employees may be interested in the details of executive compensation packages.
Key Dates
| Date | Description |
|---|---|
| 01/04/2021 | Reporting person was granted 29,290 restricted stock units, vesting in four annual installments beginning on the first anniversary of the grant date. |
| 02/22/2022 | The Compensation Committee of the Board of Directors determined that the maximum performance conditions for the performance restricted stock units (PRSUs) granted on January 4, 2021 were achieved. |
| 01/04/2022 | Reporting person was granted 16,076 restricted stock units, vesting in four annual installments beginning on the first anniversary of the grant date. |
| 01/04/2022 | Reporting person was granted a target number of performance shares, with the payout from 0 to 300% of target based on the Company's adjusted EBITDA, Relative TSR Percentile and qualitative ESG performance. |
| 02/17/2023 | The Compensation Committee of the Board of Directors determined the payout for each metric on February 17, 2023 resulting in the reported number of performance shares received. |
| 01/04/2023 | Reporting person was granted 22,187 restricted stock units, vesting in four annual installments beginning on the first anniversary of the grant date. |
| 01/04/2023 | Reporting person was granted a target number of performance shares, with the payout from 0 to 300% of target based on the Company's adjusted EBITDA, Relative TSR Percentile and qualitative ESG performance. |
| 02/16/2024 | The Compensation Committee of the Board of Directors determined the payout for each metric on February 16, 2024 resulting in the reported number of performance shares received. |
| 01/04/2024 | Reporting person was granted 16,173 restricted stock units, vesting in four annual installments beginning on the first anniversary of the grant date. |
| 01/03/2025 | Date of earliest transaction. |
| 01/03/2025 | Reporting person was granted 13,904 restricted stock units, vesting in four annual installments beginning on January 4, 2026. |
| 01/06/2025 | Date of signature. |
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