Form 4: Teradata CEO Stephen McMillan Receives Restricted Share Units
SEC Form 4 Filing
Stephen McMillan, President and CEO of Teradata Corp, was awarded 115,128 restricted share units on February 27, 2024, according to a Form 4 filing.
Summary
- Stephen McMillan, the President and CEO of Teradata Corp, received 115,128 restricted share units on February 27, 2024.
- These restricted share units will vest in three equal annual installments, starting on February 27, 2025.
- Following this transaction, McMillan directly owns 643,430 shares of Teradata common stock.
Sentiment
Score: 7
Explanation: The sentiment is neutral to positive. The granting of restricted share units is a standard practice and indicates confidence in the company's future performance. It aligns management's interests with shareholders.
Positives
- The award of restricted share units aligns the CEO's interests with those of the shareholders, incentivizing him to improve the company's performance.
Future Outlook
The restricted share units vest over three years, suggesting a long-term commitment from the CEO to the company's success.
Industry Context
Equity compensation is a common practice for aligning executive incentives with shareholder value in the technology industry.
Stakeholder Impact
- Shareholders may view the equity compensation positively as it aligns the CEO's interests with the company's long-term performance.
- Employees may see this as a sign of stability and commitment from the leadership.
Key Dates
| Date | Description |
|---|---|
| 02/27/2024 | Date of transaction: Award of 115,128 restricted share units to Stephen McMillan. |
| 02/27/2025 | First vesting date for the restricted share units, with vesting occurring in three equal annual installments. |
| 02/29/2024 | Date of signature on the Form 4 filing. |
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