Form 4: Tetra Tech CEO Dan Batrack Reports Stock Transactions Following RSU Vesting
SEC Form 4 Filing
Tetra Tech's CEO, Dan Batrack, reported the acquisition of 21,255 shares through restricted stock unit vesting and the disposal of 11,708 shares to cover tax obligations.
Summary
- Dan Batrack, CEO of Tetra Tech, reported transactions related to his holdings of company stock.
- On November 30, 2024, 21,255 restricted stock units (RSUs) vested, resulting in the acquisition of 21,255 shares of common stock.
- Also on November 30, 2024, 11,708 shares were disposed of at a price of $41.51 per share to cover tax liabilities associated with the vesting of the RSUs.
- Following these transactions, Mr. Batrack directly owns 225,718 shares of Tetra Tech common stock.
- The reported transactions also include an award of 21,255 new RSUs that vest over four years.
Sentiment
Score: 6
Explanation: The document reflects routine transactions related to executive compensation. There is no indication of positive or negative sentiment, it is a neutral event.
Future Outlook
The newly awarded RSUs will vest over the next four years, potentially increasing Mr. Batrack's share ownership in the future.
Industry Context
This is a routine filing related to executive compensation and is common for publicly traded companies. It reflects the standard practice of granting and vesting restricted stock units to key personnel.
Comparison to Industry Standards
- The vesting of restricted stock units and subsequent sale of shares to cover tax obligations is a common practice among publicly traded companies.
- Many companies use RSUs as part of their executive compensation packages to align management's interests with those of shareholders.
- The 25% annual vesting schedule is a typical vesting structure for RSUs.
Stakeholder Impact
- The transactions have a minor impact on shareholders as they reflect routine executive compensation practices.
- The vesting of RSUs aligns management's interests with those of shareholders.
Key Dates
| Date | Description |
|---|---|
| 09/06/2024 | The balance of 17,003 shares was updated pursuant to a 5 to 1 forward stock split, resulting in an additional 68,012 shares of common stock. |
| 11/30/2024 | 21,255 restricted stock units (RSUs) vested, and 11,708 shares were disposed of to cover tax liabilities. |
| 12/03/2024 | Date of the signature of the Form 4 filing. |
Keywords
Tetra Tech, Dan Batrack, stock transaction, restricted stock units, RSU, insider trading, Form 4, share ownership
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