Form 4: Teva Pharmaceutical Industries EVP, CFO Eliyahu Sharon Kalif Reports Share Transactions
SEC Form 4
Eliyahu Sharon Kalif, EVP and CFO of Teva Pharmaceutical Industries, reports the vesting and disposal of restricted share units, resulting in changes to his beneficial ownership of ordinary shares.
Summary
- On March 4, 2025, Eliyahu Sharon Kalif, the EVP and CFO of Teva Pharmaceutical Industries, engaged in transactions involving restricted share units.
- These transactions involved the vesting of restricted share units granted on March 4, 2022, March 4, 2024 and January 28, 2025.
- The vested restricted share units were converted into ordinary shares, which were then disposed of.
- Specifically, 33,512 units from the March 4, 2022 grant vested, 23,251 units from the March 4, 2024 grant vested, and 183,169 units from the January 28, 2025 grant vested due to satisfaction of performance criteria.
- Following these transactions, Kalif's beneficial ownership of ordinary shares changed.
Sentiment
Score: 5
Explanation: This is a neutral disclosure of executive share transactions, with no inherent positive or negative implications for the company's performance.
Industry Context
This filing is a routine disclosure related to executive compensation and is typical for publicly traded companies. It provides transparency into the equity holdings and transactions of key executives.
Comparison to Industry Standards
- Executive compensation packages often include restricted share units that vest over time, aligning executive interests with long-term shareholder value.
- The vesting schedules and performance criteria associated with these units are common practices in the pharmaceutical industry and are designed to incentivize executives to achieve specific company goals.
- Companies like Pfizer, Johnson & Johnson, and Novartis also utilize similar equity-based compensation strategies for their executives.
Stakeholder Impact
- The transactions have a minor impact on shareholders as they reflect the standard executive compensation practices.
- Employees may be indirectly affected by the performance incentives tied to the vesting of these units.
Key Dates
| Date | Description |
|---|---|
| March 4, 2022 | Restricted share units were granted, with 33,512 vesting on each of March 4, 2023, March 4, 2024 and March 4, 2025, and 33,512 vesting on March 4, 2026. |
| March 4, 2023 | 33,512 restricted share units from the March 4, 2022 grant vested. |
| March 4, 2024 | Restricted share units were granted, with 23,251 vesting on March 4, 2025, 23,251 vesting on each of March 4, 2026 and March 4, 2027, and 23,252 vesting on March 4, 2028; also 33,512 restricted share units from the March 4, 2022 grant vested. |
| January 28, 2025 | Restricted share units were granted pursuant to the satisfaction of performance criteria. |
| March 4, 2025 | Transactions involving restricted share units and ordinary shares occurred; 33,512 units from the March 4, 2022 grant vested, 23,251 units from the March 4, 2024 grant vested, and 183,169 units from the January 28, 2025 grant vested. |
| March 4, 2026 | Future vesting date for restricted share units. |
| March 4, 2027 | Future vesting date for restricted share units. |
| March 4, 2028 | Future vesting date for restricted share units. |
| March 06, 2025 | Date of the report. |
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