Form 4: Tronox Holdings Executive Sells Shares to Cover Tax Obligations After RSU Vesting

Jeffrey A. Engle, SVP at Tronox Holdings, sold 12,050 shares to cover tax obligations following the vesting of restricted stock units, while also acquiring 10,803 shares from performance-based restricted share units.

Summary

• On March 5, 2024, Jeffrey A. Engle, SVP of Commercial and Strategy at Tronox Holdings plc, acquired 10,803 shares of common stock due to the vesting of performance-based restricted share units.
• The vesting was based on the achievement of certain performance targets for the 2021-2023 performance period.
• On March 6, 2024, Engle sold 12,050 shares of common stock at a weighted average price of $14.9453 per share.
• The sale was to cover tax withholding obligations related to the vesting of previously granted RSUs.
• Following these transactions, Engle beneficially owns 98,409 shares of Tronox Holdings plc.

Sentiment

Score: 5

Explanation: The document describes routine transactions related to executive compensation and tax obligations, indicating a neutral sentiment.

Industry Context

This filing reflects routine transactions related to executive compensation and tax obligations, common in publicly traded companies.

Comparison to Industry Standards

• Executive compensation packages including RSUs are standard practice among publicly traded companies, such as Tronox, to align management interests with shareholder value.
• The sale of shares to cover tax obligations upon vesting of RSUs is a common occurrence among executives in publicly listed companies.
• Companies like Chemours and Venator Materials also utilize similar compensation structures for their executives.

Stakeholder Impact

• The transactions have a minimal direct impact on shareholders, employees, customers, suppliers, and creditors.

Key Dates