Form 4: TTEC Holdings GC & CRO Margaret B. McLean Reports Stock Transactions
SEC Form 4 Filing
Margaret B. McLean, GC & CRO of TTEC Holdings, reports the vesting of restricted stock units and subsequent withholding of shares to cover tax obligations.
Summary
- On July 1, 2024, Margaret B. McLean, GC & CRO of TTEC Holdings, reported transactions involving restricted stock units (RSUs).
- These transactions included the vesting of RSUs and the subsequent withholding of shares to satisfy tax obligations.
- No shares were sold as part of these transactions.
- The vesting relates to RSUs initially received on July 1, 2020, July 1, 2021 and July 1, 2022, which vest in four installments.
- Following these transactions, McLean directly owns 56,593 shares of TTEC Holdings.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing stock transactions, and as such, carries a neutral sentiment.
Industry Context
This filing is a routine disclosure of insider transactions, which are common for executives receiving stock-based compensation. It provides transparency into the executive's holdings and transactions in the company's stock.
Comparison to Industry Standards
- Stock-based compensation is a common practice across the technology and customer experience industries.
- Companies like Teleperformance, Concentrix, and Sitel Group also utilize RSUs and stock options as part of their executive compensation packages.
- The vesting schedules and tax withholding practices described in this filing are generally consistent with industry norms.
Stakeholder Impact
- The transactions have a minimal direct impact on stakeholders, as they primarily reflect internal compensation adjustments.
- The disclosure provides transparency to shareholders regarding executive compensation and ownership.
Key Dates
| Date | Description |
|---|---|
| 07/01/2020 | Initial grant date of 7,007 time-based RSUs. |
| 07/01/2021 | RSUs from 2020 began vesting in four installments. |
| 07/01/2021 | Initial grant date of 2,576 time-based RSUs. |
| 07/01/2022 | RSUs from 2021 began vesting in four installments. |
| 07/01/2022 | Initial grant date of 3,373 time-based RSUs. |
| 07/01/2023 | RSUs from 2022 began vesting in four installments. |
| 07/01/2024 | Vesting of RSUs and withholding of shares for tax obligations. |
| 07/03/2024 | Date of Form 4 filing. |
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