Form 4: Tupperware Brands EVP, CFO Mariela Matute Reports Tax Liability Share Withholding
SEC Form 4
Mariela Matute, EVP and CFO of Tupperware Brands, had shares withheld to cover tax liabilities upon the vesting of restricted stock units.
Summary
- On May 24, 2024, Mariela Matute, EVP and CFO of Tupperware Brands, had 3,694 shares of common stock withheld by the issuer to cover tax liabilities.
- This withholding occurred upon the vesting of 1/3 of her May 24, 2022 restricted stock units award.
- Following the transaction, Matute beneficially owns 38,116 shares of Tupperware Brands Corp.
- The shares were withheld at a price of $1.86.
Sentiment
Score: 5
Explanation: This is a neutral event related to executive compensation and tax obligations; it doesn't inherently indicate positive or negative sentiment.
Industry Context
This is a routine Form 4 filing related to executive compensation and tax obligations, common among publicly traded companies.
Comparison to Industry Standards
- Executive compensation practices, including the use of restricted stock units and share withholding for tax purposes, are standard across publicly traded companies.
- Companies like Newell Brands (NWL) and Helen of Troy (HELE) also utilize similar equity-based compensation plans for their executives.
Stakeholder Impact
- The transaction has a minimal impact on shareholders as it relates to executive compensation and tax obligations.
Key Dates
| Date | Description |
|---|---|
| 2022/05/18 | Power of Attorney executed by Mariela Matute. |
| 2022/05/24 | Mariela Matute was granted 45,404 restricted stock units with a vesting schedule of 3 equal installments beginning on the first anniversary of the grant. |
| 2024/05/24 | 3,694 shares were withheld by Tupperware Brands to cover tax liability upon vesting of restricted stock units. |
| 2024/05/28 | Date of signature by attorney-in-fact on the Form 4 filing. |
Keywords
Form 4, Beneficial Ownership, Mariela Matute, Tupperware Brands, TUP, EVP, CFO, Restricted Stock Units, Tax Liability, Share Withholding
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