Form 4: U.S. Cellular EVP Kevin Lowell Reports Stock Transactions
SEC Form 4
Kevin Lowell, EVP and Chief People Officer at United States Cellular Corp, reports the vesting and subsequent disposal of shares to cover tax obligations related to restricted stock units and performance share units.
Summary
- Kevin Lowell, an executive at United States Cellular Corporation, filed a Form 4 detailing changes in his beneficial ownership of company stock.
- On April 3, 2025, Lowell's restricted stock units (RSUs) vested, resulting in the acquisition of 9,786 common shares.
- He then disposed of 3,182 shares at $68.71 to cover tax obligations related to the vesting.
- On April 4, 2025, additional restricted stock units vested, leading to the acquisition of 10,642 common shares.
- Another 4,347 shares were disposed of at $64.48 to cover taxes.
- Also on April 4, 2025, performance share units vested, resulting in the acquisition of 9,686 common shares.
- A further 3,957 shares were disposed of at $64.48 to cover taxes.
- Following these transactions, Lowell directly owns 22,977 common shares.
Sentiment
Score: 5
Explanation: This is a routine regulatory filing related to executive compensation. It doesn't inherently indicate positive or negative sentiment about the company's performance.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. These filings are closely watched by investors seeking insights into management's perspective on the company's stock.
Stakeholder Impact
- The transactions have a minor dilutive effect on existing shareholders due to the initial issuance of shares.
- The subsequent sale of shares by the executive could exert slight downward pressure on the stock price, although the volume is unlikely to be significant.
Key Dates
| Date | Description |
|---|---|
| April 3, 2023 | Reporting person was granted Restricted Stock Units (RSUs) under the United States Cellular Corporation Long-Term Incentive Plan. |
| November 27, 2023 | The award was adjusted by the Long-Term Incentive Compensation Committee (LTICC) to provide for a payout at no less than 75% of the target opportunity of such award. |
| December 31, 2024 | Based on company performance, the LTICC certified on February 19, 2025 that the reporting person was entitled to 91% of his target opportunity. |
| February 19, 2025 | The LTICC certified that the reporting person was entitled to 91% of his target opportunity. |
| April 3, 2025 | Restricted Stock Units (RSUs) vested, resulting in the acquisition of 9,786 common shares. |
| April 4, 2022 | Restricted stock units were awarded under the United States Cellular Corporation Long-Term Incentive Plan. |
| April 4, 2025 | Additional restricted stock units vested, leading to the acquisition of 10,642 common shares and performance share units vested, resulting in the acquisition of 9,686 common shares. |
| 04/07/2025 | Date of signature by Julie D. Mathews, by power of attorney. |
Keywords
Form 4, Beneficial Ownership, Stock Transactions, Restricted Stock Units, Performance Shares, USM, U.S. Cellular, Kevin Lowell, Vesting, Tax Withholding
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