Form 4: Universal Display Corp Executive Mauro Premutico Reports Stock Transactions
SEC Form 4
Mauro Premutico, SVP & CLO of Universal Display Corporation, reports acquisition and disposal of company stock related to vesting of restricted stock and performance units.
Summary
- On March 2, 2024, Mauro Premutico disposed of 1,858 shares of common stock at $174.68 to cover tax liabilities related to vesting of restricted stock.
- Also on March 2, 2024, Premutico acquired 2,518 shares of common stock as performance units under the company's Long Term Incentive Plan.
- An additional 1,394 shares were disposed of on March 2, 2024 at $174.68 to cover tax liabilities related to the vesting of restricted stock.
- On March 4, 2024, Premutico acquired 6,242 units under the company's Long Term Incentive Plan as part of 2024 compensation.
- Following these transactions, Premutico directly owns 37,755 shares of Universal Display Corp common stock.
Sentiment
Score: 6
Explanation: The sentiment is neutral as the filing primarily reflects routine stock transactions related to executive compensation. There are no indications of significant positive or negative developments.
Positives
- The vesting of performance units and restricted stock indicates that the company is meeting its performance goals.
- The grant of units under the Long Term Incentive Plan aligns executive compensation with the company's long-term success.
Future Outlook
The units granted on March 4, 2024, will vest in three equal installments on March 4, 2025, 2026, and 2027.
Industry Context
Executive stock transactions are a common occurrence in publicly traded companies and are often tied to compensation plans and performance metrics. This filing provides transparency into the holdings and transactions of a key executive at Universal Display Corporation.
Stakeholder Impact
- The transactions have a minimal direct impact on stakeholders, as they are related to executive compensation and do not significantly alter the company's financial position.
Key Dates
| Date | Description |
|---|---|
| 02/20/2024 | Company's Human Capital Committee certified performance conditions as having occurred. |
| 03/02/2024 | Vesting date of 3,356 shares of restricted stock previously granted to the Reporting Person. |
| 03/02/2024 | Vesting date of 2,518 shares of restricted stock previously granted to the Reporting Person. |
| 03/02/2024 | Vesting date of performance units granted as part of 2021 compensation. |
| 03/04/2024 | Grant date of units under the Company's Long Term Incentive Plan as part of the Reporting Person's 2024 compensation. |
| 03/05/2024 | Date of signature for the Form 4 filing. |
| 03/04/2025 | One-third of the total unit amount vesting. |
| 03/04/2026 | One-third of the total unit amount vesting. |
| 03/04/2027 | One-third of the total unit amount vesting. |
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