Form 4: Universal Electronics Director Satjiv Chahil Reports Stock Unit Transactions
SEC Form 4 Filing
Director Satjiv Chahil reports acquisition and disposal of Universal Electronics Inc. stock units related to director compensation.
Summary
- On July 1, 2024, Satjiv Chahil, a director of Universal Electronics Inc. (UEIC), reported transactions involving restricted stock units.
- Chahil disposed of 1,250 common stock units.
- These units were part of a previous grant from July 1, 2023, which vests and is paid quarterly.
- Additionally, Chahil acquired 5,000 restricted stock units on July 1, 2024, as part of director compensation.
- These new units will vest and be paid quarterly over a period ending July 1, 2025.
- Following these transactions, Chahil directly owns 5,000 restricted stock units and indirectly owns 131,311 shares of common stock through a trust account.
Sentiment
Score: 5
Explanation: Neutral sentiment as the document is a standard regulatory filing detailing stock transactions by a company director.
Future Outlook
The newly acquired restricted stock units will vest and be paid quarterly over a period ending July 1, 2025.
Industry Context
This filing is a routine disclosure related to director compensation and stock ownership, common in publicly traded companies.
Stakeholder Impact
- The transactions may have a minor impact on shareholders due to the change in ownership of company stock.
Key Dates
| Date | Description |
|---|---|
| January 22, 2003 | Date of Limited Power of Attorney granted to Richard A. Firehammer, Jr. |
| July 1, 2023 | Date of original grant of restricted stock units, vesting quarterly. |
| July 1, 2024 | Date of transaction: disposal of 1,250 restricted stock units and acquisition of 5,000 restricted stock units. |
| July 1, 2025 | End date for the vesting period of the 5,000 restricted stock units awarded on July 1, 2024. |
| July 2, 2024 | Date of signature for the Form 4 filing. |
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