Form 4: Universal Technical Institute Executive Receives Stock Grant
SEC Form 4 Filing
Lori B. Smith, SVP and Chief Information Officer at Universal Technical Institute, received a grant of 5,847 restricted stock units (RSUs).
Summary
- Lori B. Smith, the SVP and Chief Information Officer of Universal Technical Institute, was granted 5,847 restricted stock units (RSUs) on December 9, 2024.
- These RSUs will vest in three equal installments starting on December 15, 2025.
- Each RSU represents the right to receive one share of Universal Technical Institute's common stock.
- The total reported holdings for Lori B. Smith include the 5,847 newly awarded RSUs, 26,935 previously reported RSUs, and 55,387 shares of common stock.
Sentiment
Score: 7
Explanation: The document reflects a standard executive compensation practice, which is generally viewed positively as it aligns management and shareholder interests. There are no negative implications.
Positives
- The grant of RSUs aligns the executive's interests with those of the shareholders.
- The vesting schedule encourages long-term commitment from the executive.
Risks
- The value of the RSUs is dependent on the future performance of the company's stock price.
Industry Context
Stock grants are a common form of executive compensation in publicly traded companies, used to incentivize performance and align management's interests with shareholders.
Comparison to Industry Standards
- Stock-based compensation is a standard practice across the industry, with companies like Adtalem Global Education and Lincoln Educational Services also using similar methods to incentivize their executives.
- The vesting schedule of three equal installments is also a common practice, aligning with typical industry standards for long-term incentive plans.
Stakeholder Impact
- Shareholders may view the stock grant positively as it incentivizes the executive to improve company performance.
- Employees may see this as a positive sign of the company's commitment to its leadership.
Key Dates
| Date | Description |
|---|---|
| 2024-12-08 | Date of the filing. |
| 2024-12-09 | Date the restricted stock units were granted. |
| 2024-12-10 | Date of signature by attorney-in-fact. |
| 2025-12-15 | Start date for vesting of the restricted stock units. |
Keywords
restricted stock units, RSU, stock grant, executive compensation, Lori B. Smith, Universal Technical Institute, UTI
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