Form 4: Upbound Group Executive Ann Davids Reports Stock Transactions Following Vesting of Restricted Stock Units

Ann Davids, EVP and Chief Marketing Officer of Upbound Group, reports acquisition and disposal of company stock related to the vesting of performance-based restricted stock units.

Summary

• On February 11, 2025, Ann Davids, EVP and Chief Marketing Officer of Upbound Group, acquired 7,607 shares of common stock at $29.5 per share due to the vesting of performance-based restricted stock units.
• The vesting was based on the company's relative TSR performance over a three-year period ending December 31, 2024, which ranked in the 45th percentile, resulting in 75% vesting.
• 2,080 shares were withheld to cover taxes related to the vesting.
• Following these transactions, Davids directly owns 80,811 shares and indirectly owns 148 shares through the company's 401(k) plan.
• A correction was made to adjust the total shares held directly, decreasing by 139 shares previously reported as directly owned and now reported as indirectly owned in the 401(k) account.
• Additionally, the number of time-based restricted stock units acquired was underreported by 112 shares in the Form 4 filed on February 28, 2023, which has been corrected.

Sentiment

Score: 6

Explanation: The document is a routine disclosure of stock transactions by an executive. The vesting of restricted stock units suggests moderate company performance. The sentiment is neutral.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This filing indicates the vesting of performance-based restricted stock units, which are a common form of executive compensation tied to company performance.

Comparison to Industry Standards

• Performance-based equity compensation is a common practice among publicly traded companies to align executive incentives with shareholder value.
• The vesting of 75% of the restricted stock units based on the 45th percentile TSR ranking suggests a moderate level of performance relative to peers.
• Companies like Target, Walmart, and Best Buy also use similar performance metrics for executive compensation.

Stakeholder Impact

• The stock transactions may have a minor impact on shareholders due to the change in ownership by a company executive.
• The vesting of restricted stock units incentivizes the executive to continue driving company performance.

Key Dates

Keywords

Form 4, Upbound Group, Stock Transaction, Restricted Stock Units, Beneficial Ownership, Ann Davids