Form 4: Verint Systems CEO Dan Bodner Receives Stock Grant
SEC Form 4 Filing
Dan Bodner, Chairman and CEO of Verint Systems Inc., was granted 128,553 shares of common stock on April 22, 2024, as restricted stock units.
Summary
- On April 22, 2024, Dan Bodner, the Chairman and CEO of Verint Systems Inc., received a grant of 128,553 shares of common stock.
- These shares are in the form of restricted stock units (RSUs).
- The RSUs vest in six installments: 1/6 on September 12, 2024, 1/6 on April 12, 2025, 1/6 on September 12, 2025, 1/6 on April 12, 2026, 1/6 on September 12, 2026, and 1/6 on April 12, 2027.
- Following this transaction, Bodner directly owns 1,026,787 shares of Verint Systems Inc. common stock.
Sentiment
Score: 7
Explanation: The sentiment is neutral to positive. The grant of RSUs is a standard practice and indicates confidence in the company's future performance. The long-term vesting schedule suggests a commitment from the CEO.
Positives
- The grant of restricted stock units aligns the CEO's interests with those of the shareholders, incentivizing long-term value creation.
Future Outlook
The vesting schedule of the restricted stock units extends to April 2027, suggesting a long-term commitment from the CEO.
Industry Context
Granting stock options and restricted stock units to executives is a common practice in the technology industry to align management's interests with those of shareholders and incentivize long-term growth.
Comparison to Industry Standards
- Comparing Verint's executive compensation structure to companies like NICE Ltd. and Pegasystems Inc. would provide a benchmark for assessing the size and vesting schedule of the RSU grant.
- Analyzing similar grants at companies such as Salesforce or Oracle could offer insights into industry norms for executive equity compensation.
Stakeholder Impact
- Shareholders may view the RSU grant positively as it aligns the CEO's interests with long-term value creation.
- Employees may see the grant as a sign of confidence in the company's future.
Key Dates
| Date | Description |
|---|---|
| 04/22/2024 | Date of transaction: Grant of restricted stock units. |
| 04/23/2024 | Date of signature by Attorney-in-Fact. |
| 09/12/2024 | First vesting date for 1/6 of the restricted stock units. |
| 04/12/2025 | Second vesting date for 1/6 of the restricted stock units. |
| 09/12/2025 | Third vesting date for 1/6 of the restricted stock units. |
| 04/12/2026 | Fourth vesting date for 1/6 of the restricted stock units. |
| 09/12/2026 | Fifth vesting date for 1/6 of the restricted stock units. |
| 04/12/2027 | Final vesting date for 1/6 of the restricted stock units. |
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