Form 4: Verisign Executive Thomas C. Indelicarto Receives Restricted Stock Units
SEC Form 4 Filing
EVP, General Counsel & Secretary of Verisign, Thomas C. Indelicarto, reports the acquisition of 8,324 restricted stock units (RSUs) on February 10, 2025.
Summary
- On February 10, 2025, Thomas C. Indelicarto, EVP, General Counsel & Secretary of Verisign, was granted 8,324 restricted stock units (RSUs).
- Each RSU represents the right to receive one share of Verisign common stock upon vesting.
- The RSUs vest 25% on February 15, 2026, and then ratably (6.25%) each quarter for the following twelve quarters, subject to applicable taxes upon delivery.
- Following the transaction, Indelicarto beneficially owns 41,421 shares of Verisign common stock.
Sentiment
Score: 7
Explanation: The document reflects a standard executive compensation practice, indicating stability and alignment of interests. The sentiment is neutral to positive.
Positives
- The grant of RSUs aligns the executive's interests with those of the shareholders, incentivizing performance and long-term value creation.
Future Outlook
The vesting schedule of the RSUs extends over three years, suggesting a focus on long-term performance and retention of the executive.
Industry Context
Grants of restricted stock units are a common form of executive compensation in the tech industry, used to attract and retain talent and align their interests with those of shareholders.
Comparison to Industry Standards
- Executive compensation packages, including RSU grants, are common in publicly traded technology companies like Verisign.
- Companies such as GoDaddy, Cloudflare, and Akamai Technologies also utilize similar equity-based compensation strategies to incentivize their executives.
- The vesting schedules and grant sizes are typically benchmarked against industry peers to ensure competitiveness and alignment with performance goals.
Stakeholder Impact
- Shareholders may view the RSU grant positively as it aligns executive compensation with company performance.
- Employees may see this as a positive sign of investment in leadership and the company's future.
Key Dates
| Date | Description |
|---|---|
| 02/10/2025 | Date of RSU award |
| 02/12/2025 | Date of Form 4 filing |
| 02/15/2026 | Initial vesting date of 25% of the RSUs |
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