Form 4: Verra Mobility Corp: Chief Accounting Officer Hiten M. Patel Reports Stock Unit Grants
SEC Form 4 Filing
Hiten M. Patel, Chief Accounting Officer of Verra Mobility Corp, reports the grant of restricted stock units.
Summary
- Hiten M. Patel, the Chief Accounting Officer of Verra Mobility Corp, filed a Form 4 on August 12, 2024.
- The report details the grant of restricted stock units (RSUs) on August 9, 2024.
- Patel received 6,368 RSUs vesting in two equal annual installments starting August 9, 2025.
- He also received 4,025 RSUs vesting in four equal annual installments starting August 9, 2025.
- Each RSU represents a contingent right to receive one share of Verra Mobility Corporation Class A Common Stock.
- Vested shares will be delivered to Patel on each settlement date.
Sentiment
Score: 7
Explanation: The document is a routine regulatory filing regarding executive compensation. It's neutral to slightly positive as it indicates continued investment in key personnel.
Positives
- The grant of RSUs to the Chief Accounting Officer aligns his interests with those of the shareholders.
- The vesting schedule encourages long-term commitment from the executive.
Future Outlook
The document does not contain any specific forward-looking statements regarding the company's future performance.
Industry Context
This is a standard disclosure related to executive compensation and is common in publicly traded companies. It reflects the company's approach to incentivizing and retaining key personnel.
Comparison to Industry Standards
- Equity compensation is a common practice among publicly traded companies to align executive interests with shareholder value.
- Vesting schedules, such as the annual installments described, are typical for RSU grants.
- Companies like Paycom and Fleetcor also use similar equity-based compensation plans for their executives.
Stakeholder Impact
- Shareholders may view the RSU grants as a positive sign, indicating the company's commitment to retaining key executives.
- Employees may see this as a standard practice for executive compensation.
Key Dates
| Date | Description |
|---|---|
| 08/09/2024 | Date of the restricted stock unit grants. |
| 08/09/2025 | First vesting date for both RSU grants. |
| 08/12/2024 | Date the Form 4 was filed. |
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