Form 4: Vertiv Holdings Executive Chairman David Cote Reports Changes in Beneficial Ownership
SEC Form 4
David Cote, Executive Chairman of Vertiv Holdings Co, reports gifting fully vested stock options to a grantor retained annuity trust on March 10, 2025.
Summary
- David M. Cote, Executive Chairman of Vertiv Holdings Co, filed a Form 4 on March 11, 2025, reporting changes in beneficial ownership.
- On March 10, 2025, Cote gifted fully vested stock options to a grantor retained annuity trust.
- The trust is managed by Cote, who retains indirect beneficial ownership of the securities.
- The gifted options include those granted on February 7, 2020; February 4, 2021; March 3, 2022; and March 7, 2023.
- Cote also directly holds 200 shares of Class A Common Stock through the David M. Cote 2018 Revocable Trust.
- Cote's spouse directly holds 62,258.03 shares of Class A Common Stock.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing changes in beneficial ownership. It doesn't inherently convey positive or negative sentiment.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This filing indicates a gifting of vested options, which is a common estate planning strategy.
Stakeholder Impact
- The gifting of stock options may have tax implications for David Cote.
- The filing provides transparency to shareholders regarding insider transactions.
Key Dates
| Date | Description |
|---|---|
| 02/07/2020 | Grant date of 115,942 stock options that vested in installments through February 7, 2024 |
| 02/04/2021 | Grant date of 115,942 stock options that vested in installments through February 4, 2025 |
| 03/03/2022 | Grant date of 115,942 stock options that vested in installments through March 3, 2025, with a final vesting date of March 3, 2026 |
| 03/07/2023 | Grant date of 100,000 stock options that vested in installments through March 15, 2024, with future vesting dates through March 15, 2027 |
| 03/07/2024 | Grant date of 50,000 stock options with vesting dates from March 15, 2025, through March 15, 2028 |
| 03/10/2025 | Date of transaction: David Cote gifted fully vested stock options to a grantor retained annuity trust. |
| 03/11/2025 | Date of Form 4 filing. |
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