Form 4: Pursuit Attractions & Hospitality CEO David Barry Reports Acquisition of Restricted Stock Units
SEC Form 4 Filing
David W. Barry, President and CEO of Pursuit Attractions & Hospitality, reports the acquisition of restricted stock units and shares under the company's 401(k) plan.
Summary
- David W. Barry, the President and CEO of Pursuit Attractions & Hospitality, filed a Form 4 on January 3, 2025, reporting changes in beneficial ownership of the company's stock.
- On January 2, 2025, Barry acquired 21,619 shares of common stock through restricted stock units (RSUs) granted under the company's Amended & Restated 2017 Omnibus Incentive Plan.
- These RSUs will vest in three equal tranches on January 2, 2026, January 2, 2027, and January 3, 2028, contingent upon continued service with the company.
- Between March 2024 and January 2025, Barry also acquired 285.4856 shares of common stock through the company's 401(k) plan.
- Following these transactions, Barry directly owns 109,937 shares of common stock and indirectly owns 2,354.9485 shares through the 401(k) plan.
- The filing also includes a Limited Power of Attorney, effective February 21, 2024, authorizing Jonathan A. Massimino and Michael Archiopoli to act on Barry's behalf for Section 16 reporting obligations.
Sentiment
Score: 6
Explanation: The document is a neutral regulatory filing. The acquisition of RSUs is generally a positive sign, but it's a routine event.
Positives
- The grant of restricted stock units to the CEO aligns his interests with those of the shareholders, incentivizing him to improve the company's performance.
- The vesting schedule of the RSUs encourages long-term commitment from the CEO.
- The CEO's participation in the 401(k) plan demonstrates confidence in the company's future.
Risks
- The vesting of the RSUs is contingent upon continued service, so the company's performance could be negatively impacted if the CEO were to leave before the vesting dates.
- The value of the shares acquired through the 401(k) plan is subject to market fluctuations, which could result in a loss of value for the CEO.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. The acquisition of restricted stock units is a common form of executive compensation, aligning management's interests with those of shareholders.
Stakeholder Impact
- Shareholders may view the RSU grant as a positive sign, aligning management's interests with their own.
- Employees may see the CEO's participation in the 401(k) plan as a sign of confidence in the company's future.
Key Dates
| Date | Description |
|---|---|
| 2024-02-21 | Limited Power of Attorney granted to Jonathan A. Massimino and Michael Archiopoli. |
| 2024-03 | Start date for acquisition of shares under the 401(k) plan. |
| 2025-01-02 | Date of restricted stock units grant. |
| 2025-01 | End date for acquisition of shares under the 401(k) plan. |
| 2025-01-02 | Date of transaction reported on Form 4. |
| 2025-01-03 | Date of Form 4 filing. |
| 2026-01-02 | First vesting date for restricted stock units. |
| 2027-01-02 | Second vesting date for restricted stock units. |
| 2028-01-03 | Third vesting date for restricted stock units. |
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