Form 4: Viad Corp CEO Steven Moster Reports Stock Disposals for Tax Obligations and 401(k) Acquisition
SEC Form 4 Filing
Viad Corp's CEO, Steven Moster, reported disposing of shares to cover tax obligations related to vesting restricted stock units and acquiring shares through the company's 401(k) plan.
Summary
- On February 23, 2024, Steven W. Moster, the President & CEO of Viad Corp, reported the disposal of 1,588 shares of common stock at a price of $33.91 per share to cover taxes related to vesting of Restricted Stock Units granted on February 23, 2021.
- He also disposed of 2,854 shares of common stock at $33.91 per share for taxes related to vesting of Restricted Stock Units granted on February 23, 2022.
- Between March 2023 and February 2024, Mr. Moster acquired 661.4771 shares of VVI common stock under the Viad Corp 401(k) plan.
- Following these transactions, Mr. Moster directly owns 248,993 shares of common stock and indirectly owns 666 shares through his spouse and 4,943 shares through his 401(k).
Sentiment
Score: 6
Explanation: The sentiment is neutral as the filing reflects routine transactions related to executive compensation and retirement savings. There are no indications of unusual or concerning activity.
Positives
- The acquisition of shares through the 401(k) plan indicates a continued investment in the company's future by the CEO.
Industry Context
Form 4 filings are standard practice and provide transparency into the transactions of company insiders, allowing investors to track ownership changes and potential alignment of interests.
Comparison to Industry Standards
- Executive compensation packages often include restricted stock units that vest over time, leading to tax obligations when they vest.
- It is common for executives to sell shares to cover these tax liabilities.
- Many companies offer 401(k) plans that allow employees, including executives, to purchase company stock.
Stakeholder Impact
- The transactions have a minimal direct impact on stakeholders, as they are related to standard executive compensation practices.
Key Dates
| Date | Description |
|---|---|
| 02/23/2021 | Date of Restricted Stock Units grant related to tax obligations. |
| 02/23/2022 | Date of Restricted Stock Units grant related to tax obligations. |
| March 2023 February 2024 | Period during which shares were acquired under the Viad Corp 401(k) plan. |
| 02/23/2024 | Date of stock disposal for tax obligations. |
| 02/27/2024 | Date of signature on the Form 4 filing. |
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