Form 4: Visteon Corp Executive Brett D. Pynnonen Reports Acquisition of Performance Rights and Restricted Stock Units

Brett D. Pynnonen, SVP & Chief Legal Officer of Visteon Corp, reported the acquisition of performance rights and restricted stock units on March 1, 2025.

Summary

• On March 1, 2025, Brett D. Pynnonen, SVP & Chief Legal Officer of Visteon Corporation, reported the acquisition of 7,265 performance rights and 4,843 restricted stock units.
• Each performance right represents a contingent right to receive one share of Visteon common stock, vesting based on relative shareholder return and return on invested capital metrics over a three-year performance period, payable in stock subject to tax withholding.
• The restricted stock units vest to the extent of 33% of the units granted on the following March 15th of each year after the date of grant and will be converted and distributed in stock upon vesting, based upon the then current market value of a share of Visteon common stock, subject to tax withholding.
• Following the reported transactions, Pynnonen directly owns 7,265 performance rights and 4,843 restricted stock units.

Sentiment

Score: 7

Explanation: The sentiment is neutral to positive as it reflects standard executive compensation practices and aligns management interests with shareholder value. There are no indications of negative performance or concerns.

Positives

• The acquisition of performance rights and restricted stock units aligns executive compensation with company performance and shareholder value.
• The vesting schedules for both performance rights and restricted stock units incentivize long-term commitment from the executive.

Future Outlook

The vesting of the performance rights and restricted stock units is contingent upon future performance and market conditions.

Industry Context

Executive compensation packages often include performance-based equity awards to align management interests with shareholder value creation, which is a common practice in the automotive technology industry.

Comparison to Industry Standards

• Companies like Aptiv and Magna International also utilize performance-based equity compensation for their executives.
• The specific metrics used for vesting, such as relative shareholder return and return on invested capital, are common benchmarks for assessing executive performance in the automotive industry.
• The vesting schedules and terms of these awards are generally in line with industry standards for executive compensation.

Stakeholder Impact

• Shareholders may view the equity awards positively as they align executive compensation with company performance.
• Employees may see the awards as a sign of confidence in the company's future prospects.

Key Dates