Form 4: Visteon Corp Executive Brett D. Pynnonen Reports Stock Transactions

Brett D. Pynnonen, SVP & Chief Legal Officer of Visteon Corp, reports the vesting and conversion of restricted stock units into common stock, along with shares withheld for tax obligations.

Summary

• On March 15, 2024, Brett D. Pynnonen, SVP & Chief Legal Officer of Visteon Corp, had restricted stock units vest and convert into common stock.
• A total of 1,977 restricted stock units vested and were converted into common stock.
• Additionally, 864 shares of common stock were withheld by Visteon to cover income tax obligations related to the vesting of the restricted stock units.
• The price of the common stock was $112.85 on March 15, 2024.
• Following these transactions, Pynnonen directly owns 10,437 shares of Visteon common stock.

Sentiment

Score: 5

Explanation: This is a neutral report on stock transactions, with no inherent positive or negative sentiment.

Industry Context

This filing is a routine disclosure of stock transactions by a company executive, which is common in publicly traded companies. It provides transparency into the executive's holdings and transactions in the company's stock.

Comparison to Industry Standards

• Executive compensation packages often include restricted stock units that vest over time, aligning executive interests with long-term shareholder value.
• Tax withholding on vesting equity is a standard practice.
• Similar filings are made by executives at companies like Aptiv and Magna International, which are also major automotive suppliers.

Stakeholder Impact

• The transactions have a minor impact on shareholders as they reflect routine executive compensation and tax obligations.
• Employees holding similar stock units may be interested in the details of the vesting and tax implications.

Key Dates