Form 4: Vistra Corp. CEO James A. Burke Reports Stock Transactions Following Vesting of Restricted Stock Units
SEC Form 4
Vistra Corp.'s CEO, James A. Burke, reported the acquisition and disposal of company stock related to the vesting of performance-based and restricted stock units, along with tax withholdings.
Summary
- On February 24, 2025, James A. Burke, the President and CEO of Vistra Corp., reported transactions involving Vistra Corp. common stock.
- These transactions include the acquisition of 168,188 shares and 96,710 shares of common stock upon the vesting of performance-based restricted stock units.
- The company withheld 65,134 shares and 38,056 shares to cover taxes related to the vesting of performance-based restricted stock units.
- Additionally, 11,031 shares and 13,991 shares were withheld to cover taxes related to the vesting of restricted stock units.
- All transactions occurred at a price of $142.76 per share.
- Following these transactions, Burke directly owns 422,848 shares of Vistra Corp. common stock.
- Burke also indirectly owns 469,764 shares through JAMEB, LP, 34,000 shares through the James A. Burke 2012 Irrevocable Trust, and 259 shares through the Marti E. Burke 2012 Irrevocable Trust.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing stock transactions, and does not inherently convey positive or negative sentiment. It's a neutral disclosure of information.
Industry Context
This filing is a routine disclosure of insider transactions, which are common for executives who receive stock-based compensation. It provides transparency to investors regarding the trading activities of company insiders.
Comparison to Industry Standards
- Form 4 filings are standard practice for publicly traded companies in the United States, ensuring transparency in insider trading activities.
- Companies like NextEra Energy, Duke Energy, and Exelon also have executives who regularly file Form 4s related to stock options and restricted stock units.
- The vesting schedules and performance criteria for restricted stock units are typically aligned with industry benchmarks to incentivize executive performance and align their interests with shareholders.
Stakeholder Impact
- The transactions may have a minor impact on shareholders due to the change in ownership of shares.
- The vesting of stock units incentivizes the CEO, potentially aligning his interests with those of the shareholders.
Key Dates
| Date | Description |
|---|---|
| 12/03/2012 | Date of the James A. Burke 2012 Irrevocable Trust |
| 10/16/2012 | Date of the Marti E. Burke 2012 Irrevocable Trust |
| 12/31/2024 | End date of the three-year performance period for the performance-based restricted stock units |
| 02/20/2025 | Date the Issuer's Social Responsibility and Compensation Committee of the Board of Directors certified the applicable performance criteria |
| 02/24/2025 | Date of the reported stock transactions |
| 02/26/2025 | Date of signature on the Form 4 filing |
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