Form 4: Voxx International Corp: Sr. Vice President & Treasurer Charles M. Stoehr Receives Grant of Restricted Stock Units

Charles M. Stoehr, Sr. Vice President & Treasurer of Voxx International Corp, reports the acquisition of 8,442 restricted stock units (RSUs) under the company's 2024 Equity Incentive Plan.

Summary

• On July 23, 2024, Charles M. Stoehr, Sr. Vice President & Treasurer of Voxx International Corp, was granted 8,442 restricted stock units (RSUs) under the company's 2024 Equity Incentive Plan.
• The RSUs will vest on the later of three years from the grant date or when Stoehr reaches the age of 65.
• The issuer has the discretion to settle the RSUs in cash, shares of Class A Common Stock, or a combination of both.
• These RSUs are allocated to the reporting person under the SERP (Supplemental Executive Retirement Plan) and are based on the fair market value of Voxx's Class A Common Stock on July 23, 2024.
• The vested balance in Stoehr's SERP account is payable in cash, Class A Common Stock, or a combination of both, and will vest upon death, disability, retirement, or a reason approved by the Board.

Sentiment

Score: 7

Explanation: The document reflects a standard executive compensation practice, indicating stability and alignment of interests. The sentiment is neutral to positive as it suggests a commitment to retaining key personnel.

Positives

• The grant of RSUs aligns the executive's interests with those of the shareholders.
• The vesting schedule encourages long-term commitment from the executive.
• The flexibility in settlement (cash, stock, or combination) provides the company with options.

Future Outlook

The document does not contain specific forward-looking statements beyond the vesting schedule of the RSUs.

Industry Context

Equity grants are a common practice in executive compensation to incentivize performance and align management's interests with shareholders. The specific terms of the grant, such as vesting schedule and settlement options, are tailored to the company's specific needs and compensation philosophy.

Comparison to Industry Standards

• Equity compensation is a standard practice across publicly traded companies to align executive incentives with shareholder value.
• Vesting schedules, such as the three-year vesting period or reaching a certain age, are common to ensure long-term commitment.
• Settlement options in cash or stock are also typical, providing flexibility to both the company and the executive.

Stakeholder Impact

• Shareholders: The RSU grant aligns executive interests with shareholder value.
• Employees: The grant may serve as a positive signal regarding the company's commitment to its leadership.
• Management: The grant provides an incentive for long-term performance and commitment.

Key Dates