4/A: Westinghouse Air Brake Technologies Corp: Executive Receives Phantom Stock Award
SEC Filing
Pascal Schweitzer, President of Services Group at Westinghouse Air Brake Technologies Corp, received an award of 4,612 shares of Phantom Stock on March 2, 2023, vesting annually beginning March 1, 2024.
Summary
- This is an amended Form 4 filing to correct the date of a phantom stock award to Pascal Schweitzer, President, Services Group of Westinghouse Air Brake Technologies Corp.
- The award of 4,612 shares of Phantom Stock was granted on March 2, 2023.
- The phantom stock vests at a rate of 33.33% per year, starting on March 1, 2024.
- Each share of Phantom Stock represents the right to receive one share of common stock of the issuer.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing regarding executive compensation, and does not contain information that would significantly impact investor sentiment positively or negatively.
Future Outlook
The document does not contain any specific forward-looking statements regarding the company's future performance.
Industry Context
This filing is a routine disclosure of executive compensation in the form of phantom stock, a common practice among publicly traded companies to align executive interests with shareholder value.
Stakeholder Impact
- The award of phantom stock aligns the executive's interests with those of the shareholders, as the value of the award is tied to the company's stock performance.
Key Dates
| Date | Description |
|---|---|
| 03/02/2023 | Date of Phantom Stock award |
| 03/01/2024 | Vesting of Phantom Stock begins (33.33% per year) |
| 03/01/2026 | Expiration date of the phantom stock |
| 03/05/2024 | Date of amended Form 4/A filing |
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