Form 4: Williams Sonoma Inc. Executive Marta Benson Reports Stock Transactions
SEC Form 4 Filing
Marta Benson, CEO of Pottery Barn Brands and officer of Williams Sonoma Inc., reports the vesting and subsequent sale of restricted stock units to cover tax obligations.
Summary
- Marta Benson, CEO of Pottery Barn Brands, reported transactions involving Williams Sonoma Inc. (WSM) common stock.
- On April 15, 2024, Benson vested 18,674 restricted stock units (RSUs) that were granted on April 15, 2021, and satisfied performance metrics and continued service conditions.
- Also on April 15, 2024, 2,824 restricted stock units vested that vest in four equal installments on each anniversary of the grant date in 2022, 2023, 2024 and 2025.
- On April 16, 2024, 10,660 restricted stock units vested that vest in four equal installments on each anniversary of the grant date in 2021, 2022, 2023 and 2024.
- Shares were withheld to cover tax obligations upon the vesting of these RSUs.
- Specifically, 9,464 shares were withheld on April 15, 2024, at a price of $288.85.
- An additional 1,432 shares were withheld on April 15, 2024, at a price of $288.85.
- Another 5,403 shares were withheld on April 16, 2024, at a price of $288.53.
- Following these transactions, Benson directly owns 84,456 shares of WSM common stock.
Sentiment
Score: 5
Explanation: This is a neutral event. It's a standard Form 4 filing related to stock vesting and tax obligations, with no indication of positive or negative sentiment towards the company's performance.
Industry Context
This filing is a routine disclosure of insider transactions, which are common for executives who receive stock-based compensation. These transactions don't necessarily reflect a change in the executive's confidence in the company, as the sales are often to cover tax obligations associated with vesting equity.
Key Dates
| Date | Description |
|---|---|
| 04/15/2021 | Date of grant for 18,674 restricted stock units that vested on April 15, 2024. |
| 04/15/2024 | Vesting of 18,674 restricted stock units and withholding of 9,464 shares for tax obligations at $288.85. |
| 04/15/2024 | Vesting of 2,824 restricted stock units and withholding of 1,432 shares for tax obligations at $288.85. |
| 04/16/2024 | Vesting of 10,660 restricted stock units and withholding of 5,403 shares for tax obligations at $288.53. |
| 04/17/2024 | Date of the Form 4 filing. |
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