Form 4: WillScot Mobile Mini Holdings Corp.: Executive Granted Performance and Time-Based Restricted Stock Units

Felicia Gorcyca, Chief Human Resources Officer of WillScot Mobile Mini Holdings Corp., received performance-based and time-based restricted stock units on February 22, 2024.

Summary

• On February 22, 2024, Felicia Gorcyca, Chief Human Resources Officer of WillScot Mobile Mini Holdings Corp., was granted 18,955 performance stock units (PSUs) and 4,622 restricted stock units (RSUs).
• The PSUs vest based on the company's relative total stockholder return (TSR) compared to the S&P 400 Index constituents over three years.
• The 18,955 PSUs are comprised of two tranches: 10,785 PSUs for the 2024 annual long-term equity award incentive and 8,170 PSUs for the first half of her executive new hire bonus.
• The RSUs vest annually in four equal installments over four years from the grant date.
• Both PSUs and RSUs represent a contingent right to receive one share of common stock or its cash equivalent upon vesting.

Sentiment

Score: 7

Explanation: The document reflects a standard executive compensation practice, aligning management incentives with shareholder value. The sentiment is neutral to slightly positive.

Positives

• The granting of PSUs aligns executive compensation with the company's long-term performance and shareholder value.
• The vesting schedule of the RSUs encourages continued service and commitment from the executive.

Risks

• The value of the PSUs is contingent on the company's TSR performance relative to the S&P 400, which may be affected by market conditions and other factors outside the company's control.
• The executive may not remain with the company for the entire vesting period of the RSUs, resulting in forfeiture of unvested units.

Future Outlook

The vesting of the PSUs is dependent on the company's future performance relative to the S&P 400 index over the next three years.

Industry Context

Granting stock-based compensation is a common practice in publicly traded companies to align executive interests with those of shareholders and incentivize long-term value creation.

Comparison to Industry Standards

• Many companies in the industrials sector use a combination of time-based and performance-based equity awards to compensate their executives.
• Performance metrics often include relative TSR, revenue growth, and profitability targets.
• The specific terms and conditions of the equity awards, such as the vesting schedule and performance targets, vary depending on the company's size, industry, and strategic goals.

Stakeholder Impact

• Shareholders may view the granting of PSUs favorably as it aligns executive compensation with the company's performance.
• Employees may be motivated by the potential for increased company value and stock price appreciation.

Key Dates