Form 4: Wingstop SVP Donnie Upshaw Reports Stock Transactions
SEC Form 4 Filing
Wingstop's SVP Donnie Upshaw reports the vesting of restricted stock units and subsequent tax withholding.
Summary
- On March 2, 2024, Donnie Upshaw, SVP Corp Restaurants & CPO of Wingstop Inc., reported the vesting of 230 restricted stock units (RSUs) which converted into common stock.
- Also on March 2, 2024, 91 shares were withheld for the payment of tax liabilities related to the vesting of these RSUs at a price of $366.28.
- On March 3, 2024, 220 restricted stock units (RSUs) vested and converted into common stock.
- On March 3, 2024, 87 shares were withheld for the payment of tax liabilities related to the vesting of these RSUs at a price of $366.28.
- Following these transactions, Upshaw directly owns 2,854 shares of Wingstop Inc. common stock.
Sentiment
Score: 5
Explanation: This is a routine regulatory filing related to executive compensation. It doesn't contain any information that would significantly impact investor sentiment positively or negatively.
Industry Context
This Form 4 filing is a routine disclosure of insider transactions, which are common for executives at publicly traded companies like Wingstop. These filings are monitored by investors for insights into management's perspective on the company's stock.
Comparison to Industry Standards
- Executive compensation packages often include restricted stock units (RSUs) that vest over time, aligning executive incentives with long-term shareholder value.
- Tax withholding upon vesting of RSUs is a standard practice across publicly traded companies, including competitors like Domino's Pizza (DPZ) and McDonald's (MCD).
- The vesting schedules (three equal annual installments) are typical for RSU grants in the restaurant industry.
Stakeholder Impact
- The transactions have a minimal direct impact on shareholders, employees, customers, suppliers, and creditors.
- The vesting of RSUs incentivizes the executive to continue to improve company performance.
Key Dates
| Date | Description |
|---|---|
| 03/03/2021 | Date of RSU grant that vests in three equal annual installments beginning on the first anniversary of the grant date. |
| 03/02/2022 | Date of RSU grant that vests in three equal annual installments beginning on the first anniversary of the grant date. |
| 03/02/2024 | Date of transaction: Vesting of 230 Restricted Stock Units and withholding of 91 shares for tax liabilities. |
| 03/03/2024 | Date of transaction: Vesting of 220 Restricted Stock Units and withholding of 87 shares for tax liabilities. |
| 03/04/2024 | Date of signature on the Form 4 filing. |
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