Form 4: Wolfspeed Director Marvin Riley Awarded Restricted Stock Units
SEC Form 4 Filing
Wolfspeed director Marvin Riley received 18,834 restricted stock units that will vest on December 5, 2025.
Summary
- Marvin Riley, a director at Wolfspeed, Inc., was granted 18,834 restricted stock units.
- These restricted stock units will vest in full on December 5, 2025.
- The transaction was reported on a Form 4 filing with the SEC.
- The filing also includes a power of attorney document from 2022, authorizing Bradley D. Kohn and Sherri Hudson to act on behalf of Marvin Riley for SEC filings.
Sentiment
Score: 7
Explanation: The document reflects a standard practice of equity compensation for a director, which is generally viewed positively as it aligns interests with shareholders. There are no negative implications or surprises.
Positives
- The award of restricted stock units aligns the director's interests with the long-term performance of the company.
- The vesting date of December 5, 2025, encourages long-term commitment from the director.
Future Outlook
The restricted stock units will vest on December 5, 2025, subject to the terms of the grant.
Industry Context
This type of equity compensation is common practice for directors and executives in publicly traded companies to align their interests with shareholders.
Comparison to Industry Standards
- Equity compensation, such as restricted stock units, is a standard practice for directors in publicly traded companies like Wolfspeed.
- Companies such as ON Semiconductor, Infineon Technologies, and STMicroelectronics also use similar equity-based compensation for their board members.
- The vesting period of one year is a common practice to ensure long-term commitment from the director.
Stakeholder Impact
- The award of restricted stock units to a director is generally viewed positively by shareholders as it aligns the director's interests with the long-term performance of the company.
Key Dates
| Date | Description |
|---|---|
| September 1, 2022 | Date of the Power of Attorney document authorizing Bradley D. Kohn and Sherri Hudson to act on behalf of Marvin Riley for SEC filings. |
| December 5, 2024 | Date of the transaction where Marvin Riley was awarded restricted stock units. |
| December 5, 2025 | Vesting date for the restricted stock units awarded to Marvin Riley. |
| December 6, 2024 | Date of the signature on the Form 4 filing. |
Keywords
Wolfspeed, Marvin Riley, Restricted Stock Units, Director, SEC Form 4, Equity Compensation, Stock Options, Vesting
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