Form 4: Wolverine World Wide Director Kollat Receives Stock Units as Dividend Equivalents

Director David T. Kollat acquired stock units representing dividend equivalents on previously deferred compensation from Wolverine World Wide Inc.

Summary

• On May 1, 2024, David T. Kollat, a director of Wolverine World Wide Inc., acquired 868.07 stock units.
• These stock units represent dividend equivalents on amounts previously deferred under the company's Amended and Restated Outside Directors' Deferred Compensation Plan.
• The price per unit was $10.45.
• Following this transaction, Kollat directly owns 91,581.36 stock units.
• These units are convertible to common stock on a one-for-one basis after termination of service as a director or upon a change in control of the issuer.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive as it reflects standard compensation practices and alignment of director interests with shareholders.

Positives

• The acquisition of stock units as dividend equivalents aligns the director's interests with those of the shareholders.
• The deferred compensation plan provides a mechanism for long-term value creation.

Future Outlook

Shares of Common Stock are issuable on a one-for-one basis in either a lump sum or installments after termination of service as a director or upon a change in control of the Issuer.

Industry Context

Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to investors.

Comparison to Industry Standards

• Director compensation packages often include stock units and deferred compensation plans to align executive interests with shareholder value, a common practice among publicly traded companies like Wolverine World Wide.
• Companies such as Nike and Adidas also utilize similar compensation structures for their directors.

Stakeholder Impact

• The transaction has a minor positive impact on shareholders by aligning director compensation with company performance.

Key Dates