Form 4: XPO Inc. COO David J. Bates Reports Stock Transactions
SEC Form 4
Chief Operating Officer of XPO Inc., David J. Bates, reports the vesting and subsequent disposal of shares related to restricted stock units.
Summary
- On March 15, 2024, David J. Bates, Chief Operating Officer of XPO Inc., had 3,975 shares of common stock vest from restricted stock units (RSUs).
- These RSUs vested in accordance with a schedule of three equal annual installments starting on March 15, 2024.
- Following the vesting, 1,620 shares were disposed of at a price of $122.66 to cover tax obligations.
- After these transactions, Bates directly owns 2,355 shares of XPO Inc. common stock and 7,951 restricted stock units.
Sentiment
Score: 5
Explanation: This is a routine regulatory filing related to executive stock transactions and has a neutral sentiment.
Industry Context
This filing is a routine disclosure related to executive compensation and stock ownership, common in publicly traded companies. It provides transparency to investors regarding the holdings and transactions of company insiders.
Comparison to Industry Standards
- Executive compensation packages often include restricted stock units (RSUs) that vest over time, aligning executive interests with long-term shareholder value.
- The disposal of shares to cover tax obligations upon vesting is a standard practice among executives receiving equity compensation.
- Similar filings are made by executives at companies like FedEx, UPS, and other major logistics and transportation firms.
Stakeholder Impact
- The filing provides transparency to shareholders regarding executive compensation and stock ownership.
- The transactions have a minimal direct impact on employees, customers, suppliers, or creditors.
Key Dates
| Date | Description |
|---|---|
| July 26, 2023 | Date of Power of Attorney execution. |
| March 15, 2024 | Date of stock transaction (vesting and disposal). |
| March 15, 2024 | First vesting date of RSUs. |
| March 15, 2025 | Second vesting date of RSUs. |
| March 15, 2026 | Third vesting date of RSUs. |
| March 19, 2024 | Date of signature for the Form 4 filing. |
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