Form 4: Xylem Inc. SVP & CFO William K. Grogan Reports Acquisition of Stock and Stock Options
SEC Form 4 Filing
William K. Grogan, SVP & CFO of Xylem Inc., reports the acquisition of common stock and stock options under the company's incentive plan.
Summary
- On March 1, 2024, William K. Grogan, SVP & CFO of Xylem Inc., acquired 3,908 shares of common stock at a price of $127.94 per share.
- Following the transaction, Grogan beneficially owns 32,710 shares of Xylem Inc. common stock.
- Grogan also acquired 13,221 stock options with an exercise price of $127.94, exercisable starting March 1, 2025, and expiring on March 1, 2034.
- These transactions were executed under the Xylem 2011 Omnibus Incentive Plan (Amended and Restated February 24, 2016).
- The restricted stock units and stock options vest in one-third increments on March 1, 2025, March 1, 2026, and March 1, 2027.
Sentiment
Score: 6
Explanation: The sentiment is neutral. It's a standard disclosure of stock and option awards to an executive, which is neither particularly positive nor negative.
Positives
- The acquisition of stock and stock options by a key executive could be seen as a positive signal, indicating confidence in the company's future performance.
Industry Context
This filing is a routine disclosure related to executive compensation and is typical for publicly traded companies. It provides transparency into the holdings and transactions of key executives.
Comparison to Industry Standards
- Executive compensation packages including stock options and restricted stock units are standard practice among publicly traded companies like Xylem.
- Companies such as Danaher, Roper Technologies, and Agilent Technologies also utilize similar equity-based compensation plans to align executive interests with shareholder value.
- The vesting schedules and terms of these grants are generally comparable to industry norms, designed to incentivize long-term performance and retention.
Stakeholder Impact
- The transaction could have a minor positive impact on shareholder sentiment if viewed as a sign of executive confidence in the company.
- Employees may view the executive's stock ownership as a positive alignment of interests.
Key Dates
| Date | Description |
|---|---|
| February 24, 2016 | Date of amendment and restatement of the Xylem 2011 Omnibus Incentive Plan. |
| September 5, 2023 | Date of Power of Attorney document. |
| March 1, 2024 | Date of the reported transaction (acquisition of stock and stock options). |
| March 1, 2025 | First vesting date for the restricted stock units and stock options. |
| March 1, 2026 | Second vesting date for the restricted stock units and stock options. |
| March 1, 2027 | Third vesting date for the restricted stock units and stock options. |
| March 1, 2034 | Expiration date for the stock options. |
| March 5, 2024 | Date of signature on the Form 4 filing. |
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