Form 4: Zevia PBC Director Andrew Ruben Reports Acquisition of Restricted Stock Units
SEC Form 4
Director Andrew Ruben reports the acquisition of 118,455 restricted stock units (RSUs) of Zevia PBC Class A Common Stock.
Summary
- On June 12, 2024, Andrew Ruben, a director of Zevia PBC, acquired 118,455 restricted stock units (RSUs) of Class A Common Stock.
- These RSUs were granted under the Zevia PBC 2021 Equity Incentive Plan.
- Each RSU represents the right to receive one share of Class A Common Stock.
- The RSUs vest on the earlier of June 12, 2025, or the Issuer's 2025 annual meeting of stockholders and are settled within 30 days following such vesting date.
- Following the transaction, Ruben beneficially owns a total of 192,246 shares, including 143,480 RSUs.
Sentiment
Score: 7
Explanation: The sentiment is neutral to slightly positive as it reflects standard executive compensation practices and aligns director interests with shareholders.
Positives
- The grant of RSUs to a director aligns their interests with those of the shareholders.
- The vesting schedule encourages long-term commitment from the director.
Future Outlook
The document does not contain specific forward-looking statements beyond the vesting schedule of the RSUs.
Industry Context
This filing is a routine disclosure related to executive compensation and equity grants, common in publicly traded companies to align management and shareholder interests.
Comparison to Industry Standards
- Equity compensation is a standard practice among publicly traded companies to incentivize executives and align their interests with shareholders.
- Companies like Coca-Cola (KO) and PepsiCo (PEP) also utilize stock options and restricted stock units as part of their executive compensation packages.
- The vesting schedules and terms of these grants are generally comparable to industry norms, with vesting periods typically ranging from one to four years.
Stakeholder Impact
- Shareholders may view the RSU grant positively as it incentivizes the director to work towards the company's long-term success.
- Employees may see the grant as a sign of the company's commitment to its leadership.
Key Dates
| Date | Description |
|---|---|
| 06/12/2024 | Date of transaction: Andrew Ruben acquired 118,455 RSUs. |
| 06/12/2025 | Vesting date of 118,455 RSUs, or the date of the 2025 annual meeting of stockholders, whichever is earlier. |
| 06/15/2024 | Vesting date of 18,359 RSUs, or the date of the 2024 annual meeting of stockholders, whichever is earlier. |
| 01/17/2025 | Deferred settlement date for 6,666 vested RSUs. |
| 06/14/2024 | Date of signature for the Form 4 filing. |
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