Form 4: Zimmer Biomet Executive Chad F. Phipps Reports Stock Transactions
SEC Form 4 Filing
Chad F. Phipps, a Senior VP/General Counsel/Secretary at Zimmer Biomet Holdings, Inc., reported the vesting of restricted stock units and subsequent tax withholding.
Summary
- On February 25, 2024, Chad F. Phipps, a Senior VP/General Counsel/Secretary at Zimmer Biomet Holdings, Inc., reported transactions involving common stock and restricted stock units (RSUs).
- Phipps acquired 4,580 shares of common stock upon the vesting of RSUs.
- The company withheld 1,769 shares to satisfy tax obligations at a price of $128.8 per share.
- Following these transactions, Phipps directly owns 46,956 shares of Zimmer Biomet common stock.
- The reported RSUs reflect adjustments made on March 1, 2022, related to the spinoff of Zimvie Inc., where the RSUs were adjusted to preserve their intrinsic value.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing stock transactions, and does not inherently convey positive or negative sentiment.
Industry Context
This filing is a routine disclosure of insider transactions, which are common for executives receiving stock-based compensation. It provides transparency into the trading activities of company insiders.
Stakeholder Impact
- The transaction has a minor impact on shareholders as it involves the issuance of shares related to executive compensation.
- Employees holding RSUs are impacted as their awards vest and are subject to tax withholding.
Key Dates
| Date | Description |
|---|---|
| 2022-03-01 | Date of adjustments to RSUs in connection with Zimmer Biomet Holdings, Inc.'s spinoff of Zimvie Inc. |
| 2024-02-25 | Date of transaction: vesting of restricted stock units and tax withholding. |
| 2024-02-27 | Date of signature on the Form 4 filing. |
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