Form 4: ZoomInfo CFO Receives Stock and Performance-Based Units
SEC Form 4 Filing
Peter Cameron Hyzer, CFO of ZoomInfo Technologies, receives restricted stock units and performance restricted stock units.
Summary
- Peter Cameron Hyzer, the Chief Financial Officer of ZoomInfo Technologies Inc., received grants of restricted stock units (RSUs) and performance restricted stock units (PRSUs) on May 29, 2024.
- The RSU grant consists of 294,118 units, vesting in equal quarterly installments over 24 months starting April 1, 2024.
- The PRSU grant consists of 147,059 units, vesting in increments upon achievement of stock price targets and continued service through specific dates.
- The reporting person now directly owns 294,118 restricted stock units and 147,059 performance restricted stock units.
Sentiment
Score: 6
Explanation: The document is a standard SEC filing detailing equity compensation. It's neutral in tone, simply reporting the facts of the grant. The positive aspect is the incentive alignment, while the risk lies in the stock price volatility.
Positives
- The grants of RSUs and PRSUs align the CFO's interests with the company's performance and shareholder value.
- The vesting schedules for both RSUs and PRSUs incentivize continued service and achievement of stock price targets.
Risks
- The vesting of PRSUs is contingent on achieving specific stock price targets, which may not be met.
- The value of the RSUs and PRSUs is subject to the volatility of ZoomInfo's stock price.
Future Outlook
The vesting of the performance restricted stock units is dependent on the achievement of future stock price targets.
Industry Context
Granting stock-based compensation is a common practice in the technology industry to attract, retain, and incentivize key executives. These grants align executive compensation with company performance and shareholder value.
Comparison to Industry Standards
- Companies like Salesforce, Workday, and ServiceNow also utilize stock options and restricted stock units as part of their executive compensation packages.
- The vesting schedules and performance metrics associated with these grants are typically designed to align with long-term strategic goals and shareholder returns.
Stakeholder Impact
- Shareholders may view the equity grants positively as they align management's interests with the company's long-term success.
- Employees may see the grants as a sign of confidence in the company's future prospects.
Key Dates
| Date | Description |
|---|---|
| 04/01/2024 | Start date for quarterly vesting of restricted stock units. |
| 05/29/2024 | Date of grant for restricted stock units and performance restricted stock units. |
| 01/01/2025 | First vesting date for 25% of performance restricted stock units, contingent on stock price target achievement and continued service. |
| 10/01/2025 | Second vesting date for 25% of performance restricted stock units, contingent on stock price target achievement and continued service. |
| 07/01/2026 | Third vesting date for 25% of performance restricted stock units, contingent on stock price target achievement and continued service. |
| 04/01/2027 | Final vesting date for 25% of performance restricted stock units, contingent on stock price target achievement and continued service. |
| 05/31/2024 | Date of signature for the Form 4 filing. |
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