Brink’s (NYSE: BCO) CFO adds deferred Program Units tied to common stock
Rhea-AI Filing Summary
McMaken Kurt B reported acquisition or exercise transactions in this Form 4 filing.
The Brink's Company EVP and CFO Kurt B. McMaken received additional deferred equity-based compensation through Program Units tied to BCO common stock. On this date, 717.44 Program Units and a further 56.67 Program Units were credited to his stock incentive account at a reference price of $103.63 per share, under the Key Employees' Deferred Compensation Program. These Program Units are the economic equivalent of common shares and will settle one-for-one in BCO stock following his termination of employment or on a future date chosen in his deferral election. After these credits, his Program Unit balance reported in this filing is 5,309.54 units, reflecting compensation deferred rather than open-market purchases.
Positive
- None.
Negative
- None.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Program Units | 717.44 | $103.63 | $74K |
| Grant/Award | Program Units | 56.67 | $103.63 | $6K |
Footnotes (1)
- Program Units (each of which is the economic equivalent of one share of The Brink's Company ("BCO") common stock) credited to the Reporting Person's stock incentive account under the terms of the Key Employees' Deferred Compensation Program (the "Program") will settle in BCO common stock on a one-for-one basis and shall be distributed in accordance with the Reporting Person's deferral election either (1) following the Reporting Person's termination of employment with BCO or (2) on a future date selected by the Reporting Person at the time of his or her deferral election. Under the terms of the Program, the Reporting Person has chosen to defer a portion of his or her annual incentive award to an incentive account. In accordance with the terms of the Program and the Reporting Person's deferral election, certain deferred amounts and/or any matching amounts are converted into Program Units (each of which is the economic equivalent of one share of BCO common stock) and credited to the Reporting Person's account. The number of Program Units credited to the Reporting Person's account on the transaction date is based upon a share price of $103.63, which is the closing price of BCO common stock on the final trading day of the month in which the deferred compensation would have been payable, calculated in accordance with the terms of the Program. In accordance with the terms of the Program, on the last business day of each month, compensation deferred by the Reporting Person during that month and/or any matching amounts are converted into Program Units and credited to the Reporting Person's stock incentive account.