CCSI CTO exercises 5,000 PSUs, covers tax with shares
Consensus Cloud Solutions Chief Technology Officer Jeffrey Alan Sullivan exercised 5,000 performance stock units into common stock after meeting a stock price performance condition.
Accepted by SEC EDGAR
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Form Type
4
Rhea-AI Filing Summary
Consensus Cloud Solutions Chief Technology Officer Jeffrey Alan Sullivan exercised 5,000 performance stock units into common stock after meeting a stock price performance condition. To cover taxes at vesting, 2,544 shares were withheld at $38.26 per share, and he now directly holds 120,368 common shares.
Insider Trade Summary
5,000 shares exercised/converted
Exercise
3 txns
Insider
Sullivan Jeffrey Alan
Role
Chief Technology Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Performance Stock Unit | 5,000 | $0.00 | $0.00 |
| Exercise | Common Stock | 5,000 | $0.00 | $0.00 |
| Exercise Price or Tax Liability | Common Stock | 2,544 | $38.26 | $97K |
Holdings After Transaction:
Performance Stock Unit — 0 contracts (Direct);
Common Stock — 120,368 shares (Direct)
Footnotes (2)
- F1. Payment for a tax liability by withholding securities incident to vesting of a certain Performance Stock Unit.
- F2. This vesting event signifies the achievement of the fourth of four stock price performance conditions associated with a grant of performance share units ("PSUs") made on December 7, 2023. The condition was met when the Company's common stock closed at or above $33.39 for at least twenty (20) trading days within a period of thirty (30) consecutive trading days and the grant reached its first anniversary. Each PSU represents a contingent right to receive one share of the Company's common stock.
Key Figures
PSUs exercised: 5,000 units
Shares withheld for tax: 2,544 shares
Withholding price: $38.26 per share
+5 more
8 metrics
PSUs exercised
5,000 units
Performance stock units converted to common stock
Shares withheld for tax
2,544 shares
Tax-withholding disposition on vesting
Withholding price
$38.26 per share
Value used for tax-withholding shares
Post-transaction holdings
122,912 shares
Common stock held directly after transactions
PSU price hurdle
$33.39
Required closing price for vesting condition
Trading day requirement
20 of 30 days
Stock must close at or above $33.39
Performance conditions
Fourth of four met
Stock price performance conditions for PSU grant
Grant date
December 7, 2023
Original PSU grant date
Key Terms
Performance Stock Unit, performance share units ("PSUs"), tax liability, vesting event, +1 more
5 terms
Performance Stock Unit financial
"security_title: "Performance Stock Unit" and footnote describing PSUs"
A performance stock unit is a type of reward companies give to employees, usually managers, that depends on how well the company performs over time. If the company hits specific goals, the employee earns shares of stock, like earning a prize for reaching certain levels in a game. It motivates employees to work hard because their rewards are tied to the company's success.
tax liability financial
"Payment for a tax liability by withholding securities incident to vesting"
vesting event financial
"This vesting event signifies the achievement of the fourth of four stock price performance conditions"
contingent right financial
"Each PSU represents a contingent right to receive one share of the Company's common stock"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transaction did CCSI CTO Jeffrey Alan Sullivan report?
Jeffrey Alan Sullivan reported exercising 5,000 performance stock units into common stock and a related tax-withholding disposition of 2,544 shares. These actions are compensation-related and reflect vesting of equity awards rather than an open-market stock purchase or sale.
What performance condition triggered Jeffrey Alan Sullivan’s PSU vesting at CCSI?
The vesting occurred when Consensus Cloud Solutions’ common stock closed at or above $33.39 for at least 20 trading days within 30 consecutive trading days, and the grant reached its first anniversary. This event satisfied the fourth of four stock price performance conditions for the PSU award.
What are performance stock units (PSUs) in the CCSI CTO’s equity award?
Each performance stock unit represents a contingent right to receive one share of Consensus Cloud Solutions common stock upon meeting specified conditions. For Jeffrey Alan Sullivan, 5,000 PSUs converted into 5,000 common shares once the defined stock price and time-based performance criteria were achieved.
AI-generated analysis. How Rhea-AI works. Not financial advice.
