Vita Coco (NASDAQ: COCO) chair gets performance options and RSU stock
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Vita Coco Company, Inc. Executive Chairman Michael Kirban reported equity awards rather than open‑market trades. He acquired performance stock options covering 185,133 shares at 16.91 per share after specified performance conditions were met, and received 25,945 common shares via restricted stock units that vest in four equal annual installments if he remains in continuous service.
Positive
- None.
Negative
- None.
Insider Trade Summary
10 transactions reported
Mixed
10 txns
Insider
Kirban Michael
Role
Executive Chairman
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Performance Options | 185,133 | $16.91 | $3.13M |
| Grant/Award | Common Stock | 25,945 | $0.00 | -- |
| holding | Non-Qualified Stock Option (Right to Buy) | -- | -- | -- |
| holding | Non-Qualified Stock Option (Right to Buy) | -- | -- | -- |
| holding | Non-Qualified Stock Option (Right to Buy) | -- | -- | -- |
| holding | Non-Qualified Stock Option (Right to Buy) | -- | -- | -- |
| holding | Non-Qualified Stock Option (Right to Buy) | -- | -- | -- |
| holding | Non-Qualified Stock Option (Right to Buy) | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Performance Options — 185,133 shares (Direct);
Common Stock — 153,574 shares (Direct);
Non-Qualified Stock Option (Right to Buy) — 546,000 shares (Direct);
Common Stock — 1,479,049 shares (Indirect, by M. Kirban 2010)
Footnotes (1)
- The Reporting Person was granted restricted stock units that will vest in four annual equal installments on each anniversary of the grant date provided that the Reporting Person remains in continuous service on each vesting date. Unless otherwise provided, on each vesting date shares of Common Stock will automatically be withheld to satisfy the Reporting Person's tax withholding obligations in a non-discretionary transaction. These shares are held by the Michael Kirban 2010 Trust. These shares are held by the Michael Kirban Revocable Trust. The stock option is eligible to vest if certain performance conditions are met by the target date for the applicable performance condition(s) and expire if the performance conditions are not met by the final target date. The performance conditions applicable were timely satisfied, resulting in vesting of the option as to 185,133 shares on February 20, 2026. The stock option is fully vested and currently exercisable. The stock option vests in four equal annual installments beginning on November 27, 2022. The stock option vests in four equal annual installments beginning on March 10, 2024. The stock option vests in four equal annual installments beginning on March 4, 2025. The Stock Option vests in four equal annual installments beginning in March 3, 2026.
FAQ
What did Vita Coco (COCO) Executive Chairman Michael Kirban report on this Form 4?
Michael Kirban reported equity awards, not open-market trades. He acquired performance stock options on 185,133 shares and 25,945 common shares via restricted stock units, both tied to service and, for the options, to previously satisfied performance conditions.
What restricted stock unit grant did Michael Kirban receive from Vita Coco (COCO)?
He received 25,945 common shares through restricted stock units. These units vest in four equal annual installments on each anniversary of the grant date, provided he remains in continuous service, and shares may be withheld on vesting to cover tax obligations.
How are Michael Kirban’s indirect Vita Coco (COCO) holdings structured?
Indirect holdings are shown as common stock held by the Michael Kirban 2010 Trust and the Michael Kirban Revocable Trust. The Form 4 lists these as indirect ownership, indicating the shares are owned through these trusts rather than directly in his personal name.