Crocs CEO awarded 207,853 RSUs in new grant
Crocs, Inc. chief executive Andrew Rees reported a large equity grant and related share adjustments.
Rhea-AI Filing Summary
Crocs, Inc. chief executive Andrew Rees reported a large equity grant and related share adjustments. He received 207,853 restricted stock units under the 2020 Equity Incentive Plan, with portions vesting over time and additional tranches tied to future performance metrics and continued employment.
The filing also shows a disposition to the issuer of 55,419 shares linked to cancelled performance-based awards and a total of 13,954 shares withheld to cover tax obligations upon RSU vesting. After these transactions, Rees holds 475,789 shares directly and 775,981 shares indirectly through a family trust for which he has voting and investment power.
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Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise Price or Tax Liability | Common Stock | 6,687 | $79.63 | $532K |
| Disposition | Common Stock | 55,419 | $0.00 | $0.00 |
| Exercise Price or Tax Liability | Common Stock | 7,267 | $80.40 | $584K |
| Grant/Award | Common Stock | 207,853 | $0.00 | $0.00 |
| holding | Common Stock | -- | -- | -- |
Footnotes (4)
- F1. Represents 207,853 restricted stock units (RSUs) granted to the reporting person under the issuer's 2020 Equity Incentive Plan. Each RSU represents the contingent right to receive one share of the issuer's common stock. The RSUs vest as follows: (i) 37,793 of the RSUs vest in three equal annual installments on March 10, 2027, March 10, 2028 and March 10, 2029, (ii) up to 75,582 of the RSUs vest in three equal annual installments beginning on the date in 2027 that the issuer's compensation committee certifies that certain performance metrics are achieved and (iii) up to 94,478 of the RSUs vest on the date in 2029 that the issuer's compensation committee certifies that certain performance metrics are achieved, provided, in each case, that the reporting person remains employed by the issuer as of each applicable vesting date.
- F2. Represents the restricted stock units that were cancelled as certain performance metrics relating to the vesting of such awards were not achieved.
- F3. Represents shares withheld by the issuer to cover tax withholding obligations upon vesting of a restricted stock unit award.
- F4. The reporting person is a trustee of the REES FAMILY LIVING TRUST U/A DTD 03/22/2019 and exercises voting and investment power for the shares beneficially owned by the trust.
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