GrafTech (EAF) CLO exercises 1,800 RSUs; 526 shares withheld for tax
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
GrafTech International chief legal officer Andrew James Renacci exercised restricted stock units into 1,800 shares of common stock at a conversion price of $0.00 per share. These RSUs convert into common stock on a one-for-one basis.
To cover tax obligations, 526 shares of common stock were withheld at $5.23 per share. After these compensation-related transactions, Renacci directly holds 8,891 shares of GrafTech common stock.
Positive
- None.
Negative
- None.
Insider Trade Summary
1,800 shares exercised/converted
Mixed
3 txns
Insider
Renacci Andrew James
Role
CLO and Corp. Secy.
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units | 1,800 | $0.00 | -- |
| Exercise | Common Stock | 1,800 | $0.00 | -- |
| Tax Withholding | Common Stock | 526 | $5.23 | $3K |
Holdings After Transaction:
Restricted Stock Units — 1,800 shares (Direct);
Common Stock — 9,417 shares (Direct)
Footnotes (1)
- Restricted stock units (RSUs) convert into shares of EAF common stock on a one-for-one basis. On March 12, 2024, the reporting person was granted 5,401 RSUs, which also accrue additional RSUs pursuant to dividend equivalent rights based upon the closing price of EAF stock as of the dividend payment date if a dividend is declared by the Board of Directors. On August 2, 2023, GrafTech International Ltd.'s Board of Directors elected to suspend the quarterly cash dividend of $0.01 per share. The RSUs vest in three equal annual installments beginning on March 12, 2025.
FAQ
What insider transaction did GrafTech (EAF) report for Andrew James Renacci?
GrafTech reported that chief legal officer Andrew James Renacci exercised restricted stock units into 1,800 shares of common stock at a conversion price of $0.00 per share, reflecting a routine compensation-related equity delivery rather than an open-market purchase or sale.
What was the nature of the RSUs involved in the GrafTech (EAF) insider filing?
The filing shows restricted stock units that convert into GrafTech common stock on a one-for-one basis. An earlier grant of 5,401 RSUs was disclosed, which vests in three equal annual installments beginning March 12, 2025, tying equity awards to continued service over several years.
Did the GrafTech (EAF) insider Form 4 reflect any open-market stock sales or purchases?
No open-market purchases or sales were reported. The Form 4 shows an RSU conversion into 1,800 common shares and a related tax-withholding disposition of 526 shares, which is a mechanical step to pay taxes rather than a discretionary trade in the open market.
How do dividend equivalent rights affect the GrafTech (EAF) RSU grant mentioned?
The 5,401 RSUs granted on March 12, 2024 accrue additional RSUs through dividend equivalent rights based on GrafTech’s closing stock price if the Board declares dividends, although the Board previously elected to suspend a quarterly cash dividend of $0.01 per share on August 2, 2023.