ENS Form 4: Director Steven Fludder Gains Dividend-Adjusted RSUs/DSUs
Rhea-AI Filing Summary
EnerSys insider Steven M. Fludder received additional shares tied to director compensation and dividend equivalents on September 26, 2025. The Form 4 shows four non-derivative acquisitions arising from dividend-adjusted awards: 36.7759, 11.3957, 0.1378 and 0.1706 share increments, bringing his total beneficial ownership to 20,487.8702 shares (direct). The awards were paid as Deferred Stock Units (DSUs) and Restricted Stock Units (RSUs) under the company's director deferred compensation plan and relate to both vested and unvested RSUs/DSUs; they are vested and payable concurrent with the underlying awards. The filing was signed by a power of attorney on 09/30/2025.
Positive
- Transparent disclosure of dividend-equivalent DSU/RSU adjustments via Form 4
- Increased direct beneficial ownership to 20,487.8702 shares through vested and vested-payable awards
Negative
- None.
Insights
TL;DR: Director received dividend-equivalent DSUs/RSUs that modestly increase direct holdings to 20,487.87 shares.
The reported transactions are non-cash, formulaic adjustments converting dividend payments into additional DSUs/RSUs under the EnerSys director deferred compensation plan. These entries are routine compensation-related acquisitions rather than open-market purchases or exercises, so they do not indicate active insider buying for valuation reasons. The incremental change in share count is small relative to a typical public company float and appears administrative in nature.
TL;DR: Grants reflect standard director compensation mechanics and are disclosed appropriately via Form 4.
The disclosure clarifies the awards stem from dividend equivalents applied to previously granted RSUs/DSUs, including vested and unvested tranches. The filing includes a dated power-of-attorney signature, indicating procedural compliance. From a governance perspective, these are routine post-grant adjustments that maintain compensation transparency without signaling governance change or executive turnover.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock | 36.776 | $0.00 | -- |
| Grant/Award | Common Stock | 11.396 | $0.00 | -- |
| Grant/Award | Common Stock | 0.138 | $0.00 | -- |
| Grant/Award | Common Stock | 0.171 | $0.00 | -- |
Footnotes (1)
- These shares were granted in the form of Deferred Stock Units ("DSUs"), in connection with the cash dividend paid on September 26, 2025 to stockholders of record as of September 12, 2025 (the "Dividend"), with respect to an aggregate of 15,641 vested DSUs granted to the reporting person on various dates, and adjusted for previously and declared paid cash dividends. These DSUs are vested and payable concurrent with the underlying DSUs. These shares were granted in the form of Restricted Stock Units ("RSUs"), in connection with the Dividend, with respect to vested RSUs granted to the reporting person on various dates under the EnerSys Deferred Compensation Plan for Non-Employee Directors (the "Plan"), and adjusted for previously declared and paid cash dividends. These RSUs are vested and payable concurrent with the underlying RSUs. These shares were granted in the form of RSUs, in connection with the Dividend, with respect to unvested RSUs granted to the reporting person on October 18, 2024, under the Plan. These RSUs are vested and payable concurrent with the underlying RSUs. These shares were granted in the form of RSUs, in connection with the Dividend, with respect to unvested RSUs granted to the reporting person on January 10, 2025, under the Plan. These RSUs are vested and payable concurrent with the underlying RSUs.
