Entravision (EVC) CEO exercises performance units to add 1.36M common shares
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
ENTRAVISION COMMUNICATIONS CORP Chief Executive Officer Michael J. Christenson exercised performance-based equity awards and acquired additional common shares. On the reported date, he exercised derivative securities and received a total of 1,358,750 shares of Class A common stock, with no open-market purchases or sales reported. Following these transactions, he directly owns 4,348,420 shares of Class A common stock. The footnotes explain that each Performance Unit converts into one share upon vesting, based on a mix of time-based schedules and market-based total shareholder return hurdles, with specified tranches deemed achieved by the board’s compensation committee.
Positive
- None.
Negative
- None.
Insider Trade Summary
1,358,750 shares exercised/converted
Mixed
6 txns
Insider
Christenson Michael J
Role
Chief Executive Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Performance Units | 600,000 | $0.00 | -- |
| Exercise | Performance Units | 558,750 | $0.00 | -- |
| Exercise | Performance Units | 200,000 | $0.00 | -- |
| Exercise | Class A common stock | 600,000 | $0.00 | -- |
| Exercise | Class A common stock | 558,750 | $0.00 | -- |
| Exercise | Class A common stock | 200,000 | $0.00 | -- |
Holdings After Transaction:
Performance Units — 400,000 shares (Direct, null);
Class A common stock — 4,348,420 shares (Direct, null)
Footnotes (1)
- Each Performance Unit represents a contingent right to receive one share of the Issuer's Class A common stock upon vesting. The Performance Units vest by a combination of both (i) time-based vesting, with 20% vesting on July 1, 2024 and 10% vesting every six months thereafter in eight equal installments, and (ii) a market-based vesting condition based on total shareholder return hurdles in five equal tranches, the first three of which was deemed achieved by the Compensation Committee of the Board of Directors as of the transaction date. Includes 3,946,250 restricted stock units. Each Performance Unit represents a contingent right to receive one share of the Issuer's Class A common stock upon vesting. The Performance Units vest by a combination of both (i) time-based vesting, with 20% vesting on January 21, 2026 and 10% vesting every six months thereafter in eight equal installments, and (ii) a market-based vesting condition based on total shareholder return hurdles in four equal tranches, each of which was deemed achieved by the Compensation Committee of the Board of Directors as of the transaction date. Includes 4,505,000 restricted stock units. Each Performance Unit represents a contingent right to receive one share of the Issuer's Class A common stock upon vesting. The Performance Units vest by a combination of both (i) time-based vesting, with 20% vesting on January 21, 2027 and 10% vesting every six months thereafter in eight equal installments, and (ii) a market-based vesting condition based on total shareholder return hurdles in four equal tranches, each of which was deemed achieved by the Compensation Committee of the Board of Directors as of the transaction date. Includes 4,705,000 restricted stock units.
Key Figures
Shares acquired via exercises: 1,358,750 shares
Direct holdings after transactions: 4,348,420 shares
Exercise transaction count: 3 transactions
+4 more
7 metrics
Shares acquired via exercises
1,358,750 shares
Total exerciseShares from M-code transactions on Class A common stock
Direct holdings after transactions
4,348,420 shares
Class A common stock directly owned following latest reported transaction
Exercise transaction count
3 transactions
Non-derivative entries with code M on Class A common stock
Performance Unit exercises
1,358,750 units
Three derivative M-code transactions converting Performance Units into common shares
Restricted stock units (F2)
3,946,250 units
Footnote F2 states this number of restricted stock units is included
Restricted stock units (F4)
4,505,000 units
Footnote F4 states this number of restricted stock units is included
Restricted stock units (F6)
4,705,000 units
Footnote F6 states this number of restricted stock units is included
Key Terms
Performance Unit, restricted stock units, total shareholder return, Class A common stock, +1 more
5 terms
Performance Unit financial
"Each Performance Unit represents a contingent right to receive one share of the Issuer's Class A common stock upon vesting."
restricted stock units financial
"Includes 3,946,250 restricted stock units."
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
Class A common stock financial
"Each Performance Unit represents a contingent right to receive one share of the Issuer's Class A common stock upon vesting."
Class A common stock is a category of a company’s shares that carries a specific set of ownership rights—most commonly defined voting power and claims on dividends—set out in the company’s charter. For investors it matters because the class determines how much influence you have over corporate decisions, the share’s likely dividend and trading behavior, and how it compares in value to other share classes, like choosing a particular seat with different privileges at the company’s decision-making table.
Exercise or conversion of derivative security financial
"transaction_code_description: Exercise or conversion of derivative security"
FAQ
What did EVC CEO Michael J. Christenson report in this Form 4?
He reported exercises of performance-based equity awards that delivered new Class A common shares. These were derivative exercises, not open-market trades, and increased his directly held position in Entravision Communications common stock as shown in the filing.
Were there any open-market buys or sales of EVC stock in this Form 4?
No open-market buys or sales were reported. All transactions carry the M code for “Exercise or conversion of derivative security,” and the filing’s transaction summary shows zero buy and sell shares, indicating only derivative exercises occurred.
What are Performance Units in the Entravision (EVC) CEO’s equity awards?
Each Performance Unit represents a contingent right to receive one share of Class A common stock upon vesting. Vesting depends on both time-based schedules and market-based total shareholder return hurdles, with certain tranches deemed achieved by the compensation committee.
What do the restricted stock unit amounts in the EVC Form 4 footnotes mean?
The footnotes state that certain award lines include 3,946,250, 4,505,000, and 4,705,000 restricted stock units. These figures describe components of the CEO’s broader equity awards structure, separate from the specific Performance Unit exercises reported in this Form 4.