Global Payments (NYSE: GPN) COO nets 3,773 shares from performance award and tax withholding
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
GLOBAL PAYMENTS INC President and COO Robert M. Cortopassi received 8,288 shares of common stock as a fully vested award, earned from performance-based restricted stock units granted on February 21, 2023 and tied to adjusted earnings per share growth over a three-year period. On the same date, 4,515 shares were surrendered to the company to cover taxes on the vesting, resulting in a net increase of 3,773 shares and bringing his directly owned common stock to 52,895 shares, including shares acquired through a dividend reinvestment plan.
Positive
- None.
Negative
- None.
Insider Trade Summary
2 transactions reported
Mixed
2 txns
Insider
Cortopassi Robert M
Role
President and COO
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock | 8,288 | $82.47 | $684K |
| Tax Withholding | Common Stock | 4,515 | $82.47 | $372K |
Holdings After Transaction:
Common Stock — 57,410 shares (Direct)
Footnotes (1)
- Represents shares of fully-vested stock issued as a result of the vesting of performance-based restricted stock units which were originally granted on February 21, 2023 and were earned based on the company's achievement of an adjusted earnings per share growth target over a three-year performance period. Includes shares purchased pursuant to a dividend reinvestment plan. Represents the disposition of shares to the company to cover taxes on the vesting of awards.
FAQ
What insider transactions did GLOBAL PAYMENTS INC (GPN) report for Robert M. Cortopassi?
GLOBAL PAYMENTS INC reported that President and COO Robert M. Cortopassi received 8,288 fully vested common shares and disposed of 4,515 shares to cover taxes. These actions were tied to performance-based restricted stock units vesting after a three-year earnings-per-share growth period.
At what price were the GLOBAL PAYMENTS INC (GPN) Form 4 transactions recorded?
Both the 8,288-share award and the 4,515-share tax-withholding disposition were recorded at a price of $82.47 per share. This price is used for reporting purposes in the Form 4 and applies to the non-derivative common stock transactions.
How were performance goals tied to Robert M. Cortopassi’s GLOBAL PAYMENTS INC (GPN) stock vesting?
The vested shares came from performance-based restricted stock units earned on GLOBAL PAYMENTS INC’s adjusted earnings per share growth. The footnotes state the performance was measured over a three-year period starting with the February 21, 2023 grant date.