Green Brick (NYSE: GRBK) CFO nets shares after RSU vesting and tax withholding
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Green Brick Partners CFO Jeffery Dean Cox reported equity award activity in company stock. On the transaction date, 235 Restricted Stock Units vested and converted into 235 shares of common stock at a stated price of $0.00 per share under the company’s 2024 Omnibus Incentive Plan.
Of the shares received, 93 common shares were surrendered at $70.26 per share to cover taxes due at vesting, leaving 734 common shares held directly afterward. Cox also continues to hold time-based and performance-based RSUs that convert into common stock on a one-for-one basis if and when they vest under the long-term incentive program.
Positive
- None.
Negative
- None.
Insider Trade Summary
235 shares exercised/converted
Mixed
8 txns
Insider
COX JEFFERY DEAN
Role
CFO
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units | 235 | $0.00 | -- |
| Exercise | Common Stock | 235 | $0.00 | -- |
| Tax Withholding | Common Stock | 93 | $70.26 | $7K |
| holding | Restricted Stock Units | -- | -- | -- |
| holding | Performance Based Restricted Stock Units | -- | -- | -- |
| holding | Performance Based Restricted Stock Units | -- | -- | -- |
| holding | Restricted Stock Units | -- | -- | -- |
| holding | Restricted Stock Units | -- | -- | -- |
Holdings After Transaction:
Restricted Stock Units — 0 shares (Direct);
Common Stock — 827 shares (Direct);
Performance Based Restricted Stock Units — 2,933 shares (Direct)
Footnotes (1)
- Represents the Restricted Stock Units ("RSU"s) that vested under the Company's 2024 Omnibus Incentive Plan (the "Plan"). Reflects shares withheld for taxes payable upon the vesting of the RSUs. The RSUs convert into shares of Common Stock on a one-for-one basis upon vesting. These RSUs were granted pursuant to the Company's Long-Term Incentive Program ("LTIP") under the Plan and vest equally on the first, second and third anniversary of the Grant Date. These Performance-Based Restricted Stock Units ("PSU"s) convert into shares of Common Stock on a one-for-one basis upon vesting. These PSUs were granted pursuant to the Company's LTIP and are earned between 50% and 200% based on the Company's performance during the 2025-2027 Performance Period, provided that the Company's performance exceeds the threshold performance level. Once earned, the PSUs vest on the third anniversary of the Grant Date. These PSUs were granted pursuant to the Company's LTIP and are earned in four segments, (1) 16.66% are earned based on performance during 2025, (2) 16.67% are earned based on performance during each of 2026 and 2027 and (3) 50% are earned based on the Company's three-year performance. The PSUs in each segment can be earned between 50% and 200% based on the Company's performance, provided that the Company's performance exceeds the threshold performance level. Once earned, the PSUs vest on the third anniversary of the Grant Date.
FAQ
What did GRBK CFO Jeffery Dean Cox report in this Form 4?
CFO Jeffery Dean Cox reported vesting of 235 Restricted Stock Units that converted into an equal number of Green Brick Partners common shares. He also reported related tax withholding, where a portion of the newly vested shares was withheld to satisfy tax obligations tied to the vesting event.
How were taxes handled on Jeffery Dean Cox’s vested GRBK RSUs?
Taxes on the vested RSUs were paid by surrendering 93 shares of Green Brick Partners common stock at $70.26 per share. This “F” code transaction reflects shares withheld by the company to cover tax liabilities triggered when the Restricted Stock Units vested into common shares.
How do GRBK RSUs and PSUs convert into common stock for the CFO?
Both Restricted Stock Units and Performance-Based Restricted Stock Units convert into Green Brick Partners common stock on a one-for-one basis upon vesting. Performance-based units can be earned between 50% and 200% of target, depending on company performance during specified multi-year performance periods under the long-term incentive plan.
What performance conditions apply to GRBK performance-based RSUs held by the CFO?
Some performance-based RSUs are earned between 50% and 200% based on company performance during the 2025–2027 performance period. Others are earned in four segments tied to yearly and three-year performance, with vesting on the third anniversary of the grant date once the performance conditions are satisfied.