Groupon (GRPN) COO exercises PSUs and receives new PSU and RSU grants
Rhea-AI Filing Summary
Groupon, Inc. Chief Operating Officer Jiri Ponrt reported multiple equity compensation transactions involving company stock. He exercised 129,375 Performance Share Units into Common Stock and, in a related move, 57,315 shares were withheld to cover mandatory tax obligations, which was not an open market sale. Following these transactions, he held 321,531 shares of Common Stock directly.
Ponrt also received new awards of 17,419 Performance Share Units and 17,419 Restricted Stock Units, each representing a right to receive one share of Common Stock. The PSUs vest only if stock price or relative total shareholder return and service conditions are met over multi‑year periods, while the RSUs vest in three equal annual tranches subject to continued service and a performance modifier.
Positive
- None.
Negative
- None.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Performance Share Units | 129,375 | $0.00 | -- |
| Grant/Award | Restricted Stock Units | 17,419 | $0.00 | -- |
| Grant/Award | Performance Share Units | 17,419 | $0.00 | -- |
| Exercise | Common Stock | 129,375 | $0.00 | -- |
| Tax Withholding | Common Stock | 57,315 | $14.89 | $853K |
Footnotes (1)
- Shares withheld to satisfy the mandatory tax withholding requirement upon the vesting of performance share units ("PSUs"). This is not an open market sale of securities. Each PSU represents a contingent right to receive one share of Groupon, Inc. (the "Issuer") Common Stock. The number of shares of Common Stock that will be acquired upon the vesting of the PSUs is contingent upon the: achievement of pre-established stock price hurdles over a three-year performance period beginning on May 1, 2024 and ending on May 1, 2027; and achievement of continued service conditions measured on each of May 1, 2025, May 1, 2026, and May 1, 2027. The PSUs shall vest immediately upon certification of the achievement of both conditions by the Compensation Committee of the Issuer's Board of Directors. Each restricted stock unit ("RSU") represents a contingent right to receive one share of Issuer Common Stock. The RSUs will vest in three equal tranches (one third on each of May 1, 2027, May 1, 2028, and May 1, 2029), subject to continued service and a year-end performance review modifier of 0% to 300% per tranche. The number of shares of Common Stock that will be acquired upon the vesting of the PSUs is contingent upon the Company's relative TSR vs. Russell 2000 Index over a three-year performance period (May 1, 2026 to May 1, 2029). The PSUs will cliff vest on May 1, 2029, ranging from 0% (at or below 50th percentile) to 300% (at or above 90th percentile). In the event of negative TSR, payout is capped at 100%.