Goodyear (GT) legal chief granted 87,155 PSUs and 65,366 RSUs
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Goodyear Tire & Rubber reported equity awards to Sr VP and Chief Legal Officer David Emmitt Phillips under its 2022 Performance Plan. He received 87,155 Performance Share Units that may pay out in February 2029 in common stock, depending on performance over a three-year period ending December 31, 2028, with payout ranging from 0% to 200% and subject to an additional adjustment of up to 20% based on total shareholder return versus a peer group. He also received 65,366 Restricted Stock Units that will vest and convert into common shares in three equal 33% installments over three years starting March 1, 2027.
Positive
- None.
Negative
- None.
Insider Trade Summary
2 transactions reported
Mixed
2 txns
Insider
Phillips David Emmitt
Role
Sr VP and Chief Legal Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | 2022 Plan Performance Share Units | 87,155 | $0.00 | -- |
| Grant/Award | 2022 Plan Restricted Stock Units | 65,366 | $0.00 | -- |
Holdings After Transaction:
2022 Plan Performance Share Units — 87,155 shares (Direct);
2022 Plan Restricted Stock Units — 65,366 shares (Direct)
Footnotes (1)
- Performance Share Unit grant under the 2022 Performance Plan, contingently payable (to the extent earned) 100% in shares of common stock in February 2029. The number of Units paid, which can range from 0% to 200% of the Units reported on this Form 4, depends on the attainment of certain performance goals over a 3-year period ending December 31, 2028, and is subject to increase or decrease of up to 20% based on the Company's total shareholder return vs. a peer group over the 3-year period ending December 31, 2028. Restricted Stock Unit ("RSU") grant under the 2022 Performance Plan. The RSUs will vest and convert into shares of common stock in 33% increments over three years commencing on March 1, 2027.
FAQ
What insider transactions did GT’s David Emmitt Phillips report on this Form 4?
David Emmitt Phillips reported receiving two equity awards under Goodyear’s 2022 Performance Plan. He acquired 87,155 Performance Share Units and 65,366 Restricted Stock Units, both granted at a price of $0.00 per unit as part of his executive compensation.
What are the vesting terms for the 65,366 Restricted Stock Units granted by GT?
The 65,366 Restricted Stock Units vest in three equal 33% installments over three years. Vesting begins on March 1, 2027, with each vested portion converting into shares of Goodyear common stock upon each annual vesting date under the 2022 Performance Plan.
Is the GT Form 4 transaction a stock purchase or option exercise by David Phillips?
The Form 4 reflects grant or award acquisitions, not open-market purchases or option exercises. Both the Performance Share Units and Restricted Stock Units were granted at $0.00 per unit as part of the company’s long-term incentive compensation program.