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Gates Industrial President-Americas boosts stake via RSU conversion

Filing Impact
(High)
Filing Sentiment
(Negative)
Form Type
4

Rhea-AI Filing Summary

Gates Industrial Corp. plc (GTES) – Form 4 insider transaction. On 27-Jul-2025, Thomas G. Pitstick, President-Americas, converted 25,484 time-based RSUs into ordinary shares at no cost (Code M). To cover par value and tax obligations, 11,155 shares were withheld and disposed at $25.31 each (Code F). After the transactions, Pitstick directly owns 229,288 ordinary shares, up 14,329 shares from the prior balance.

In Table II, the 25,484 RSUs were removed from the derivative column; 56,124 RSUs remain outstanding, vesting in two future annual installments. No open-market purchases or sales occurred; activity reflects routine equity award vesting. No changes in indirect ownership were reported.

Positive

  • None.

Negative

  • None.

Insights

TL;DR: Routine RSU vesting; modest net increase in insider holdings, neutral signal.

The filing shows standard equity-award settlement rather than discretionary buying or selling. While the officer’s direct stake rises 6.7%, the net share change is immaterial versus GTES’s ~286 m shares outstanding and therefore unlikely to sway valuation. Remaining 56 k RSUs provide continued alignment but also potential dilution of <0.03%, already incorporated in diluted share count. Overall, the event is governance-routine with negligible market impact.

Insider Pitstick Thomas G.
Role President, Americas
Type Security Shares Price Value
Exercise Time-Based Restricted Stock Units 25,484 $0.00 --
Exercise Ordinary Shares 25,484 $0.00 --
Tax Withholding Ordinary Shares 11,155 $25.31 $282K
Holdings After Transaction: Time-Based Restricted Stock Units — 56,124 shares (Direct); Ordinary Shares — 240,443 shares (Direct)
Footnotes (1)
  1. Represents time-based restricted stock units ("TBRSU") that vested on the anniversary of the grant date. Represents ordinary shares withheld to satisfy par value and certain tax withholding related obligations in connection with the vesting of previously granted TBRSUs. Each TBRSU represents a contingent right to receive one share of the issuer ordinary shares. The TBRSUs will be settled in either ordinary shares or cash (or a combination thereof). The reporting person was granted TBRSUs that vest in three substantially equal annual installments beginning on the first anniversary of the grant date. The number set forth in Column 9 reflects all TBRSUs outstanding subject to future vesting.
Form 4 Insider Transactions: What Each Field Means →
SEC Form 4
FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number: 3235-0287
Estimated average burden
hours per response: 0.5
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
1. Name and Address of Reporting Person*
Pitstick Thomas G.
(Last) (First) (Middle)
C/O GATES INDUSTRIAL CORPORATION PLC
1144 FIFTEENTH STREET, SUITE 1400
(Street)
DENVER CO 80202
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
Gates Industrial Corp plc [ GTES ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director 10% Owner
X Officer (give title below) Other (specify below)
President, Americas
3. Date of Earliest Transaction (Month/Day/Year)
07/27/2025
4. If Amendment, Date of Original Filed (Month/Day/Year)
 6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Ordinary Shares 07/27/2025 M 25,484 A $0.00(1) 240,443 D
Ordinary Shares 07/27/2025 F(2) 11,155 D $25.31 229,288 D
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year) 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Time-Based Restricted Stock Units (3) 07/27/2025 M 25,484 (4) (4) Ordinary Shares 25,484 $0.00 56,124 D
Explanation of Responses:
1. Represents time-based restricted stock units ("TBRSU") that vested on the anniversary of the grant date.
2. Represents ordinary shares withheld to satisfy par value and certain tax withholding related obligations in connection with the vesting of previously granted TBRSUs.
3. Each TBRSU represents a contingent right to receive one share of the issuer ordinary shares. The TBRSUs will be settled in either ordinary shares or cash (or a combination thereof).
4. The reporting person was granted TBRSUs that vest in three substantially equal annual installments beginning on the first anniversary of the grant date. The number set forth in Column 9 reflects all TBRSUs outstanding subject to future vesting.
/s/ Hillary Barrett-Osborne as attorney-in-fact 07/29/2025
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

Source: View Original Filing on SEC EDGAR

FAQ

How many Gates Industrial (GTES) shares did Thomas G. Pitstick acquire?

He acquired 25,484 ordinary shares through RSU conversion.

Were any shares sold in the Form 4 filing?

11,155 shares were withheld/disposed at $25.31 to satisfy tax and par value obligations; no open-market sale occurred.

What is Pitstick’s total direct ownership after the transaction?

He now directly owns 229,288 GTES shares.

How many restricted stock units remain outstanding for the insider?

Pitstick retains 56,124 unvested RSUs that vest in two equal future installments.

Does the filing indicate any significant dilution for GTES shareholders?

The remaining RSUs represent <0.03% of shares outstanding, a negligible dilution level.