Getty Realty (NYSE: GTY) awards 7,000 RSUs to board director
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
SAFENOWITZ HOWARD B reported acquisition or exercise transactions in this Form 4 filing.
Getty Realty Corp. director Howard B. Safenowitz received a grant of 7,000 Restricted Stock Units (RSUs) as a form of equity compensation. These RSUs were awarded for no cash consideration and increase his directly held RSU balance to 74,500 units.
Each RSU will be settled, at the Compensation Committee’s discretion, in either one share of common stock or cash equal to the share’s fair market value on the settlement date. The RSUs vest ratably over five years starting on the first anniversary of the grant, subject to continued board service and accelerated vesting in certain termination, death, or retirement scenarios under the company’s incentive plan.
Positive
- None.
Negative
- None.
Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
SAFENOWITZ HOWARD B
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Restricted Stock Unit | 7,000 | $0.00 | -- |
Holdings After Transaction:
Restricted Stock Unit — 74,500 shares (Direct)
Footnotes (1)
- Each Restricted Stock Unit (RSU) is settled at the discretion of the Compensation Committee in one share of common stock or in cash in an amount equal to the fair market value of one share of common stock on the settlement date noted in footnote (2) below. RSUs vest ratably over 5 years commencing on the 1st anniversary of the grant date, subject to continued service with the Issuer on each vesting date, except that to the extent unvested, RSUs fully vest upon death or upon termination of service for any reason other than the Reporting Person voluntarily electing to resign from the Board, voluntarily electing not to stand for re-election, or being involuntarily removed from the Board (excluding a failure to be re-elected by the stockholders). RSUs may also vest in the discretion of the Compensation Committee upon retirement from the Board, subject to the terms of the Issuer's Third Amended and Restated 2004 Omnibus Incentive Compensation Plan and the applicable grant agreement. RSUs are settled in cash or common stock, in the discretion of the Compensation Committee, within thirty (30) days following the applicable vesting date. The RSUs were received by the Reporting Person for no consideration.
FAQ
What did Getty Realty (GTY) director Howard B. Safenowitz report on this Form 4?
Howard B. Safenowitz reported receiving a grant of 7,000 Restricted Stock Units from Getty Realty. The award was received for no cash consideration and brings his directly held RSU balance to 74,500 units following the transaction on the reported grant date.
How do the new 7,000 RSUs for Getty Realty (GTY) vest over time?
The 7,000 RSUs vest ratably over five years starting on the first anniversary of the grant date. Continued service on the board is required for each vesting date, with certain accelerated vesting provisions applying for death, qualifying termination, or potential retirement scenarios.
How will Howard B. Safenowitz’s Getty Realty (GTY) RSUs be settled?
Each RSU is settled at the Compensation Committee’s discretion in either one share of Getty Realty common stock or cash equal to its fair market value. Settlement occurs within thirty days after each applicable vesting date, following the terms of the company’s omnibus incentive plan.
Did Howard B. Safenowitz pay anything for the 7,000 Getty Realty (GTY) RSUs?
No, the RSUs were received for no consideration, meaning Safenowitz did not pay cash for the 7,000 units. They represent equity-based compensation granted under Getty Realty’s Third Amended and Restated 2004 Omnibus Incentive Compensation Plan and the related grant agreement.
What happens to the Getty Realty (GTY) RSUs if the director leaves the board?
Unvested RSUs generally fully vest upon death or termination for reasons other than the director’s voluntary resignation or election not to stand for re-election. The Compensation Committee may also approve vesting upon retirement, subject to the company’s omnibus incentive plan and grant terms.