Getty Realty (GTY) director Milton Cooper granted 7,000 RSUs at no cost
Rhea-AI Filing Summary
COOPER MILTON reported acquisition or exercise transactions in this Form 4 filing.
Getty Realty Corp. director Milton Cooper received a grant of 7,000 Restricted Stock Units (RSUs). These RSUs were awarded for no cash consideration and increase his directly held RSU balance to 74,500 units following the transaction.
Each RSU can be settled at the discretion of the Compensation Committee in either one share of common stock or cash equal to the share’s fair market value on the applicable settlement date. The RSUs vest in equal installments over five years starting on the first anniversary of the grant, subject to Cooper’s continued service on the board, with accelerated vesting in certain circumstances such as death or qualifying termination from the board.
Positive
- None.
Negative
- None.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Restricted Stock Unit | 7,000 | $0.00 | -- |
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.