Huntington Ingalls (NYSE: HII) CFO awarded dividend-equivalent stock rights
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Stiehle Thomas E. reported acquisition or exercise transactions in this Form 4 filing.
Huntington Ingalls Industries executive vice president and CFO Thomas E. Stiehle reported a compensation-related stock transaction. He received 13.141 Restricted Stock Rights as dividend-equivalent credits tied to the company’s quarterly cash dividend, under the 2022 Long-Term Incentive Stock Plan. Following this grant, his reported Restricted Stock Rights balance is 3,971.797, each representing a contingent right to receive an equivalent number of common shares, cash, or a mix of both at the Compensation Committee’s discretion.
Positive
- None.
Negative
- None.
Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
Stiehle Thomas E.
Role
Ex. VP and CFO
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Restricted Stock Rights | 13.141 | $0.00 | -- |
Holdings After Transaction:
Restricted Stock Rights — 3,971.797 shares (Direct)
Footnotes (1)
- Each Restricted Stock Right ("RSR") represents a contingent right to receive an equivalent number of shares of Company common stock, or, at the discretion of the Company's Compensation Committee, cash or a combination of cash and Company common stock. The RSRs were granted under the 2022 Long-Term Incentive Stock Plan ("LTISP"). The amount acquired represents dividend equivalent rights on the RSRs, which are credited following payment of the Company's quarterly cash dividend. Pursuant to the LTISP, the number of dividend equivalent rights acquired is calculated by dividing the aggregate amount of the dividend paid on the total number of RSRs held by the reporting person by the closing price of a share of Company common stock on the dividend payment date.
FAQ
What insider transaction did HII CFO Thomas E. Stiehle report on this Form 4?
Thomas E. Stiehle reported receiving 13.141 Restricted Stock Rights as a grant. These rights were credited as dividend equivalents on existing awards following Huntington Ingalls Industries’ quarterly cash dividend under its 2022 Long-Term Incentive Stock Plan.
How many Restricted Stock Rights does the HII CFO hold after this transaction?
After this transaction, the HII CFO’s reported balance is 3,971.797 Restricted Stock Rights. Each right represents a contingent claim on an equivalent number of Huntington Ingalls Industries common shares, cash, or a combination, at the Compensation Committee’s discretion.
What are Restricted Stock Rights in the context of Huntington Ingalls Industries (HII)?
Restricted Stock Rights are awards that give the holder a contingent right to receive company common stock. For HII, each right can instead be settled in cash or a mix of cash and stock, as determined by the company’s Compensation Committee under its incentive plan.
Why did HII grant 13.141 dividend-equivalent Restricted Stock Rights to its CFO?
The 13.141 Restricted Stock Rights represent dividend equivalent rights on existing awards. Under HII’s 2022 Long-Term Incentive Stock Plan, dividend equivalents are calculated by dividing the total dividend on the CFO’s RSRs by the closing price of HII common stock on the dividend payment date.
Is the HII CFO’s Form 4 transaction an open-market purchase or sale of stock?
No, the Form 4 shows a grant-type acquisition of derivative awards, not an open-market trade. The CFO received 13.141 Restricted Stock Rights as dividend-equivalent credits on existing awards, reflecting routine compensation mechanics rather than buying or selling shares in the market.
Under which compensation plan were the new HII Restricted Stock Rights granted?
The new Restricted Stock Rights were granted under Huntington Ingalls Industries’ 2022 Long-Term Incentive Stock Plan. This plan governs long-term equity-based compensation, including the treatment of dividend equivalents on Restricted Stock Rights held by executives such as the CFO.