HII director granted 10.425 dividend stock units
Huntington Ingalls Industries director Frank R. Jimenez received 10.425 director stock units as dividend equivalents under the company’s long-term incentive stock plans.
Rhea-AI Filing Summary
Huntington Ingalls Industries director Frank R. Jimenez received 10.425 director stock units as dividend equivalents under the company’s long-term incentive stock plans. Each stock unit represents a right to receive one share of common stock after his board service ends, bringing his director stock unit balance to 3,150.911 units.
He also holds 550 shares of common stock directly, shown as a separate holding entry. The award is a routine, non-cash compensation-related acquisition tied to the company’s quarterly cash dividend.
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Insider Trade Summary
Grant/Award: 10.425 shares
Grant/Award
2 txns
Insider
Jimenez Frank R
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock (SUA) | 10.425 | $0.00 | $0.00 |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Common Stock (SUA) — 3,150.911 shares (Direct);
Common Stock — 550 shares (Direct)
Footnotes (1)
- F1. Pursuant to the Huntington Ingalls Industries, Inc. 2012 and 2022 Long-Term Incentive Stock Plan (together, the "LTISPs"), dividend equivalents are credited on each director stock unit ("SUA") held by the Reporting Person following the payment of the Company's quarterly cash dividend. Each SUA represents a right to receive one share of Company common stock, which will generally become payable within 30 days following the date a non-employee director ceases to provide services as a member of the board of directors. The number of dividend equivalents acquired by the Reporting Person under the LTISPs is calculated by dividing the aggregate amount of the dividend paid on the total number of SUAs held by the Reporting Person by the closing price of a share of Company common stock on the dividend payment date.
FAQ
What did HII director Frank R. Jimenez report in this Form 4 filing?
Director Frank R. Jimenez reported receiving 10.425 director stock units as dividend equivalents under Huntington Ingalls Industries’ long-term incentive stock plans. These units arise from the company’s quarterly cash dividend and are part of routine board compensation, not an open-market stock purchase or sale.
Are the 10.425 HII director stock units a cash transaction or equity award?
The 10.425 units are an equity-based award, not a cash transaction. They are dividend equivalents credited on existing director stock units under HII’s 2012 and 2022 Long-Term Incentive Stock Plans after payment of the company’s quarterly cash dividend.
How many Huntington Ingalls director stock units does Frank R. Jimenez hold after this award?
After this award, Frank R. Jimenez holds 3,150.911 director stock units. Each unit generally converts into one share of HII common stock, typically within 30 days after he ceases serving as a non-employee member of the board of directors.
When will the HII director stock units reported by Frank R. Jimenez become payable?
The director stock units will generally become payable within 30 days after Frank R. Jimenez stops serving as a non-employee director. At that time, each unit entitles him to receive one share of Huntington Ingalls Industries common stock, subject to the plan’s terms.
How are the 10.425 dividend-equivalent stock units for HII director Jimenez calculated?
The 10.425 dividend-equivalent units are calculated by dividing the aggregate cash dividend paid on his outstanding director stock units by the closing price of HII common stock on the dividend payment date, as specified in the company’s long-term incentive stock plans.
Does Frank R. Jimenez hold any HII common stock directly in addition to stock units?
Yes. In addition to director stock units, the filing shows Frank R. Jimenez directly holds 550 shares of Huntington Ingalls Industries common stock. This holding is reported separately from the 3,150.911 director stock units, which represent deferred rights to future share delivery.
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