Huntington Ingalls (NYSE: HII) director receives 10.425 dividend-equivalent stock units
Filing Impact
Filing Sentiment
Form Type
4
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.
Positive
- None.
Negative
- None.
Insider Trade Summary
2 transactions reported
Mixed
2 txns
Insider
Jimenez Frank R
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock (SUA) | 10.425 | $0.00 | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Common Stock (SUA) — 3,150.911 shares (Direct);
Common Stock — 550 shares (Direct)
Footnotes (1)
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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.