Huntington Ingalls (NYSE: HII) executive awarded additional dividend Restricted Stock Rights
Rhea-AI Filing Summary
Huntington Ingalls Industries executive Brian D. Blanchette reported an acquisition of additional Restricted Stock Rights (RSRs) as part of his compensation. On this Form 4, he received 13.702 RSRs representing dividend equivalent rights tied to the company’s quarterly cash dividend.
Each RSR is a contingent right to receive an equivalent number of Huntington Ingalls common shares, or cash, or a combination of both, at the discretion of the company’s Compensation Committee. These RSRs were granted under the 2022 Long-Term Incentive Stock Plan and vest in three equal annual installments on the first, second, and third anniversaries of the grant date.
The dividend equivalent rights are calculated by dividing the total dividend paid on Blanchette’s outstanding RSRs by the closing price of Huntington Ingalls common stock on the dividend payment date. Following this award, he holds a total of 2,969.280 RSRs directly.
Positive
- None.
Negative
- None.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Restricted Stock Rights | 13.702 | $0.00 | -- |
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") and vest ratably in three equal installments upon each of the first, second and third anniversaries of the grant date. 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.