Hubbell (HUBB) EVP Katherine Lane reports stock award vesting and tax share withholding
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
HUBBELL INC Executive VP and General Counsel Katherine Anne Lane reported routine equity compensation activity in company stock. She received 984 shares of Common Stock as a grant tied to a performance share award that vested based on the company’s relative sales growth over a three-year period. In connection with this vesting, 456 shares were disposed of through tax-withholding at $513.18 per share to cover tax obligations, rather than being sold on the open market. After these transactions, she directly holds 17,766 shares of Hubbell common stock.
Positive
- None.
Negative
- None.
Insider Trade Summary
2 transactions reported
Mixed
2 txns
Insider
LANE KATHERINE ANNE
Role
Executive VP, GC & Secretary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock | 984 | $0.00 | -- |
| Tax Withholding | Common Stock | 456 | $513.18 | $234K |
Holdings After Transaction:
Common Stock — 17,766 shares (Direct, null)
Footnotes (1)
- Shares of the Company's Common Stock acquired upon the vesting of a performance share award granted on February 7, 2023, which vested at 147% of the target amount of the award based upon the Company's relative sales growth as compared to the other companies in the Standard & Poor's Capital Goods 900 Index measured over a three year period. Shares withheld for payment of taxes upon vesting of performance shares.
Key Figures
Tax-withheld shares: 456 shares at $513.18
Performance award shares vested: 984 shares
Post-transaction holdings: 17,766 shares
+1 more
4 metrics
Tax-withheld shares
456 shares at $513.18
Shares withheld to pay taxes on vesting performance shares
Performance award shares vested
984 shares
Common Stock acquired as grant/award acquisition
Post-transaction holdings
17,766 shares
Common Stock directly held after Form 4 transactions
Vesting level vs target
147% of target
Performance share award vesting based on relative sales growth
Key Terms
performance share award, withheld for payment of taxes, Standard & Poor's Capital Goods 900 Index, relative sales growth
4 terms
withheld for payment of taxes financial
"Shares withheld for payment of taxes upon vesting of performance shares"
Standard & Poor's Capital Goods 900 Index financial
"based upon the Company's relative sales growth as compared to the other companies in the Standard & Poor's Capital Goods 900 Index"
relative sales growth financial
"which vested at 147% of the target amount of the award based upon the Company's relative sales growth"
FAQ
What insider transactions did HUBB (Hubbell Inc) report for Katherine Anne Lane?
Hubbell reported that Executive VP and General Counsel Katherine Anne Lane received 984 shares as a performance-based stock award. At the same time, 456 shares were withheld to cover taxes due upon vesting, leaving her with 17,766 directly held shares.
Were the HUBB insider transactions open-market buys or sales?
The filing shows no open-market buying or selling. Instead, Lane received 984 shares as a stock grant and 456 shares were disposed of through tax withholding, a non-market mechanism used to satisfy tax liabilities on vested awards.
What performance conditions triggered the HUBB stock award to Katherine Anne Lane?
The award vested based on Hubbell’s relative sales growth over three years compared to companies in the Standard & Poor’s Capital Goods 900 Index. The performance share award vested at 147% of its target amount according to the filing footnote.
What does the tax-withholding disposition mean in the HUBB Form 4 filing?
The 456-share tax-withholding disposition means shares were withheld at $513.18 each to pay taxes on vested performance shares. This is an administrative step handled by the issuer, not an open-market stock sale executed by the insider.