Haverty Furniture (NYSE: HVT) chair exercises RSUs, covers tax with 3,312 shares
Rhea-AI Filing Summary
HAVERTY FURNITURE COMPANIES INC Executive Chairman Clarence H. Smith reported compensation-related equity activity. He received a grant of 429 Phantom Stock units, reflected as 7,299 Phantom Stock units after the transaction under the Directors' Deferred Compensation Plan.
On the same date, he exercised restricted stock units (RSUs) that delivered a total of 6,623 shares of Common Stock, through exercises of 1,180, 2,795, and 2,648 RSUs. To cover tax obligations on these vestings, 3,312 Common Stock shares were withheld at $22.20 per share. The filing also lists substantial direct and indirect holdings in Class A Common Stock, Common Stock, RSUs, and performance RSUs that remain outstanding.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Buyer: 3,311 shares
Net Buy
17 txns
Insider
SMITH CLARENCE H
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Phantom Stock | 429 | $0.00 | $0.00 |
| Exercise | RSUs 2023 | 2,648 | $0.00 | $0.00 |
| Exercise | RSUs 2024 | 2,795 | $0.00 | $0.00 |
| Exercise | RSUs 2025 | 1,180 | $0.00 | $0.00 |
| Exercise | Common Stock | 2,648 | $0.00 | $0.00 |
| Exercise | Common Stock | 2,795 | $0.00 | $0.00 |
| Exercise | Common Stock | 1,180 | $0.00 | $0.00 |
| Exercise Price or Tax Liability | Common Stock | 3,312 | $22.20 | $74K |
| holding | RSUs 2026 | -- | -- | -- |
| holding | PRSUs 2024 | -- | -- | -- |
| holding | PRSUs 2025 | -- | -- | -- |
| holding | PRSUs 2025.1 | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Class A Common Stock | -- | -- | -- |
| holding | Class A Common Stock | -- | -- | -- |
| holding | Class A Common Stock | -- | -- | -- |
Holdings After Transaction:
Phantom Stock — 7,299 shares (Direct);
RSUs 2023 — 0 shares (Direct);
RSUs 2024 — 2,795 shares (Direct);
RSUs 2025 — 2,583 shares (Direct);
Common Stock — 92,696 shares (Direct);
RSUs 2026 — 2,424 shares (Direct);
PRSUs 2024 — 13,553 shares (Direct);
PRSUs 2025 — 15,903 shares (Direct);
PRSUs 2025.1 — 3,224 shares (Direct);
Common Stock — 7,850 shares (Indirect, By Georgia Limited Partnership);
Common Stock — 29,689 shares (Indirect, By Spouse);
Class A Common Stock — 125,236 shares (Direct);
Class A Common Stock — 1,950 shares (Indirect, By Spouse);
Class A Common Stock — 603,497 shares (Indirect, By Villa Clare, LP)
Footnotes (8)
- F1. Deferred under Directors' Deferred Compensation Plan. Settlement will occur as prescribed by the elections under the Plan.
- F2. Restricted Stock Units granted 1/26/2023 and vest ratably over 3 years beginning 5/8/2024. Each RSU is equivalent to one share of common stock upon vesting.
- F3. Restricted Stock Units granted 1/25/2024 and vest ratably over 3 years beginning 5/8/2025. Each RSU is equivalent to one share of common stock upon vesting.
- F4. Restricted Stock Units granted 1/23/2025 and vest ratably over 3 years beginning 5/8/2026. Each RSU is equivalent to one share of common stock upon vesting.
- F5. Restricted Stock Units granted 1/22/2026 and vest ratably over 3 years beginning 5/8/2027. Each RSU is equivalent to one share of common stock upon vesting.
- F6. Performance Restricted Stock Units ("PRSU") award granted 01/25/2024. Each PRSU represents a contingent right to receive one share of HVT common stock and was earned based on EBITDA for the year ended December 31, 2024, and will vest on February 28, 2027.
- F7. Performance Restrict Stock Units ("PRSU") award granted 01/22/2025. Each PRSU represents a contingent right to receive one share of HVT common stock and was earned based on EBITDA for the year ended December 31, 2025 and will vest on February 28, 2028.
- F8. Performance Restrict Stock Units ("PRSU") award granted 01/22/2025. Each PRSU represents a contingent right to receive one share of HVT common stock and was earned based on consolidated sales for the year ended December 31, 2025 and will vest on February 28, 2028.
Key Figures
Phantom Stock grant: 429 units
Phantom Stock balance: 7,299 units
RSUs exercised (RSUs 2025): 1,180 shares
+5 more
8 metrics
Phantom Stock grant
429 units
Grant of Phantom Stock deferred under Directors' Deferred Compensation Plan
Phantom Stock balance
7,299 units
Phantom Stock units following 429-unit grant
RSUs exercised (RSUs 2025)
1,180 shares
Common Stock received from RSUs 2025 exercise
RSUs exercised (RSUs 2024)
2,795 shares
Common Stock received from RSUs 2024 exercise
RSUs exercised (RSUs 2023)
2,648 shares
Common Stock received from RSUs 2023 exercise
Shares withheld for taxes
3,312 shares at $22.20
Common Stock withheld to pay tax liability on vesting
Remaining PRSUs 2025
15,903 units
Performance RSUs 2025 tied to EBITDA, as of this filing
Remaining PRSUs 2024
13,553 units
Performance RSUs 2024 tied to EBITDA, as of this filing
Key Terms
Phantom Stock, Directors' Deferred Compensation Plan, Restricted Stock Units, Performance Restricted Stock Units ("PRSU"), +1 more
5 terms
Phantom Stock financial
"Phantom Stock units are deferred under the Directors' Deferred Compensation Plan."
A phantom stock is a form of compensation that gives employees or executives the benefits of stock ownership, such as the increase in stock value, without actually giving them real shares. It acts like a promise to pay the employee the equivalent value of company stock later, often as a bonus or incentive. This allows companies to motivate and reward staff without diluting ownership or transferring actual shares.
Directors' Deferred Compensation Plan financial
"Deferred under Directors' Deferred Compensation Plan. Settlement will occur as prescribed by the elections under the Plan."
Restricted Stock Units financial
"Restricted Stock Units granted 1/26/2023 and vest ratably over 3 years beginning 5/8/2024."
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
Performance Restricted Stock Units ("PRSU") financial
"Performance Restricted Stock Units ("PRSU") award granted 01/25/2024."
tax-withholding disposition financial
"Payment of exercise price or tax liability by delivering securities"
A tax-withholding disposition is an event or transaction—such as selling or transferring securities, exercising options, or receiving compensation—that triggers a requirement to hold back part of the payment and remit it to tax authorities. It matters to investors because it reduces the cash they receive immediately and can change the timing and amount of taxable income, like a cashier taking a portion of your sale proceeds to pay taxes before you get the rest.
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What equity awards did Clarence H. Smith report in this HVT Form 4?
Clarence H. Smith reported a grant of 429 Phantom Stock units and vesting-related activity in multiple restricted stock unit (RSU) awards. These equity awards are part of his compensation and are tied to future delivery of Haverty Furniture common stock.
How many Haverty Furniture (HVT) RSUs did the Executive Chairman exercise?
The Executive Chairman exercised RSUs delivering 6,623 shares of Common Stock, from individual exercises of 1,180, 2,795, and 2,648 units. Each RSU converts into one share of common stock upon vesting, according to the plan footnotes in the Form 4 filing.
How were taxes handled on Clarence H. Smith’s recent HVT equity vesting?
To satisfy tax obligations related to his equity vesting, 3,312 shares of Haverty Furniture Common Stock were withheld at $22.20 per share. This tax-withholding disposition (code F) is not an open-market sale but payment of tax liability using company shares.
What are Phantom Stock units reported by Haverty Furniture’s Executive Chairman?
The 429 Phantom Stock units are deferred under the Directors' Deferred Compensation Plan, with settlement occurring per the director’s elections. These units track the value of Haverty Furniture stock but are paid later in cash or shares, as described in the plan.
What performance RSUs (PRSUs) remain outstanding for Clarence H. Smith at HVT?
The filing lists performance RSUs tied to EBITDA and consolidated sales for specific years, including awards labeled PRSUs 2024 and 2025. Each PRSU represents a contingent right to one share of common stock, vesting in future years if performance and time conditions are met.