Haverty Furniture (NYSE: HVT) CFO receives PRSUs and withholds shares for taxes
Rhea-AI Filing Summary
HAVERTY FURNITURE COMPANIES INC EVP and CFO Richard B. Hare reported multiple equity award transactions. He received grants of 13,498 PRSUs labeled 2025 and 2,737 PRSUs labeled 2025.1, each representing a contingent right to one share of common stock, tied to 2025 EBITDA and consolidated sales performance and scheduled to vest on February 28, 2028.
He also exercised previously granted 2023 performance restricted stock units covering 5,669 and 752 shares, converting them into the same number of common shares at a stated price of $0.00. In connection with these vestings, 2,796 common shares at $23.81 per share were disposed of to satisfy tax withholding obligations, leaving him with 27,122 common shares held directly.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Buyer: 3,625 shares
Net Buy
13 txns
Insider
Hare Richard B
Role
EVP, CFO
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | PRSUs 2025 | 13,498 | $0.00 | $0.00 |
| Grant/Award | PRSUs 2025.1 | 2,737 | $0.00 | $0.00 |
| Exercise | PRSUs 2023 | 5,669 | $0.00 | $0.00 |
| Exercise | PRSUs 2023.1 | 752 | $0.00 | $0.00 |
| Exercise | Common Stock | 5,669 | $0.00 | $0.00 |
| Exercise | Common Stock | 752 | $0.00 | $0.00 |
| Exercise Price or Tax Liability | Common Stock | 2,796 | $23.81 | $67K |
| holding | PRSUs 2024 | -- | -- | -- |
| holding | RSUs 2023 | -- | -- | -- |
| holding | RSUs 2024 | -- | -- | -- |
| holding | RSUs 2025 | -- | -- | -- |
| holding | RSUs 2026 | -- | -- | -- |
| holding | Class A Common Stock | -- | -- | -- |
Holdings After Transaction:
PRSUs 2025 — 13,498 shares (Direct);
PRSUs 2025.1 — 2,737 shares (Direct);
PRSUs 2023 — 0 shares (Direct);
PRSUs 2023.1 — 0 shares (Direct);
Common Stock — 27,122 shares (Direct);
PRSUs 2024 — 3,494 shares (Direct);
RSUs 2023 — 1,195 shares (Direct);
RSUs 2024 — 2,376 shares (Direct);
RSUs 2025 — 5,693 shares (Direct);
RSUs 2026 — 5,970 shares (Direct);
Class A Common Stock — 10,000 shares (Direct)
Footnotes (9)
- F1. 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.
- F2. 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.
- F3. Performance Restricted Stock Units ("PRSUs") award granted 1/26/2023. 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, 2023, and will vest on February 28, 2026.
- F4. Performance Restricted Stock Units ("PRSUs") award granted 1/26/2023. 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, 2023, and will vest on February 28, 2026.
- F5. 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.
- F6. 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.
- F7. 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.
- F8. 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.
- F9. 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.
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What insider transactions did HVT CFO Richard B. Hare report on this Form 4?
Richard B. Hare reported grants of new performance restricted stock units and exercises of earlier PRSUs into common stock, plus a share disposition to cover taxes. These transactions reflect equity-based compensation rather than open-market purchases or sales of Haverty Furniture Companies common stock.
How many new performance restricted stock units did HVT grant to its CFO?
He received 13,498 PRSUs labeled 2025 and 2,737 PRSUs labeled 2025.1. Each PRSU represents a contingent right to one share of HVT common stock, earned based on 2025 EBITDA or consolidated sales and scheduled to vest on February 28, 2028, subject to conditions.
What 2023 PRSU awards for HVT’s CFO vested or were exercised in this filing?
Performance restricted stock units granted in 2023 covering 5,669 and 752 shares were exercised or converted into common stock at a stated price of $0.00. These PRSUs were earned based on 2023 EBITDA and consolidated sales performance and were structured to vest on February 28, 2026.
What do the PRSU and RSU footnotes for HVT’s CFO explain?
The footnotes explain that each PRSU or RSU equals one common share upon vesting, and describe grant dates, performance metrics such as EBITDA or consolidated sales, and vesting schedules. They also note ratable vesting over three years for certain RSU awards beginning on specified May 8 vesting dates.