Haverty Furniture (NYSE: HVT) chair reports PRSU grants, vesting and tax share withholding
Rhea-AI Filing Summary
HAVERTY FURNITURE COMPANIES INC Executive Chairman Clarence H. Smith reported multiple equity award and vesting transactions. On February 27, 2026, he received grants of 15,903 PRSUs 2025 and 3,224 PRSUs 2025.1, each representing a contingent right to one share of HVT common stock, earned based on 2025 EBITDA and consolidated sales and scheduled to vest on February 28, 2028.
Smith also exercised 20,722 PRSUs 2023 and 2,747 PRSUs 2023.1, converting them at no cost into the same number of HVT common shares. To satisfy tax obligations, 10,562 common shares were disposed of at $23.81 per share through share withholding rather than an open-market sale.
After these transactions, Smith directly holds 90,085 shares of common stock and 124,536 shares of Class A common stock, along with various outstanding PRSUs, RSUs, phantom stock, and additional indirect holdings through his spouse and a Georgia limited partnership.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Buyer: 12,907 shares
Net Buy
18 txns
Insider
SMITH CLARENCE H
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | PRSUs 2025 | 15,903 | $0.00 | $0.00 |
| Grant/Award | PRSUs 2025.1 | 3,224 | $0.00 | $0.00 |
| Exercise | PRSUs 2023 | 20,722 | $0.00 | $0.00 |
| Exercise | PRSUs 2023.1 | 2,747 | $0.00 | $0.00 |
| Exercise | Common Stock | 20,722 | $0.00 | $0.00 |
| Exercise | Common Stock | 2,747 | $0.00 | $0.00 |
| Exercise Price or Tax Liability | Common Stock | 10,562 | $23.81 | $251K |
| holding | PRSUs 2024 | -- | -- | -- |
| holding | RSUs 2023 | -- | -- | -- |
| holding | RSUs 2024 | -- | -- | -- |
| holding | RSUs 2025 | -- | -- | -- |
| holding | RSUs 2026 | -- | -- | -- |
| holding | Phantom Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Class A Common Stock | -- | -- | -- |
| holding | Class A Common Stock | -- | -- | -- |
| holding | Class A Common Stock | -- | -- | -- |
Holdings After Transaction:
PRSUs 2025 — 15,903 shares (Direct);
PRSUs 2025.1 — 3,224 shares (Direct);
PRSUs 2023 — 0 shares (Direct);
PRSUs 2023.1 — 0 shares (Direct);
Common Stock — 90,085 shares (Direct);
PRSUs 2024 — 13,553 shares (Direct);
RSUs 2023 — 2,648 shares (Direct);
RSUs 2024 — 5,590 shares (Direct);
RSUs 2025 — 3,763 shares (Direct);
RSUs 2026 — 2,424 shares (Direct);
Phantom Stock — 6,870 shares (Direct);
Common Stock — 29,689 shares (Indirect, By Spouse);
Common Stock — 7,850 shares (Indirect, By Georgia Limited Partnership);
Class A Common Stock — 124,536 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 (10)
- 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.
- F10. Deferred under Directors' Deferred Compensation Plan. Settlement will occur as prescribed by the elections under the Plan.
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FAQ
What did Clarence H. Smith report in his latest Form 4 for HVT?
Clarence H. Smith reported new grants, vesting, and tax-related share withholding. He received 2025 PRSU awards, exercised 2023 PRSUs into common stock, and had 10,562 shares withheld at $23.81 per share to cover tax liabilities, rather than selling shares on the market.
How many new PRSUs did HVT’s Executive Chairman receive in 2025 awards?
He received two 2025 PRSU awards totaling 19,127 units. One grant covers 15,903 PRSUs tied to EBITDA, and another covers 3,224 PRSUs tied to consolidated sales. Each PRSU represents a contingent right to one share of Haverty Furniture common stock upon future vesting.
What happened to Clarence H. Smith’s 2023 PRSUs in this HVT Form 4?
The 2023 PRSUs were exercised and converted into common stock. Specifically, 20,722 PRSUs 2023 and 2,747 PRSUs 2023.1 became the same number of Haverty Furniture common shares at no cost, following performance conditions related to 2023 EBITDA and consolidated sales.
What are the vesting schedules for the key HVT PRSU and RSU awards in this filing?
The 2025 PRSUs vest on February 28, 2028, after being earned based on 2025 EBITDA and consolidated sales. RSUs granted in 2023, 2024, 2025, and 2026 vest ratably over three years, beginning on May 8 of 2024, 2025, 2026, and 2027, respectively.