IFF (NYSE: IFF) CFO DeVeau reports RSU vesting and tax withholding shares
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
INTERNATIONAL FLAVORS & FRAGRANCES INC EVP and CFO Michael DeVeau reported routine equity compensation activity involving Restricted Stock Units (RSUs) tied to company common stock. On May 4, 2026, 884 RSUs converted into an equal number of common shares. To cover taxes due at vesting, 452 of these shares were withheld at a reference price of $70.09 per share, resulting in a net increase of common shares held. Following these transactions, DeVeau directly owned about 14,476 common shares, and 1,768 RSUs from the original 2,652-unit grant dated May 3, 2023 continue to vest in equal annual installments.
Positive
- None.
Negative
- None.
Insider Trade Summary
884 shares exercised/converted
Mixed
3 txns
Insider
DeVeau Michael
Role
EVP, CFO
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units | 884 | $70.09 | $62K |
| Exercise | Common Stock | 884 | $0.00 | -- |
| Tax Withholding | Common Stock | 452 | $70.09 | $32K |
Holdings After Transaction:
Restricted Stock Units — 19,468 shares (Direct, null);
Common Stock — 14,475.572 shares (Direct, null)
Footnotes (1)
- The Restricted Stock Units ("RSUs") convert to Common Stock on a one-for-one basis. Reflects shares withheld for taxes payable upon the vesting of RSUs. On May 3, 2023, the reporting person was granted 2,652 RSUs, vesting in three equal installments beginning on the first anniversary of the grant date.
Key Figures
RSUs vested: 884 units
Shares withheld for taxes: 452 shares
Tax reference price: $70.09 per share
+3 more
6 metrics
RSUs vested
884 units
RSUs converting to common stock on May 4, 2026
Shares withheld for taxes
452 shares
Common stock withheld upon RSU vesting
Tax reference price
$70.09 per share
Price applied to withheld shares for tax purposes
Common shares after exercise
14,475.572 shares
Direct holdings following non-derivative transactions
Original RSU grant
2,652 units
Grant made on May 3, 2023 to EVP, CFO
RSU vesting schedule
3 equal installments
Annual vesting beginning first anniversary of grant
Key Terms
Restricted Stock Units, RSUs convert to Common Stock, shares withheld for taxes payable upon the vesting of RSUs
3 terms
Restricted Stock Units financial
"The Restricted Stock Units ("RSUs") convert to Common Stock on a one-for-one basis."
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.
RSUs convert to Common Stock financial
"The Restricted Stock Units ("RSUs") convert to Common Stock on a one-for-one basis."
FAQ
What insider transactions did IFF EVP CFO Michael DeVeau report on this Form 4?
Michael DeVeau reported vesting of 884 Restricted Stock Units that converted into common stock and a related tax-withholding share disposition. These actions reflect routine equity compensation events rather than open-market buying or selling of INTERNATIONAL FLAVORS & FRAGRANCES INC shares.
Did Michael DeVeau increase his IFF common stock holdings through this RSU vesting?
Yes. Although 452 shares were withheld for taxes, 884 RSUs converted into common stock, leaving a net addition of shares. After these transactions, DeVeau directly owned about 14,476 IFF common shares, reflecting routine compensation-driven ownership growth.
What are Restricted Stock Units (RSUs) in the context of IFF’s executive compensation?
Restricted Stock Units are share-based awards that convert into common stock once vesting conditions are met. For IFF, DeVeau’s RSUs convert on a one-for-one basis into common shares, with the 2,652-unit grant vesting in three equal annual installments from the grant date.
How is Michael DeVeau’s 2023 RSU grant at IFF structured over time?
On May 3, 2023, DeVeau received 2,652 RSUs that vest in three equal installments. The first third vested on the first anniversary, with future installments following annually. Remaining unvested RSUs continue to represent potential future common shares upon vesting and conversion.