LCI Industries (LCII) exec exercises RSUs, receives new PSU and RSU grants
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
LCI Industries Group President – N.A. Ryan Richard Smith reported multiple equity transactions on March 1, 2026. He exercised 3,931, 3,722, and 4,069 restricted stock units at $133.20 each, receiving the same number of common shares.
To cover taxes, 5,194 common shares were disposed of through share withholding. Smith also received new awards of 8,368 restricted stock units and 12,552 performance stock units that may convert into common shares if return on invested capital and free cash flow goals are met by the end of 2028 and would vest on March 1, 2029.
In addition, 23,575 performance stock units granted on March 1, 2023 were forfeited after the company determined none would vest based on performance over the applicable period. RSU grants vest in equal installments over three years from their respective grant dates.
Positive
- None.
Negative
- None.
Insider Trade Summary
11,722 shares exercised/converted
Mixed
12 txns
Insider
SMITH RYAN RICHARD
Role
Group President - N.A.
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Unit | 3,931 | $133.20 | $524K |
| Exercise | Restricted Stock Unit | 3,722 | $133.20 | $496K |
| Exercise | Restricted Stock Unit | 4,069 | $133.20 | $542K |
| Grant/Award | Restricted Stock Unit | 8,368 | $0.00 | -- |
| Grant/Award | Performance Stock Unit | 12,552 | $0.00 | -- |
| Disposition | Performance Stock Unit | 23,575 | $0.00 | -- |
| Exercise | Common Stock | 3,931 | $133.20 | $524K |
| Exercise | Common Stock | 3,722 | $133.20 | $496K |
| Exercise | Common Stock | 4,069 | $133.20 | $542K |
| Tax Withholding | Common Stock | 5,194 | $0.00 | -- |
| holding | Performance Stock Unit | -- | -- | -- |
| holding | Performance Stock Unit | -- | -- | -- |
Holdings After Transaction:
Restricted Stock Unit — 0 shares (Direct);
Performance Stock Unit — 12,552 shares (Direct);
Common Stock — 14,023 shares (Direct)
Footnotes (1)
- Each Stock Unit represents a contingent right to receive one share of LCII Common Stock. These restricted stock units vest ratably each year on the first through third anniversaries of the grant date, which was March 1, 2023. These restricted stock units vest ratably each year on the first through third anniversaries of the grant date, which was March 1, 2024. These restricted stock units vest ratably each year on the first through third anniversaries of the grant date, which was March 1, 2025. These restricted stock units vest ratably each year on the first through third anniversaries of the grant date, which was March 1, 2026. These Performance Stock Units ("PSUs") represent the contingent right to receive shares of LCII Common Stock, if and to the extent certain Return on Invested Capital and Free Cash Flow performance goals are achieved by the end of 2028. Earned PSUs, if any, will vest on March 1, 2029. Represents the forfeiture of PSUs granted to the reporting person on March 1, 2023 that were eligible to vest based on certain financial performance objectives. Upon grant, the target vesting amount was reported in Table II of Form 4. On March 1, 2026, the Company determined that, based on the Company's performance over the applicable performance period, all PSUs under this grant would be forfeited.
FAQ
What equity transactions did LCII executive Ryan Richard Smith report?
Ryan Richard Smith reported exercises of restricted stock units into common shares, a tax-withholding share disposition, new restricted and performance stock unit grants, and the forfeiture of an earlier performance stock unit grant based on the company’s assessed financial performance outcomes.
How many LCII restricted stock units did Smith exercise into common stock?
Smith exercised 3,931, 3,722, and 4,069 restricted stock units at $133.20 each, receiving an equal number of common shares. These conversions reflect previously granted equity awards moving from contingent units into directly held LCII common stock.
What new stock-based awards did LCII grant to Ryan Richard Smith?
Smith received 8,368 new restricted stock units and 12,552 performance stock units. The restricted units vest in three equal annual installments, while the performance units may convert into shares only if specified return on invested capital and free cash flow targets are achieved by the end of 2028.
Why were some of Ryan Richard Smith’s LCII performance stock units forfeited?
A total of 23,575 performance stock units from a March 1, 2023 grant were forfeited. The company determined that, based on its performance over the applicable measurement period, none of those units satisfied the financial objectives required for vesting, so they were canceled.
How are Ryan Richard Smith’s new LCII performance stock units structured?
The 12,552 performance stock units give a contingent right to LCII common shares if return on invested capital and free cash flow goals are met by the end of 2028. Any earned performance units would vest on March 1, 2029, after the performance period concludes.
How do the new LCII restricted stock units for Smith vest over time?
Smith’s restricted stock units vest ratably over three years from their respective grant dates. Each year, one-third of the units from a given grant converts into common stock, assuming he continues to satisfy the award’s service-based vesting conditions.