LCI Industries (LCII) CFO receives new stock unit grants, forfeits PSUs
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
LCI Industries EVP and CFO Lillian Etzkorn reported multiple equity award changes. She exercised 1,351 and 1,624 restricted stock units into common shares at $133.20 per share and 903 common shares were disposed of to cover tax obligations.
She received 3,342 new restricted stock units that vest in three equal annual installments starting from the March 1, 2026 grant date, plus 5,063 performance stock units that may vest in 2029 based on Return on Invested Capital and Free Cash Flow goals through 2028. A prior 4,265-unit performance stock grant from April 17, 2023 was fully forfeited after the company assessed performance.
Positive
- None.
Negative
- None.
Insider Trade Summary
2,975 shares exercised/converted
Mixed
11 txns
Insider
Etzkorn Lillian
Role
EVP, CFO
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Unit | 1,351 | $133.20 | $180K |
| Exercise | Restricted Stock Unit | 1,624 | $133.20 | $216K |
| Grant/Award | Restricted Stock Unit | 3,342 | $0.00 | -- |
| Grant/Award | Performance Stock Unit | 5,063 | $0.00 | -- |
| Disposition | Performance Stock Unit | 4,265 | $0.00 | -- |
| Exercise | Common Stock | 1,351 | $133.20 | $180K |
| Exercise | Common Stock | 1,624 | $133.20 | $216K |
| Tax Withholding | Common Stock | 903 | $0.00 | -- |
| holding | Restricted Stock Unit | -- | -- | -- |
| holding | Performance Stock Unit | -- | -- | -- |
| holding | Performance Stock Unit | -- | -- | -- |
Holdings After Transaction:
Restricted Stock Unit — 1,353 shares (Direct);
Performance Stock Unit — 5,063 shares (Direct);
Common Stock — 3,769 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 April 17, 2023. Includes 37 stock unit(s) received as a result of regular cash dividends paid on reported payment date(s) June 13, 2025, September 12, 2025, and December 12, 2025 to holders of registrant's common stock on the related reported record date(s). In accordance with the registrant's 2018 Omnibus Incentive Plan for underlying units granted under that plan, holders of stock units on the reported dividend record date(s) received additional dividend equivalent stock unit(s) subject to the same terms and conditions as the underlying stock units held on the reported record date(s). Includes 45 stock unit(s) received as a result of regular cash dividends paid on reported payment date(s) June 13, 2025, September 12, 2025, and December 12, 2025 to holders of registrant's common stock on the related reported record date(s). In accordance with the registrant's 2018 Omnibus Incentive Plan for underlying units granted under that plan, holders of stock units on the reported dividend record date(s) received additional dividend equivalent stock unit(s) subject to the same terms and conditions as the underlying stock units held on the reported record date(s). These restricted stock units vest ratably each year on the first through third anniversaries of the grant date, which was March 1, 2024. Includes 54 stock unit(s) received as a result of regular cash dividends paid on reported payment date(s) June 13, 2025, September 12, 2025, and December 12, 2025 to holders of registrant's common stock on the related reported record date(s). In accordance with the registrant's 2018 Omnibus Incentive Plan for underlying units granted under that plan, holders of stock units on the reported dividend record date(s) received additional dividend equivalent stock unit(s) subject to the same terms and conditions as the underlying stock units held on the reported record date(s). These restricted stock units vest ratably each year on the first through third anniversaries fo the grant date, which was March 1, 2025 Includes 108 stock unit(s) received as a result of regular cash dividends paid on reported payment date(s) June 13, 2025, September 12, 2025, and December 12, 2025 to holders of registrant's common stock on the related reported record date(s). In accordance with the registrant's 2018 Omnibus Incentive Plan for underlying units granted under that plan, holders of stock units on the reported dividend record date(s) received additional dividend equivalent stock unit(s) subject to the same terms and conditions as the underlying stock units held on the reported record date(s). These restricted stock units vest ratably each year on the first through third anniversaries of the grant date, which was March 1, 2026. Includes 202 stock unit(s) received as a result of regular cash dividends paid on reported payment date(s) June 13, 2025, September 12, 2025, and December 12, 2025 to holders of registrant's common stock on the related reported record date(s). In accordance with the registrant's 2018 Omnibus Incentive Plan for underlying units granted under that plan, holders of stock units on the reported dividend record date(s) received additional dividend equivalent stock unit(s) subject to the same terms and conditions as the underlying stock units held on the reported record date(s). Includes 245 stock unit(s) received as a result of regular cash dividends paid on reported payment date(s) June 13, 2025, September 12, 2025, and December 12, 2025 to holders of registrant's common stock on the related reported record date(s). In accordance with the registrant's 2018 Omnibus Incentive Plan for underlying units granted under that plan, holders of stock units on the reported dividend record date(s) received additional dividend equivalent stock unit(s) subject to the same terms and conditions as the underlying stock units held on the reported record date(s). 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 April 17, 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. Includes 142 stock unit(s) received as a result of regular cash dividends paid on reported payment date(s) June 13, 2025, September 12, 2025, and December 12, 2025 to holders of registrant's common stock on the related reported record date(s). In accordance with the registrant's 2018 Omnibus Incentive Plan for underlying units granted under that plan, holders of stock units on the reported dividend record date(s) received additional dividend equivalent stock unit(s) subject to the same terms and conditions as the underlying stock units held on the reported record date(s).
FAQ
What insider transactions did LCI Industries (LCII) CFO Lillian Etzkorn report?
Lillian Etzkorn reported exercises of restricted stock units into common stock, new grants of restricted and performance stock units, and a tax-related share disposition. The filing also records forfeiture of an earlier performance stock unit award after the company evaluated its financial performance objectives.
How many LCI Industries (LCII) restricted stock units did the CFO exercise and at what price?
The CFO exercised 1,351 and 1,624 restricted stock units into common stock at $133.20 per share. These transactions converted derivative awards into directly held shares, increasing her common stock ownership while reflecting the vesting and settlement of prior long-term incentive grants.
What new stock unit awards did the LCI Industries (LCII) CFO receive on March 1, 2026?
On March 1, 2026, the CFO received 3,342 restricted stock units and 5,063 performance stock units. The restricted units vest ratably over three years, while the performance units may vest in 2029 if specific Return on Invested Capital and Free Cash Flow goals are achieved through 2028.
How do LCI Industries (LCII) performance stock units for the CFO vest?
The performance stock units represent a contingent right to receive common shares if Return on Invested Capital and Free Cash Flow targets are met by the end of 2028. Any earned units from this grant will vest on March 1, 2029, linking the award directly to multi-year company performance.
What happened to the LCI Industries (LCII) performance stock units granted in April 2023 to the CFO?
All 4,265 performance stock units granted on April 17, 2023 were forfeited. The company determined on March 1, 2026 that its performance over the applicable period did not satisfy the financial objectives required for vesting, so none of those units became earned or payable.
How are dividend equivalents reflected in the CFO’s LCI Industries (LCII) stock units?
Several stock unit holdings include additional units credited as dividend equivalents from cash dividends paid on June 13, 2025, September 12, 2025, and December 12, 2025. These added units carry the same terms and conditions as the underlying grants to which they relate.