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Lear Corporation Form 4 Filings

LEA NYSE

Every Form 4 that Lear Corporation (LEA) has filed with the SEC in the last 12 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.

A Form 4 covers the transactions officers, directors and large holders report, so if you follow LEA and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full LEA filings page.

Rhea-AI Summary

Lear Corp (LEA) director Kathleen Ligocki converted the twenty-eighth quarterly installment of deferred stock units into 53 shares of common stock on October 1, 2026, pursuant to her deferral election. Following the conversion, her reported direct holdings were 18,357 deferred stock units and 3,996 common shares. The units accrued under the Lear Corporation Outside Directors Compensation Plan.

Rhea-AI Summary

LEAR CORP (LEA) SVP and President, E-Systems Nicholas Jon Roelli acquired 12,326 restricted stock units on September 23, 2026. Each unit is convertible into one share of common stock, and the units will vest and settle in common stock on December 31, 2028. The reported post-grant position was 12,326 restricted stock units; no Rule 10b5-1 plan is reported.

Rhea-AI Summary

Lear Corp director Conrad L. Mallett Jr. sold 1,646 shares of Common Stock on August 6, 2026 at $121.35 per share, described as a sale in an open market or private transaction. After this trade, he directly held 37 shares.

The filing’s Rule 10b5-1 checkbox is unchecked, indicating the transaction was not made under a Rule 10b5-1 trading plan.

Rhea-AI Summary

LEAR CORP director Kathleen Ligocki reported a routine equity compensation transaction involving deferred stock units. She converted 53 deferred stock units accrued under the Lear Corporation Outside Directors Compensation Plan into 53 shares of Lear common stock pursuant to a prior deferral election.

Each deferred stock unit is equal in value to one share of Lear common stock. After this conversion, Ligocki directly holds 3,943 shares of common stock and 18,410 deferred stock units, reflecting continued equity-based compensation rather than an open-market purchase or sale.

Rhea-AI Summary

LEAR CORP President and CEO Raymond E. Scott sold 50,000 shares of common stock in open-market transactions. The sales occurred on June 24, 2026 in four blocks at weighted-average prices between about $134.44 and $137.21 per share. All transactions were direct sales of common stock, and footnotes explain that each reported price reflects a weighted average for multiple trades within specified price ranges. One transaction line shows that Scott held 49,789 shares of common stock directly following that sale, indicating he retains a meaningful equity position.

Rhea-AI Summary

LEAR CORP director Conrad L. Mallett Jr. reported an open-market sale of 190 shares of Lear common stock at $141.34 per share. After this transaction, he directly holds 1,683 shares of the company’s common stock, according to the Form 4 filing.

Rhea-AI Summary

LEAR CORP executive Frank C. Orsini, EVP and President, Seating, sold 5,000 shares of Common Stock in an open-market transaction at $148.50 per share. After this sale, he directly owns 11,795 Lear shares.

Rhea-AI Summary

Lear Corp SVP and CFO Jason M. Cardew sold 9,500 shares of common stock in open-market transactions under a pre-arranged Rule 10b5-1 trading plan. On June 1, 2026, he sold 4,500 shares at prices of $141.14 per share. On June 2, 2026, he sold 5,000 shares at prices of $145.00 and $150.00 per share. After these sales, Cardew directly holds 13,241 Lear shares. The filing notes that the trading plan was adopted on March 2, 2026 and became effective after the required cooling-off period, with Cardew exercising no discretion over the timing of these trades.

Rhea-AI Summary

LEAR CORP senior vice president and President of E-Systems, Nicholas Jon Roelli, reported an open-market sale of company stock. On May 22, 2026, he sold 2,336 shares of Lear common stock at an average price of $141.375 per share.

Following this transaction, Roelli directly holds 2,339 Lear shares. The filing shows no related option exercises or derivative positions, indicating this was a straightforward common-stock sale rather than part of a larger options transaction.

Rhea-AI Summary

Lear Corporation director Bradley M. Halverson increased his equity stake through routine equity compensation activity. On May 14, 2026, previously granted restricted stock units vested and were converted into 1,859 shares of common stock, leaving him with 8,171 common shares held directly.

On the same date, he received a new grant of 1,330 restricted stock units under the Lear Corporation 2019 Long Term Stock Incentive Plan. These units convert into common stock on a 1-for-1 basis and are scheduled to vest and settle on the earlier of the first anniversary of the grant date or the next annual stockholders’ meeting.

Rhea-AI Summary

LEAR CORP director Julian G. Blissett reported routine equity compensation activity involving restricted stock units and common shares. On May 14, 2026, 1,859 restricted stock units vested and were exercised into 1,859 shares of common stock, consistent with their 1-for-1 conversion terms.

To cover tax withholding obligations, 637 of these common shares were withheld by the company at a price of $139.01 per share, leaving Blissett with 1,670 common shares held directly after the transactions. He also received a new grant of 1,330 restricted stock units under the Lear Corporation 2019 Long Term Stock Incentive Plan, which will vest and settle in common stock on the earlier of the first anniversary of the grant date or the next annual stockholders’ meeting.

Rhea-AI Summary

LEAR CORP director Conrad L. Mallett Jr. reported routine equity compensation activity. On May 14, 2026, restricted stock units vested and were converted into 1,767 shares of Common Stock, increasing his direct Common Stock holdings to 1,873 shares.

The vested shares came from 1,859 restricted stock units granted on May 16, 2025, with 92 units deferred under the Lear Corporation Outside Directors Plan until the earlier of his retirement as a director, a change in control of Lear, or February 20, 2027. On the same date, he also received a new grant of 1,330 restricted stock units under the Lear Corporation 2019 Long Term Stock Incentive Plan, each convertible into Common Stock on a 1-for-1 basis and scheduled to vest and settle in stock on the earlier of the first anniversary of the grant date or the next annual meeting of stockholders.

Rhea-AI Summary

Lear Corporation director Roger A. Krone reported routine equity compensation activity. On May 14, 2026, restricted stock units vested and were converted into 1,859 shares of common stock, increasing his direct common stock holdings to 4,039 shares.

On the same date, he received a new grant of 1,330 restricted stock units under the Lear Corporation 2019 Long Term Stock Incentive Plan. Each restricted stock unit converts into one share of common stock and will vest and settle on the earlier of the first anniversary of the grant date or the next annual meeting of stockholders following the grant date.

Rhea-AI Summary

LEAR CORP director Greg C. Smith reported routine equity compensation activity. On May 14, 2026, 3,134 restricted stock units vested and were converted into 3,134 shares of common stock, increasing his direct holdings to 5,389 common shares.

On the same date, he received a new grant of 2,194 restricted stock units under the Lear Corporation 2019 Long Term Stock Incentive Plan, each convertible into common stock on a 1-for-1 basis and scheduled to vest on the earlier of the first anniversary of the grant date or the next annual stockholder meeting. Separately, 13,891 common shares are held by the Ann Cournoyer Smith Irrevocable Trust for the benefit of his children; he serves as trustee and disclaims beneficial ownership of those trust shares.

Rhea-AI Summary

LEAR CORP director Mary Lou Jepsen reported equity compensation changes involving restricted stock units (RSUs). On May 14, 2026, previously granted RSUs vested and were exercised into 1,859 shares of Common Stock, increasing her direct stock holdings to 12,970.869 shares.

On the same date, she received a new grant of 1,330 RSUs under the Lear Corporation 2019 Long Term Stock Incentive Plan. Each RSU is convertible into one share of common stock and will vest and settle on the earlier of the first anniversary of the grant or the next annual stockholders’ meeting.

Rhea-AI Summary

Lear Corporation director Patricia L. Lewis reported routine equity compensation activity. On May 14, 2026, previously granted restricted stock units covering 1,859 shares vested and were converted into the same number of shares of common stock. On the same date, she received a new grant of 1,330 restricted stock units under the Lear Corporation 2019 Long Term Stock Incentive Plan, each unit convertible into one share of common stock. Following these transactions, she holds 7,386 shares of common stock directly, plus 1,330 restricted stock units that will vest on the earlier of the first anniversary of the grant or the next annual stockholders’ meeting.

Rhea-AI Summary

Lear Corp director Jonathan F. Foster reported compensation-related equity activity, with no open-market buying or selling. On May 14, 2026, 1,859 restricted stock units vested and were converted into 1,859 shares of common stock, increasing his direct holdings to 15,641 shares.

On the same date, Foster also received a new grant of 1,330 restricted stock units under the Lear Corporation 2019 Long Term Stock Incentive Plan. Each restricted stock unit is convertible into common stock on a 1-for-1 basis and will vest and settle in common stock on the earlier of the first anniversary of the grant date or the next annual meeting of stockholders following the grant date.

Rhea-AI Summary

Lache Rod reported acquisition or exercise transactions in this Form 4 filing.

LEAR CORP director Rod Lache received a grant of 1,330 restricted stock units. These units were awarded on May 14, 2026 under the Lear Corporation 2019 Long Term Stock Incentive Plan and are convertible into common stock on a 1-for-1 basis.

The restricted stock units vest on the earlier of the first anniversary of the grant date or the next annual meeting of stockholders following the grant date. Settlement of the units has been deferred under the Lear Corporation Outside Directors Compensation Plan until the earlier of Mr. Lache’s retirement as a director, a change in control of Lear Corporation, or February 20, 2029.

Rhea-AI Summary

LEAR CORP director Kathleen Ligocki received a grant of 1,330 restricted stock units (RSUs) on May 14, 2026. These RSUs convert into an equal number of common shares on a 1-for-1 basis. The award was granted under the Lear Corporation 2019 Long-Term Stock Incentive Plan.

The RSUs vest on the earlier of the first anniversary of the grant date or the next annual stockholders’ meeting after the grant. Settlement of the RSUs has been deferred, under the Outside Directors Compensation Plan, until Ms. Ligocki retires from the board or there is a change in control of Lear.

Rhea-AI Summary

LEAR CORP director Kathleen Ligocki exercised deferred stock units into common shares under the company’s Outside Directors Compensation Plan. On the reported date, 53 deferred stock units converted into 53 shares of Lear common stock, reflecting the twenty-sixth quarterly installment of her prior deferral election.

Each deferred stock unit is equal in value to one share of Lear common stock. Following these transactions, she directly holds 16,604 deferred stock units and 3,890 shares of Lear common stock, showing a routine, compensation-related increase in her direct equity position rather than an open-market trade.

Rhea-AI Summary

LEAR CORP director Conrad L. Mallett Jr. reported an open-market sale of 44 shares of common stock on March 13, 2026 at an average price of $116.12 per share. After this transaction, he directly owns 106 shares of Lear Corp common stock.

Rhea-AI Summary

Lear Corp executive Frank C. Orsini, EVP and President, Seating, sold 7,133 shares of common stock in an open-market transaction on 2026-02-26 at an average price of $135.50 per share. After this sale, he directly holds 16,795 Lear common shares.

Rhea-AI Summary

LEAR CORP vice president sells shares

LEAR CORP executive Marianne Vidershain, who serves as VP, Treasurer and Head of Investor Relations, reported an open-market sale of 1,590 shares of LEAR CORP common stock at a price of $135.00 per share. After this transaction, she directly owns 1,862 common shares.

Rhea-AI Summary

LEAR CORP director Conrad L. Mallett Jr. exercised a derivative award, converting 66 Deferred Stock Units into 66 shares of common stock on February 20, 2026 at a stated price of $0.00 per share. These units were accrued under Lear’s Outside Directors Compensation Plan pursuant to his prior deferral election.

Rhea-AI Summary

LEAR CORP director Roger A. Krone reported equity compensation activity involving deferred stock units. On 2026-02-20, he converted 264 deferred stock units into an equal number of common shares at a stated price of $0.0000 per share, pursuant to his deferral election under the Lear Corporation Outside Directors Compensation Plan. Following these transactions, he directly holds 2,180 common shares and 3,347 deferred stock units.

Rhea-AI Summary

LEAR CORP senior executive sells shares in open market

Alicia J. Davis, SVP and Chief Strategy Officer of Lear Corp, reported an open-market sale of 6,630 shares of common stock on February 19, 2026 at a weighted average price of $132.979 per share.

The shares were sold in multiple transactions at prices ranging from $132.70 to $133.205. After these sales, Davis directly holds 9,972 shares of Lear common stock.

Rhea-AI Summary

Lear Corporation SVP and CFO Jason M. Cardew reported selling 10,000 shares of common stock in open-market transactions on February 19, 2026. The sales occurred in three trades at prices including $134.372, $135.180, and $135.285 per share, leaving him with 22,741 directly owned shares.

Rhea-AI Summary

Lear Corp senior vice president and chief administrative officer Harry Albert Kemp reported an open-market sale of 7,000 shares of common stock on 2026-02-19 at an average price of $136.31 per share. After this transaction, he directly owns 17,423 shares of Lear common stock.

Rhea-AI Summary

Lear Corporation executive Frank C. Orsini reported selling 8,354 shares of common stock in an open‑market transaction. The sale took place on February 19, 2026 at a weighted average price of $136.144 per share, with individual trade prices ranging from $135.505 to $136.47. After this transaction, Orsini directly owns 23,928 shares of Lear common stock.

Rhea-AI Summary

Lear Corporation executive Harry Albert Kemp reported equity award activity. On February 12, 2026, he acquired 12,110 shares of common stock at $0 per share from settlement of performance shares under Lear’s long-term incentive plan. On the same date, 5,281 shares were withheld at $136.73 per share to cover tax obligations. After these transactions, Kemp directly owned 24,423 Lear common shares.

Rhea-AI Summary

Lear Corporation senior vice president and CFO Jason M. Cardew reported equity award activity involving the company’s common stock. On February 12, 2026, he acquired 23,067 shares of common stock at $0 per share as a grant described as the settlement of non-derivative performance shares for a three-year performance period under Lear’s long‑term stock incentive plan.

On the same date, 10,058 shares were disposed of at $136.73 per share, with the filing explaining these shares were withheld by Lear to satisfy tax withholding requirements related to the award. After these transactions, Cardew directly beneficially owned 32,741 shares of Lear common stock.

Rhea-AI Summary

Lear Corporation’s President and CEO Scott Raymond reported equity compensation activity. On February 12, 2026, he acquired 85,707 shares of common stock at $0 through settlement of performance shares under the 2019 Long-Term Stock Incentive Plan. The company simultaneously withheld 37,369 shares at $136.73 per share to cover tax obligations. After these transactions, Raymond directly owned 99,789 shares of Lear common stock.

Rhea-AI Summary

Lear Corporation executive Frank C. Orsini, EVP and President, Seating, reported equity compensation activity in company common stock. On February 12, 2026, he acquired 23,067 shares at $0 as settlement of performance shares for a three-year period ending December 31, 2025, under Lear’s long-term stock incentive plan. On the same day, 10,058 shares were disposed of at $136.73 per share, with the shares withheld by the company to cover tax withholding obligations. After these transactions, Orsini directly owned 32,282 shares of Lear common stock.

Rhea-AI Summary

Lear Corporation executive Alicia J. Davis, SVP and Chief Strategy Officer, reported equity compensation activity in company common stock. On February 12, 2026, she acquired 9,328 shares at $0 in connection with the settlement of performance shares for a three-year performance period ending December 31, 2025, under Lear’s 2019 Long-Term Stock Incentive Plan.

On the same date, 4,068 shares were disposed of at $136.73 per share, with the shares withheld by the company to satisfy tax withholding requirements. After these transactions, she directly beneficially owned 16,602 shares of Lear common stock.

Rhea-AI Summary

Lear Corporation executive Nicholas Jon Roelli reported equity compensation activity. On February 12, 2026, he acquired 3,655 shares of Lear common stock at $0 per share from the settlement of performance shares granted under the company’s long-term stock incentive plan.

On the same date, 1,594 shares were disposed of at $136.73 per share, with the shares withheld by Lear to cover tax withholding obligations. After these transactions, Roelli directly beneficially owned 4,675 shares of Lear common stock.

Rhea-AI Summary

Lear Corporation executive Marianne Vidershain, VP, Treasurer and Head of Investor Relations, reported two stock transactions dated February 12, 2026. She acquired 3,054 shares of common stock at $0 as settlement of performance shares earned under Lear’s long-term incentive plan.

On the same date, 1,332 shares were disposed of at $136.73 per share, with the shares withheld by the company to cover tax obligations related to the award. After these transactions, she directly owned 3,452 shares of Lear common stock.

Rhea-AI Summary

Lear Corporation officer equity activity: A senior vice president and President, E-Systems of LEAR CORP reported multiple equity transactions. On January 2, 2026, the officer received 5,648 restricted stock units, each convertible into one share of common stock, with one-third vesting on January 4, 2027, one-third on January 4, 2028 and the remaining one-third on January 4, 2029.

On January 4, 2026, previously granted restricted stock units vested and were settled in common stock, resulting in acquisitions of 427 and 423 shares at an exercise price of $0, and company share withholdings of 209 and 207 shares at $118.61 per share to satisfy tax obligations. After these transactions, the officer directly owned 2,614 shares of Lear common stock and held 5,648 restricted stock units and 423 remaining restricted stock units from an earlier grant.

Rhea-AI Summary

Lear Corp executive reports new RSU grant and share vesting activity. The company’s SVP and Chief Strategy Officer filed details of equity awards and related stock movements. On January 2, 2026, the executive received 4,889 restricted stock units, each convertible into one share of common stock, with one-third vesting on January 4, 2027, one-third on January 4, 2028, and the remaining one-third on January 4, 2029.

On January 4, 2026, 1,092 shares and 970 shares of common stock were issued upon vesting of prior RSU grants. To cover tax withholding, the company retained 534 shares and 447 shares at a price of $118.61 per share. After these transactions, the executive directly held 11,342 shares of Lear common stock and 4,889 RSUs.

Rhea-AI Summary

Lear Corp’s SVP and CFO reported equity awards and share transactions. On January 2, 2026, the executive received 11,870 restricted stock units (RSUs), each convertible into one share of common stock, with one-third vesting on January 4, 2027, one-third on January 4, 2028, and the final third on January 4, 2029.

On January 4, 2026, 8,103 RSUs from a January 3, 2023 grant vested and were converted into common stock at an exercise price of $0. To cover tax withholding, 3,615 shares were withheld by the company at a price of $118.61 per share. Following these transactions, the officer directly owned 19,732 shares of Lear Corp common stock.

Rhea-AI Summary

LEAR Corp executive Jacqlyn Waite reported equity compensation and related share movements. As EVP and President, Seating, she received 12,899 restricted stock units on January 2, 2026, each convertible into one share of common stock, with one-third vesting on January 4, 2027, one-third on January 4, 2028, and the final third on January 4, 2029.

Previously granted restricted stock units from January 3, 2023 fully vested on January 4, 2026, resulting in the acquisition of 8,103 shares of common stock at a stated price of $0. On the same date, 3,615 shares were withheld by the company at $118.61 per share to satisfy tax withholding requirements. After these transactions, Waite directly beneficially owned 19,273 shares of common stock and 12,899 restricted stock units.

Rhea-AI Summary

Lear Corporation executive Jacqlyn Waite reported equity compensation activity and a new award of restricted stock units. As Senior Vice President & Chief Administrative Officer of Lear Corp (LEA), she received 7,102 restricted stock units on January 2, 2026, each convertible into one share of common stock. These units are scheduled to vest in three equal installments on January 4, 2027, January 4, 2028, and January 4, 2029.

On January 4, 2026, a prior grant of restricted stock units from January 3, 2023 vested in full and was settled in 4,254 shares of common stock at an exercise price of $0. To cover tax withholding, 1,937 shares were withheld by the company at a price of $118.61 per share. After these transactions, Waite directly owned 17,594 shares of Lear common stock.

Rhea-AI Summary

LEAR Corp executive Jacqlyn Waite reported equity compensation activity and related share withholding. On January 2, 2026, she received a grant of 1,800 restricted stock units (RSUs), each convertible into one share of common stock, with one-third scheduled to vest on January 4 in each of 2027, 2028 and 2029. On January 4, 2026, previously granted RSUs from 2023, 2024 and 2025 vested and were settled in common stock, resulting in multiple acquisitions of shares at a stated price of $0 per share and corresponding tax-withholding transactions at $118.61 per share. After the reported transactions, Waite directly held a modest number of LEAR common shares, reflecting routine executive compensation and tax withholding mechanics rather than open-market buying or selling.

Rhea-AI Summary

Lear Corp's President and CEO, who is also a director, reported equity award activity involving company common stock. On January 4, 2026, 22,701 shares of common stock were acquired at $0 per share through the vesting and settlement of previously granted restricted stock units. On the same date, 9,979 shares were withheld by the company at a price of $118.61 per share to satisfy tax withholding obligations, leaving the reporting person with 51,451 shares of common stock held directly.

In addition, on January 2, 2026, the reporting person received a new grant of 36,383 restricted stock units, each convertible into one share of common stock. One-third of these units vest on January 4, 2027, one-third on January 4, 2028, and the remaining one-third on January 4, 2029. A prior restricted stock unit grant from January 3, 2023 fully vested on January 4, 2026, resulting in the 22,701-share acquisition at $0 per share noted above.

Rhea-AI Summary

Lear Corp VP & Chief Accounting Officer Jacqlyn Waite reported equity award activity and related share movements in early 2026. On January 2, 2026, she received 1,841 restricted stock units, each convertible into one share of common stock, with one-third vesting on January 4, 2027, one-third on January 4, 2028 and the remainder on January 4, 2029.

On January 4, 2026, multiple previously granted restricted stock unit awards vested and were settled in common stock at an exercise price of $0. On the same date, Lear withheld shares at a price of $118.61 per share to cover tax withholding obligations, rather than requiring a cash payment. After these grants, vestings and withholdings, Waite directly held 2,539 shares of Lear common stock.

Rhea-AI Summary

Lear Corporation director equity report: A company director converted 53 deferred stock units into 53 shares of Lear Corporation common stock on 01/01/2026 at a stated price of $0 per share. These units were part of the Lear Corporation Outside Directors Compensation Plan and were converted according to the director’s prior deferral election.

Following this transaction, the director directly owns 3,837 shares of Lear common stock and continues to hold 16,657 deferred stock units, each equal in value to one share of Lear common stock. The transaction reflects routine settlement of director compensation rather than an open‑market trade.

Rhea-AI Summary

Lear Corp's senior vice president and chief financial officer reported selling 5,000 shares of Lear common stock on 12/18/2025. The sale was reported at a weighted average price of $118.169 per share.

After this transaction, the officer directly beneficially owns 15,244 shares of Lear common stock. The filing notes that the reported price reflects multiple trades between $117.73 and $118.66 per share, and detailed trade information will be provided upon request.

Rhea-AI Summary

LEAR CORP (LEA) reported an equity award to one of its officers on a Form 4. The reporting person, who serves as VP, Treasurer and Head of Investor Relations, received 973 restricted stock units on 11/19/2025.

Each restricted stock unit represents the right to receive one share of Lear common stock. These are designated as “Career Share” RSUs, which vest on the third anniversary of the grant date. However, they are not converted into common shares until or after the officer reaches age 62 or experiences a qualifying retirement, and they may be forfeited if the officer leaves voluntarily before meeting retirement eligibility requirements.

Rhea-AI Summary

Lear Corporation reported an equity award to its President and CEO, who also serves as a director. On 11/19/2025, the executive acquired 8,275 restricted stock units (RSUs), each convertible into one share of Lear common stock. These are designated as “Career Share” RSUs.

The Career Share RSUs vest on the third anniversary of the grant date, but they are not converted into common shares until or after the executive reaches age 62 or experiences a qualifying retirement. The units remain subject to forfeiture if the executive voluntarily leaves the company before meeting retirement eligibility requirements. The RSUs are reported as derivative securities with a price of $0 and are held directly by the reporting person.

Rhea-AI Summary

Lear Corporation (LEA) filed a Form 4 reporting an equity grant to a senior executive. The reporting person, an officer serving as SVP & Chief Administrative Officer, received 2,434 restricted stock units (RSUs) on 11/19/2025.

Each RSU is convertible into one share of Lear common stock on a 1-for-1 basis. These specific "Career Share" RSUs vest on the third anniversary of the grant date but are not converted into common shares until or after the holder reaches age 62 or experiences a qualifying retirement. The units remain subject to forfeiture if there is a voluntary termination before meeting retirement eligibility requirements.

Rhea-AI Summary

Lear Corporation executive SVP and President, E-Systems reported an equity grant on a Form 4. On 11/19/2025, the officer acquired 1,947 restricted stock units (RSUs) labeled as "Career Share" RSUs. Each RSU is convertible into one share of Lear common stock.

These Career Share RSUs vest on the third anniversary of the grant date but are not converted into common shares until or after age 62 or a qualifying retirement. They remain subject to forfeiture if the executive voluntarily leaves before meeting retirement eligibility requirements. Following this grant, the RSUs are held as a direct ownership position.