Leggett & Platt (NYSE: LEG) CFO gets 42,253 RSUs with tax shares withheld
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Leggett & Platt Executive Vice President and CFO Benjamin Michael Burns received an equity award of 42,253 restricted stock units, which, according to the footnote, generally vest in one-third increments on the first, second and third anniversaries of the grant date and are settled in common stock on a one-to-one basis. To cover taxes, 1,931 shares of common stock were disposed of at $11.83 per share through share withholding, rather than an open-market sale. After these transactions, he directly holds about 187,744.7633 common shares, with additional small indirect holdings through the company retirement plan and his spouse.
Positive
- None.
Negative
- None.
Insider Trade Summary
5 transactions reported
Mixed
5 txns
Insider
BURNS BENJAMIN MICHAEL
Role
Executive Vice President - CFO
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock | 42,253 | $0.00 | -- |
| Tax Withholding | Common Stock | 1,931 | $11.83 | $23K |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Common Stock — 189,675.763 shares (Direct);
Common Stock — 31.442 shares (Indirect, Held In Trust Under Issuer's Retirement Plan)
Footnotes (1)
- [object Object]
FAQ
What did LEG CFO Benjamin Michael Burns report in this Form 4?
Benjamin Michael Burns reported receiving 42,253 restricted stock units and a related tax-withholding share disposition. The award vests in three annual installments and is settled in common stock, increasing his long-term equity alignment with Leggett & Platt shareholders.
How do the new LEG restricted stock units vest for the CFO?
The restricted stock units generally vest in one-third increments on the first, second and third anniversaries of the grant date. On each vesting date, the units convert into Leggett & Platt common shares on a one-to-one basis, subject to continued service conditions.