RSU grant increases Legence (LGN) director Terrence Keenen’s share holdings
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Keenen Terrence reported acquisition or exercise transactions in this Form 4 filing.
Legence Corp. director Terrence Keenen received an award of 1,675 Restricted Stock Units, each convertible into one share of the company's Class A common stock at no cost upon vesting. The units will fully vest on the earlier of the first anniversary of the award date and the day immediately preceding Legence's 2027 annual stockholder meeting, subject to continued service. Following this grant, Keenen directly holds 15,960 shares of Class A common stock.
Positive
- None.
Negative
- None.
Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
Keenen Terrence
Role
null
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Class A Common Stock | 1,675 | $0.00 | -- |
Holdings After Transaction:
Class A Common Stock — 15,960 shares (Direct, null)
Footnotes (1)
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Key Figures
RSU award size: 1,675 units
Award price per unit: $0.00 per unit
Shares following transaction: 15,960 shares
+2 more
5 metrics
RSU award size
1,675 units
Restricted Stock Units granted to director Terrence Keenen
Award price per unit
$0.00 per unit
Equity compensation grant, not open-market purchase
Shares following transaction
15,960 shares
Class A common stock held directly after RSU award
Security type
Class A Common Stock
Underlying shares deliverable upon RSU vesting
Par value
$0.01 per share
Par value of Legence Class A common stock
Key Terms
Restricted Stock Units, Class A common stock, annual stockholder meeting
3 terms
Restricted Stock Units financial
"The reported securities represent an award of Restricted Stock Units, which each entitle the reporting person"
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.
Class A common stock financial
"to receive one share of Legence Corp.'s Class A common stock, par value $0.01 per share"
Class A common stock is a category of a company’s shares that carries a specific set of ownership rights—most commonly defined voting power and claims on dividends—set out in the company’s charter. For investors it matters because the class determines how much influence you have over corporate decisions, the share’s likely dividend and trading behavior, and how it compares in value to other share classes, like choosing a particular seat with different privileges at the company’s decision-making table.
annual stockholder meeting financial
"on the earlier of the first anniversary of the date of the award and the day immediately preceding the Issuer's 2027 annual stockholder meeting"
An annual stockholder meeting is a yearly gathering where a company's owners (shareholders) receive updates on performance, vote on key issues like board members, executive pay and major corporate plans, and ask questions of management. Think of it as a company town hall where choices about oversight and direction are decided; outcomes can affect management accountability, corporate strategy and ultimately the value and risks of investors’ shares.
FAQ
What did Legence Corp. (LGN) director Terrence Keenen receive in this Form 4?
Legence director Terrence Keenen received an award of 1,675 Restricted Stock Units. Each unit entitles him to one share of Class A common stock upon vesting, representing equity-based compensation rather than an open-market stock purchase.
When do Terrence Keenen’s Legence (LGN) Restricted Stock Units vest?
The Restricted Stock Units will fully vest on the earlier of the first anniversary of the award date and the day immediately preceding Legence Corp.’s 2027 annual stockholder meeting, subject to his continued service through that vesting date.
Is the Legence Corp. (LGN) transaction a stock purchase or a compensation grant?
The transaction is a compensation-related grant, not an open-market stock purchase. Terrence Keenen received 1,675 Restricted Stock Units at a stated price of $0.00 per unit, consistent with an equity award for board or service compensation.
What type of security did Terrence Keenen receive from Legence Corp. (LGN)?
He received Restricted Stock Units tied to Legence’s Class A common stock. Each unit converts into one share of Class A common stock, par value $0.01 per share, if the specified vesting conditions based on time and continued service are satisfied.