Comstock Inc. (LODE) CFO receives major RSU and PSU equity awards
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Merrill Judd reported acquisition or exercise transactions in this Form 4 filing.
Comstock Inc. reported that Chief Financial Officer Merrill Judd received new equity-based compensation awards. He was granted 121,597 Restricted Stock Units, each representing a contingent right to one share of common stock, and 304,449 Performance Stock Units, each tied to one share of common stock.
The RSUs vest in three equal installments on June 30, 2027, June 30, 2028 and June 30, 2029, subject to continued employment and certain limited exceptions. The PSUs may vest based on specified stock price appreciation targets over a three-year long-term incentive program and continued employment through June 30, 2029. Following these awards, Judd also reports direct ownership of 4,210 common shares.
Positive
- None.
Negative
- None.
Insider Trade Summary
3 transactions reported
Mixed
3 txns
Insider
Merrill Judd
Role
Chief Financial Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Performance Stock Units | 304,449 | $0.00 | -- |
| Grant/Award | Restricted Stock Units | 121,597 | $0.00 | -- |
| holding | Common stock | -- | -- | -- |
Holdings After Transaction:
Performance Stock Units — 304,449 shares (Direct, null);
Restricted Stock Units — 121,597 shares (Direct, null);
Common stock — 4,210 shares (Direct, null)
Footnotes (1)
- Each Performance Stock Unit ("PSU") converts to one share of Common Stock, subject to achievement of performance objectives based on the achievement of targets tied to specified stock price appreciation over a three-year long-term incentive program. Each Restricted Stock Unit ("RSU") represents a contingent right to receive one share of Issuer common stock with one-third of the grant subject to vesting at on each of June 30, 2027, June 30, 2028 and June 30, 2029, respectively, as long as the employee is employed at the vesting date subject to certain limited exceptions set out in the award agreement. The PSUs are only eligible for vesting based on both the achievement of specified stock price performance targets established by the Compensation Committee over the next three anniversaries of the program and the participants continued employment at June 30, 2029. The RSUs are forfeited only if the employee in not employed by the Company prior to the annual vesting dates noted above subject to certain limited exceptions set out in the award agreement.
Key Figures
Restricted Stock Units granted: 121,597 units
Performance Stock Units granted: 304,449 units
Common shares held: 4,210 shares
+3 more
6 metrics
Restricted Stock Units granted
121,597 units
Each RSU represents one share of common stock
Performance Stock Units granted
304,449 units
Each PSU represents one share of common stock
Common shares held
4,210 shares
Direct common stock ownership after reported transactions
RSU vesting dates
June 30, 2027/2028/2029
One-third of RSU grant vests on each date, subject to employment
PSU employment requirement date
June 30, 2029
Continued employment required for PSU vesting eligibility
PSU performance period length
Three years
Long-term incentive program based on stock price appreciation
Key Terms
Restricted Stock Unit, Performance Stock Unit, long-term incentive program, stock price appreciation, +1 more
5 terms
Restricted Stock Unit financial
"Each Restricted Stock Unit ("RSU") represents a contingent right to receive one share of Issuer common stock"
A restricted stock unit is a promise from a company to give an employee shares of stock after certain conditions are met, like staying with the company for a set amount of time. It’s like earning a bonus that turns into company stock once you’ve proven your commitment, making it a way to motivate and reward employees.
Performance Stock Unit financial
"Each Performance Stock Unit ("PSU") converts to one share of Common Stock, subject to achievement of performance objectives"
A performance stock unit is a type of reward companies give to employees, usually managers, that depends on how well the company performs over time. If the company hits specific goals, the employee earns shares of stock, like earning a prize for reaching certain levels in a game. It motivates employees to work hard because their rewards are tied to the company's success.
long-term incentive program financial
"targets tied to specified stock price appreciation over a three-year long-term incentive program"
A long-term incentive program is a company plan that pays executives or employees rewards—often stock, options, or cash—only if the business hits performance goals over several years. It matters to investors because these payouts align managers’ interests with shareholders, encouraging decisions that boost sustained growth and share value rather than short-term gains; think of it as a multi-year bonus tied to measurable company outcomes.
stock price appreciation financial
"based on the achievement of targets tied to specified stock price appreciation over a three-year long-term incentive program"
vesting financial
"one-third of the grant subject to vesting at on each of June 30, 2027, June 30, 2028 and June 30, 2029"
Vesting is the process by which you earn full ownership of something, like company stock or a retirement benefit, over time. It’s like earning the right to keep a gift piece by piece the longer you stay with a company, making sure employees stay committed before they receive all the benefits.
FAQ
What equity awards did Comstock Inc. (LODE) grant to its CFO?
Comstock Inc. granted CFO Merrill Judd 121,597 Restricted Stock Units and 304,449 Performance Stock Units. Each unit is linked to one share of common stock, forming part of his long-term incentive compensation package tied to service and, for PSUs, stock price performance.
How do the new Performance Stock Units for Comstock (LODE) CFO work?
Each Performance Stock Unit converts into one share of common stock if performance objectives are met. The targets are based on specified stock price appreciation over a three-year incentive program and require continued employment through June 30, 2029 for eligibility to vest.
When do Merrill Judd’s new Comstock (LODE) RSUs vest?
The Restricted Stock Units vest in three equal installments on June 30, 2027, June 30, 2028 and June 30, 2029. Vesting is conditioned on his continued employment, subject to limited exceptions described in the applicable award agreement.
What are the conditions for vesting of Comstock (LODE) Performance Stock Units?
The PSUs require both achievement of specified stock price performance targets over the program’s three anniversaries and continued employment at June 30, 2029. Without meeting these stock price objectives and service requirements, the Performance Stock Units do not become shares.
Are Comstock (LODE) RSUs forfeited if the CFO leaves before vesting?
The RSUs are forfeited if the employee is not employed by the company before the annual vesting dates. The award agreement provides certain limited exceptions, but generally continued employment through each vesting date is required to receive the related common shares.