Noreen Clifford (MCI) updates direct shares and notional plan units in Form 4
Rhea-AI Filing Summary
BARINGS CORPORATE INVESTORS director and fund chairman Noreen M. Clifford reported updated holdings in a Form 4. The filing shows continued direct ownership of 20,000 Common Shares, described as Shares of Beneficial Interest. This entry is reported as a holding, not a new market transaction.
The report also lists activity in the Barings Non-Qualified Thrift Plan involving 6,856.0504 notional units tied to the value of the company’s common shares at a reference value of $18.0400. After this plan-related entry, the reporting person has 316,063.9162 such notional units. Footnotes explain this is part of a non-qualified compensation deferral plan and is entirely notional, with no actual ownership of underlying common shares.
Positive
- None.
Negative
- None.
Insider Trade Summary
2 transactions reported
Mixed
2 txns
Insider
NOREEN CLIFFORD M
Role
Chairman of Fund
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Other | Barings Non-Qualified Thrift Plan | 6,856.0504 | $18.04 | $124K |
| holding | Common Shares ("Shares of Beneficial Interest") | -- | -- | -- |
Holdings After Transaction:
Barings Non-Qualified Thrift Plan — 316,063.9162 shares (Direct);
Common Shares ("Shares of Beneficial Interest") — 20,000 shares (Direct)
Footnotes (2)
- F1. Exercisable only upon termination, retirement, or other plan permitted event. Plan holdings may be "liquidated" and reallocated into other plan investment options by the plan participant. The derivative has no actual securities underlying the plan agreement, which is entirely notional.
- F2. Barings LLC (fka Babson Capital Management LLC) and Massachusetts Mutual Life Insurance Company each offer a non-qualified compensation deferral plan where certain officers are permitted to defer a portion of their compensation into the plans. Deferred compensation into a plan is allocated among one or more investment options at the election of the plan participant. Each plan has an investment option that derives its value from the market value of Barings Corporate Investors' common shares (and includes the value of reinvested dividends). However, pursuant to the terms of the plans, neither the plans nor the participants have an actual ownership interest in the common shares. The shares beneficially owned include the number of shares of Barings Corporate Investors represented by the value of the Barings Corporate Investors investment option under the plan held by the plan participant.
Key Figures
Direct common shares held: 20,000 shares
Plan transaction units: 6,856.0504 units
Plan reference price: $18.0400 per unit
+2 more
5 metrics
Direct common shares held
20,000 shares
Common Shares (Shares of Beneficial Interest) holding after transaction
Plan transaction units
6,856.0504 units
Barings Non-Qualified Thrift Plan J-code derivative entry
Plan reference price
$18.0400 per unit
Reference price for Barings Non-Qualified Thrift Plan transaction
Total notional units after
316,063.9162 units
Barings Non-Qualified Thrift Plan balance after reported transaction
Restructuring shares equivalent
6,856.0504 units
Classified as restructuringShares in transaction summary
Key Terms
Barings Non-Qualified Thrift Plan, non-qualified compensation deferral plan, Shares of Beneficial Interest, deferred compensation
4 terms
Barings Non-Qualified Thrift Plan financial
"Barings Non-Qualified Thrift Plan involving 6,856.0504 notional units tied to the value"
non-qualified compensation deferral plan financial
"each offer a non-qualified compensation deferral plan where certain officers are permitted"
deferred compensation financial
"Deferred compensation into a plan is allocated among one or more investment options"
Deferred compensation is pay that employees or executives have earned now but will receive at a later date, such as delayed bonuses, retirement benefits, or stock grants. It matters to investors because it creates future obligations and shapes incentives—like a promise to pay later that can affect a company’s reported profits, cash needs and potential stock dilution—so it helps signal how a business manages costs and retains key people.
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What did Noreen M. Clifford report in the latest MCI Form 4 filing?
Noreen M. Clifford reported updated holdings, not open-market trades. She shows direct ownership of 20,000 Common Shares and notional units in a Barings Non-Qualified Thrift Plan tied to MCI’s share value as part of a compensation deferral arrangement.
What is the Barings Non-Qualified Thrift Plan referenced in the MCI Form 4?
The Barings Non-Qualified Thrift Plan is a compensation deferral arrangement. Certain officers defer pay into notional investment options, including one tied to Barings Corporate Investors’ common share value, but they and the plan hold no actual common shares under this structure.
How many notional units linked to MCI did Noreen Clifford report in the plan?
She reported 316,063.9162 notional units after the transaction. The Form 4 shows a J-code entry involving 6,856.0504 units at $18.0400 reference value, with the total representing deferred compensation value linked to Barings Corporate Investors’ shares.