Movado SVP granted 29.4 phantom stock units
Sussis Mitchell Cole reported acquisition or exercise transactions in this Form 4 filing.
Rhea-AI Filing Summary
Sussis Mitchell Cole reported acquisition or exercise transactions in this Form 4 filing.
MOVADO GROUP INC Senior VP and General Counsel Mitchell Cole Sussis received a routine grant of phantom stock units linked to the company’s common stock. The award covers 29.4 phantom stock units, each economically equivalent to one share of common stock.
Following this grant, Sussis holds a total of 1,611.07 phantom stock units. These units were granted under Movado’s Deferred Compensation Plan and will be distributed in equal annual installments over 10 years after the end of Sussis’s employment with the company, making this a long-term, non-cash compensation arrangement.
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Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Phantom Stock Unit | 29.4 | $0.00 | $0.00 |
Footnotes (2)
- F1. Each share of phantom stock is the economic equivalent of one share of Movado Group, Inc. common stock.
- F2. Phantom stock units acquired under issuer's Deferred Compensation Plan distributable in equal annual installments for 10 years following date of reporting person's termination of employment with issuer.
Key Figures
Key Terms
Phantom Stock Unit financial
Deferred Compensation Plan financial
Form 4 regulatory
FAQ
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What did MOV Senior VP Mitchell Cole Sussis report in this Form 4?
What is a phantom stock unit in the MOV Form 4 filing?
How many phantom stock units does the MOV executive hold after this grant?
When will the MOV phantom stock units be paid out to the executive?
Does MOVADO GROUP receive cash from this phantom stock grant?
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