NPO Form 4: Director Botts Reports Dividend-Equivalent Accruals at $217.89
Rhea-AI Filing Summary
Thomas M. Botts, a director of EnPro Industries, Inc. (NPO), acquired dividend-equivalent shares tied to phantom stock awards on 09/17/2025. The Form 4 reports two accruals: 21.0000 and 4.2155 shares of common stock, each recorded at a price of $217.89 per share. After these reported accruals, the reported direct beneficial ownership balances are 17,866.9285 and 17,871.144 shares respectively, which reflect multiple phantom stock grants and previously accrued dividend equivalents.
The filings state these dividend equivalents arose under the Amended and Restated 2002 Equity Compensation Plan and the Deferred Compensation Plan for Non-Employee Directors, and vest or pay out upon death, disability, or vesting/payout of the related underlying awards. The Form 4 is signed by an attorney-in-fact on behalf of Mr. Botts on 09/18/2025.
Positive
- Director increased direct beneficial ownership through accrued dividend-equivalent phantom stock (21.0000 and 4.2155 shares).
- Accruals recorded under established plans (Amended and Restated 2002 Equity Compensation Plan and Deferred Compensation Plan for Non-Employee Directors).
Negative
- None.
Insights
TL;DR: Routine director compensation accruals increased reported direct holdings modestly; no governance red flags disclosed.
The Form 4 documents standard dividend equivalent accruals tied to phantom stock plans for a sitting director. These entries are described as being part of long-standing plans and vest upon common, ordinary triggers (death, disability, or vesting/payout of underlying awards). The filing shows direct beneficial ownership and an attorney-in-fact signature, indicating administrative processing rather than an immediate market transaction. There is no indication of unusual timing, related-party transactions beyond standard director plans, or material dilution events in the filing.
TL;DR: Dividend-equivalent accruals converted to common shares increase director holdings by small amounts under existing plans.
The entries show two accruals (21.0000 and 4.2155 shares) recorded at $217.89 per share and tied to the company’s equity compensation and deferred director plans. The filing explicitly notes balances include multiple grants and accrued dividends, implying these are incremental adjustments to previously recorded phantom stock balances rather than new cash-funded purchases. Such accruals are a typical element of non-employee director pay structures and have limited immediate cash or dilution impact as reported here.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Phantom Stock | 21 | $217.89 | $5K |
| Grant/Award | Phantom Stock | 4.216 | $217.89 | $918.52 |
Footnotes (1)
- 1-for-1 Dividend equivalent rights accrued to previously granted phantom stock awards under the Amended and Restated 2002 Equity Compensation Plan of EnPro Industries, Inc. Vesting and payout occurs on the earliest of death, disability or the vesting and payout of the underlying award with respect to which the dividend equivalents relate. Balance includes multiple phantom stock grants, phantom stock accruals and previously accrued dividend equivalents. Dividend equivalent rights accrued to previously acquired phantom stock under the Deferred Compensation Plan for Non-Employee Directors (as amended and restated) of EnPro Industries, Inc.
