Enpro Inc. (NYSE: NPO) director gains additional phantom stock units
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Enpro Inc. director Ronald C. Keating reported an acquisition of 2.1968 units of phantom stock, credited as dividend equivalent rights under the company’s Deferred Compensation Plan for Non-Employee Directors. Following this accrual, his phantom stock balance stands at 4,189.5052 units tied to Enpro common stock.
Positive
- None.
Negative
- None.
Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
Keating Ronald C
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Phantom Stock | 2.197 | $250.59 | $550.50 |
Holdings After Transaction:
Phantom Stock — 4,189.505 shares (Direct)
Footnotes (1)
- 1-for-1 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. 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.
FAQ
What did Enpro Inc. (NPO) director Ronald C. Keating report on this Form 4?
Ronald C. Keating reported receiving 2.1968 units of phantom stock as dividend equivalent rights under Enpro’s non-employee director deferred compensation plan. This non-cash accrual increases his total phantom stock balance to 4,189.5052 units linked to Enpro common stock as of the transaction date.
What is the nature of the phantom stock transaction reported for Enpro Inc. (NPO)?
The transaction is a grant or award acquisition of phantom stock units, classified as a derivative security. These units represent deferred compensation for a director, mirroring Enpro common stock value, rather than a direct open-market share purchase or sale involving cash trading activity.
How many phantom stock units does Ronald C. Keating hold after this Enpro (NPO) Form 4 transaction?
After the reported dividend equivalent accrual, Ronald C. Keating holds 4,189.5052 phantom stock units. This balance includes multiple phantom stock grants, prior accruals, and previously credited dividend equivalents accumulated under Enpro’s Deferred Compensation Plan for Non-Employee Directors.
What triggered the 2.1968 phantom stock units reported for Enpro Inc. (NPO)?
The 2.1968 phantom stock units reflect dividend equivalent rights accruing on previously acquired phantom stock. Under Enpro’s non-employee director deferred compensation plan, dividends on the underlying common stock generate additional phantom units on a one-for-one basis, increasing the director’s deferred compensation position.
When do Enpro Inc. (NPO) phantom stock and dividend equivalent rights vest and pay out?
Vesting and payout of the phantom stock and related dividend equivalents occur on the earliest of death, disability, or the vesting and payout of the underlying related award. These conditions mean the reported units represent long-term, deferred compensation rather than immediately available common shares.