Enpro Inc. (NYSE: NPO) director adds phantom stock units via dividend equivalents
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Enpro Inc. director David L. Hauser reported two compensation-related acquisitions of phantom stock units tied 1-for-1 to common stock. On these transactions, he received 38.0000 and 10.9673 phantom stock units as dividend equivalent rights accruing on previously granted awards under company plans.
Following these grants, his reported balance is 38421.2395 phantom stock units. According to the plan terms, these units vest and pay out on the earliest of death, disability, or the vesting and payout of the related underlying awards, and the balance reflects multiple prior grants and accrued dividend equivalents.
Positive
- None.
Negative
- None.
Insider Trade Summary
2 transactions reported
Mixed
2 txns
Insider
HAUSER DAVID L
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Phantom Stock | 38 | $250.59 | $10K |
| Grant/Award | Phantom Stock | 10.967 | $250.59 | $3K |
Holdings After Transaction:
Phantom Stock — 38,410.272 shares (Direct)
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.
FAQ
What did Enpro Inc. (NPO) director David Hauser report in this Form 4?
David L. Hauser reported acquiring phantom stock units as compensation. The filing shows two grants, 38.0000 and 10.9673 units, credited as dividend equivalent rights on previously granted phantom stock awards under Enpro’s equity and deferred compensation plans.
How many phantom stock units does David Hauser hold after this Enpro (NPO) filing?
After these transactions, David Hauser’s reported balance is 38421.2395 phantom stock units. This total includes multiple prior phantom stock grants, additional phantom stock accruals, and previously accrued dividend equivalents earned under Enpro’s long-standing director compensation arrangements.
Are the Enpro (NPO) phantom stock units in this Form 4 tied to common stock?
Yes. The phantom stock units are described as 1-for-1 with Enpro common stock. They are derivative rights that track the value of common shares but settle in accordance with plan terms rather than being regular open-market common share purchases.
What triggers vesting and payout of David Hauser’s Enpro (NPO) phantom stock units?
Vesting and payout occur on the earliest of death, disability, or the vesting and payout of the related underlying award. These conditions apply to the dividend equivalent rights credited on previously granted phantom stock under Enpro’s compensation plans for non-employee directors.
What are dividend equivalent rights in Enpro (NPO) phantom stock awards?
Dividend equivalent rights credit additional phantom stock units reflecting dividends on the underlying awards. In this case, they accrued to previously granted phantom stock under Enpro’s equity compensation and deferred compensation plans, increasing David Hauser’s overall phantom stock balance without open-market trading.