Enpro Inc. (NPO) director gains phantom stock dividend equivalents in Form 4
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Enpro Inc. director William Abbey reported an acquisition of phantom stock units under the company’s Deferred Compensation Plan for Non-Employee Directors. He received 1.8246 phantom stock units as dividend equivalent rights tied to previously acquired phantom stock, bringing his total phantom stock balance to 1430.6446 units.
Each phantom stock unit represents a 1-for-1 economic interest in Enpro common stock but is payable in accordance with the plan. Vesting and payout occur on the earliest of death, disability, or the vesting and payout of the related underlying award.
Positive
- None.
Negative
- None.
Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
Abbey William
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Phantom Stock | 1.825 | $250.59 | $457.23 |
Holdings After Transaction:
Phantom Stock — 1,430.645 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 insider transaction did Enpro Inc. (NPO) report for William Abbey?
Enpro Inc. reported that director William Abbey acquired 1.8246 phantom stock units. These were granted as dividend equivalent rights under the Deferred Compensation Plan for Non-Employee Directors, increasing his total phantom stock holdings to 1430.6446 units after the transaction.
What is the nature of the phantom stock granted to Enpro (NPO) director William Abbey?
The grant to William Abbey consists of phantom stock units, each representing a 1-for-1 economic interest in Enpro common stock. These units are cash-settled or paid per plan terms, not traditional shares, and were awarded as dividend equivalent rights.
Why did William Abbey receive 1.8246 phantom stock units from Enpro Inc. (NPO)?
William Abbey received 1.8246 phantom stock units as dividend equivalent rights accruing on previously acquired phantom stock. These rights arise under Enpro’s Deferred Compensation Plan for Non-Employee Directors and mirror dividends paid on the company’s common stock for those deferred awards.
When do William Abbey’s Enpro (NPO) phantom stock and dividend equivalents vest and pay out?
Vesting and payout of William Abbey’s phantom stock and dividend equivalents occur on the earliest of death, disability, or the vesting and payout of the underlying related award. This timing is defined by Enpro’s Deferred Compensation Plan for Non-Employee Directors.
How large is William Abbey’s phantom stock position at Enpro Inc. (NPO) after this Form 4?
After the reported grant, William Abbey holds 1430.6446 phantom stock units. This balance reflects multiple phantom stock grants, accruals, and previously accrued dividend equivalents under Enpro’s Deferred Compensation Plan for Non-Employee Directors, as noted in the filing’s footnotes.