NETSTREIT (NTST) CEO converts RSUs to stock and withholds shares for tax
Rhea-AI Filing Summary
NETSTREIT Corp. President and CEO Mark Manheimer reported routine equity compensation activity involving restricted stock units (RSUs) and common stock. He exercised or converted RSUs into 11,762 and 23,081 shares of common stock at a price of $0.00 per share.
To cover mandatory tax withholding upon the RSU vesting, 4,713 and 9,250 shares of common stock were withheld at $20.20 per share, described as a tax-withholding disposition rather than an open market sale. Following these transactions, he directly held 337,258 shares of common stock.
Footnotes explain that each RSU represents a right to receive one share upon vesting and that the RSUs were granted on February 16, 2024 under NETSTREIT’s Alignment of Interest Program and Omnibus Incentive Plan, vesting in three annual installments subject to continued service.
Positive
- None.
Negative
- None.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units | 11,762 | $0.00 | -- |
| Exercise | Restricted Stock Units | 23,081 | $0.00 | -- |
| Exercise | Common Stock | 11,762 | $0.00 | -- |
| Tax Withholding | Common Stock | 4,713 | $20.20 | $95K |
| Exercise | Common Stock | 23,081 | $0.00 | -- |
| Tax Withholding | Common Stock | 9,250 | $20.20 | $187K |
Footnotes (1)
- Each restricted stock unit ("RSU") represents a contingent right to receive one share of common stock upon vesting. Shares withheld by the issuer to satisfy the mandatory tax withholding requirement upon vesting of RSUs previously granted to the reporting person. This is not an open market sale of securities. On February 16, 2024, the reporting person was granted 35,287 RSUs in lieu of cash compensation pursuant to the Issuer's Alignment of Interest Program. The RSUs vest in substantially equal installments on each of the first three anniversaries of the grant date, generally subject to continued service as an officer through each applicable vesting date. On February 16, 2024, the reporting person was granted 69,244 RSUs pursuant to the Issuer's Amended and Restated 2019 Omnibus Incentive Compensation Plan, vesting in substantially equal installments on each of the first three anniversaries of the grant date, generally subject to continued service as an officer through each applicable vesting date.
