Enviri (NVRI) COO exercises equity awards and increases share holdings
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Enviri Corp President & COO Russell C. Hochman exercised equity awards and had shares withheld for taxes. He converted 25,955 stock appreciation rights into 15,833 shares of common stock, with 10,821 shares withheld to cover related tax obligations. He also converted 12,349 restricted stock units into 12,349 common shares, with 5,723 shares withheld for taxes. Following these compensation-related transactions, he directly holds 218,365 shares of common stock and 56,722 restricted stock units that remain subject to future vesting.
Positive
- None.
Negative
- None.
Insider Trade Summary
38,304 shares exercised/converted
Mixed
6 txns
Insider
Hochman Russell C.
Role
President & COO
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Stock Appreciation Rights | 25,955 | $0.00 | -- |
| Exercise | Common Stock | 15,833 | $7.00 | $111K |
| Tax Withholding | Common Stock | 10,821 | $17.95 | $194K |
| Exercise | Restricted Stock Units | 12,349 | $0.00 | -- |
| Exercise | Common Stock | 12,349 | $0.00 | -- |
| Tax Withholding | Common Stock | 5,723 | $17.65 | $101K |
Holdings After Transaction:
Stock Appreciation Rights — 0 shares (Direct);
Common Stock — 229,186 shares (Direct);
Restricted Stock Units — 56,722 shares (Direct)
Footnotes (1)
- The reporting person received 15,833 shares of common stock upon the net exercise of 25,955 stock appreciation rights ("SARs"). A total of 10,821 shares of common stock underlying such SARs were withheld to satisfy the withholding tax obligation resulting from the exercise. Restricted stock units granted under the 2013 Equity and Incentive Compensation Plan represent a contingent right to receive Enviri common stock on a one-for-one basis when the restricted stock units vest. The restricted stock units vest in one-third increments on each of the first three anniversaries of the date of the grant. The stock appreciation rights vested in one-third increments on each of the first three anniversaries of the date of the grant.
FAQ
What did Enviri (NVRI) President & COO Russell Hochman report in this Form 4?
Russell Hochman reported exercises of stock appreciation rights and restricted stock units, receiving common shares and having some withheld for taxes. These were compensation-related equity transactions, not open-market stock purchases or sales, and increased his direct common stock holdings at Enviri.
How do the Enviri restricted stock units reported by Russell Hochman vest?
The restricted stock units were granted under Enviri’s 2013 Equity and Incentive Compensation Plan and vest in one-third increments on each of the first three anniversaries of the grant date. Upon vesting, each unit converts into one share of Enviri common stock.
How do Enviri stock appreciation rights work in Russell Hochman’s Form 4?
The stock appreciation rights entitled Hochman to receive Enviri common stock equal to the appreciation over a $7.00 base price. They vested in one-third increments on each of the first three anniversaries of the grant, and their exercise generated shares, some of which were withheld for taxes.