Deferred pay grants Quanex (NYSE: NX) director new phantom stock units
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Quanex Building Products director William E. Jr. Waltz acquired 1,205.780 Phantom Stock Units as a grant under the company’s Deferred Compensation Plan, reflecting deferred director compensation. Each unit is the economic equivalent of one share of common stock and is payable in cash at a future date or upon death, disability, or termination of service as a director.
Following this award, Waltz holds a total of 21,785.861 Phantom Stock Units, which includes 106.499 units credited through automatic dividend reinvestment under the plan.
Positive
- None.
Negative
- None.
Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
Waltz William E Jr.
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Phantom Stock Units | 1,205.78 | $20.85 | $25K |
Holdings After Transaction:
Phantom Stock Units — 21,785.861 shares (Direct)
Footnotes (1)
- Units credited to the participant's account under the Deferred Compensation Plan as a result of deferral of Director Compensation. Each Phantom Stock Unit is the economic equivalent of one share of common stock. Distributions under the Deferred Compensation Plan are made in cash beginning on a specified date selected by the participant or upon the participant's death, disability, or termination of service as a director. Includes 106.499 phantom stock units credited to the participant's account as a result of automatic dividend reinvestment.
FAQ
What did Quanex (NX) director William E. Jr. Waltz report on this Form 4?
William E. Jr. Waltz reported acquiring 1,205.780 Phantom Stock Units under Quanex’s Deferred Compensation Plan. These units represent deferred director compensation and increase his total phantom unit balance to 21,785.861 units after the transaction.
What are Phantom Stock Units in Quanex (NX)'s director compensation plan?
Quanex’s Phantom Stock Units are bookkeeping entries whose value equals one share of common stock. They track director compensation on a deferred basis, with future cash payments instead of actual share delivery, based on the number of units credited to the participant’s account.
How and when are Quanex (NX) Phantom Stock Units paid to the director?
Distributions of Quanex’s Phantom Stock Units are made in cash. Payments begin on a specified date chosen by the participant or upon the participant’s death, disability, or termination of service as a director, according to the Deferred Compensation Plan’s terms.
Why did Quanex (NX) credit additional Phantom Stock Units to the director’s account?
The filing notes that 106.499 Phantom Stock Units in the director’s total were credited through automatic dividend reinvestment. This means cash dividends that would have been paid are instead reinvested as additional phantom units in the participant’s account.
How many total Quanex (NX) Phantom Stock Units does the director hold after this transaction?
After this grant, William E. Jr. Waltz holds 21,785.861 Phantom Stock Units. This total includes the newly credited 1,205.780 units from deferred director compensation and 106.499 units credited via the plan’s automatic dividend reinvestment feature.