New York Times (NYT) director receives 92 dividend-equivalent RSUs as added equity
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
The New York Times Company director Rachel C. Glaser received additional equity compensation in the form of dividend-equivalent restricted stock units. On this award date, she acquired 92 shares of Class A Common Stock at no cost, reflecting RSUs granted in connection with cash dividends on existing RSUs.
Following this grant, Glaser directly holds 33,501 shares of Class A Common Stock. Dividend equivalent RSUs tied to vested RSUs are fully vested immediately, while those tied to unvested RSUs will vest on the same date the underlying RSUs vest, which is the company’s first annual meeting following the initial grant.
Positive
- None.
Negative
- None.
Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
Glaser Rachel C
Role
null
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Class A Common Stock | 92 | $0.00 | -- |
Holdings After Transaction:
Class A Common Stock — 33,501 shares (Direct, null)
Footnotes (1)
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Key Figures
RSUs granted: 92 shares
Shares held after grant: 33,501 shares
Grant price: $0.00 per share
3 metrics
RSUs granted
92 shares
Dividend-equivalent RSUs on Class A Common Stock
Shares held after grant
33,501 shares
Direct Class A Common Stock holdings following transaction
Grant price
$0.00 per share
Compensation grant, not an open-market purchase
Key Terms
Restricted Stock Units ("RSUs"), Dividend Equivalent RSUs, 2020 Incentive Compensation Plan
3 terms
Restricted Stock Units ("RSUs") financial
"Restricted Stock Units ("RSUs") acquired in respect of previously reported RSUs"
Restricted stock units (RSUs) are a company promise to give an employee shares of stock (or cash equivalent) in the future, but only after certain conditions—usually staying with the company for a set time or hitting performance goals—are met. Investors watch RSUs because when they vest they increase the number of shares outstanding and can lead insiders to sell shares, affecting share price, company dilution and the true cost of employee pay.
Dividend Equivalent RSUs financial
"cash dividends paid on The New York Times Company's Class A Common Stock ("Dividend Equivalent RSUs")"
2020 Incentive Compensation Plan financial
"RSUs awarded under The New York Times Company 2020 Incentive Compensation Plan"
FAQ
What did New York Times (NYT) director Rachel C. Glaser report on this Form 4?
Rachel C. Glaser reported an acquisition of 92 shares of Class A Common Stock as equity compensation. These shares arose from dividend-equivalent RSUs linked to previously awarded RSUs under the 2020 Incentive Compensation Plan, and were received at no cash cost.
Was the New York Times (NYT) Form 4 transaction an open-market purchase or a compensation grant?
The transaction was a compensation-related grant, not an open-market purchase. Glaser acquired 92 shares at a reported price of $0.00 per share, representing dividend-equivalent RSUs issued in respect of cash dividends on previously granted restricted stock units.
What are dividend-equivalent RSUs in the New York Times (NYT) filing?
Dividend-equivalent RSUs are restricted stock units granted with a value equal to cash dividends paid on Class A Common Stock. They are issued in respect of previously reported RSUs, effectively crediting additional RSUs instead of cash when dividends are paid on outstanding shares.
How do vesting terms work for the dividend-equivalent RSUs in the NYT Form 4?
Dividend-equivalent RSUs tied to vested RSUs are fully vested when granted. Those tied to unvested RSUs will vest when the underlying unvested RSUs vest, which occurs on the date of the company’s first annual meeting following the initial RSU grant, according to the disclosure.
Under which plan were the New York Times (NYT) dividend-equivalent RSUs granted to Rachel C. Glaser?
The dividend-equivalent RSUs were granted under The New York Times Company 2020 Incentive Compensation Plan. They arise in respect of previously reported RSUs when cash dividends are paid on the company’s Class A Common Stock, providing additional stock-based compensation.