Omega Flex (OFLX) extends CEO phantom stock award terms to 2030
Filing Impact
Filing Sentiment
Form Type
4/A
Rhea-AI Filing Summary
Omega Flex, Inc. reported that Chief Executive Officer and director Rivest Dean W. acquired 2,461 units of phantom stock, each economically equivalent to one share of Omega Flex common stock. The units were granted at a stated price of $0.00 per unit as compensation.
The filing also records amendments to this phantom stock award, changing both the date exercisable and the expiration date from 02/18/2026 to 02/18/2030. After this grant, the CEO held 2,461 phantom stock units directly.
Positive
- None.
Negative
- None.
Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
Rivest Dean W.
Role
Chief Executive Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Phantom Stock | 2,461 | $0.00 | -- |
Holdings After Transaction:
Phantom Stock — 2,461 shares (Direct)
Footnotes (1)
- Each unit of phantom stock is the economic equivalent of one share of the Issuer's common stock. Amendment to change Date Exercisable from 02/18/2026 to 02/18/2030. Amendment to change Expiration Date from 02/18/2026 to 02/18/2030.
FAQ
What insider transaction did Omega Flex (OFLX) report for its CEO?
Omega Flex reported that CEO Rivest Dean W. acquired 2,461 units of phantom stock as a grant. Each unit is economically equivalent to one share of Omega Flex common stock, increasing his directly held phantom stock balance to 2,461 units after the transaction.
What is the phantom stock granted to the Omega Flex (OFLX) CEO?
The CEO received 2,461 units of phantom stock, each equal in economic value to one Omega Flex common share. Phantom stock typically tracks the value of the underlying shares, providing cash or share-based compensation without issuing actual stock at the grant date.
Were there changes to the vesting or expiration of the Omega Flex (OFLX) phantom stock award?
Yes. The award’s date exercisable was amended from 02/18/2026 to 02/18/2030. The expiration date was also changed from 02/18/2026 to 02/18/2030, extending the period during which the CEO can benefit from this phantom stock grant under the revised terms.
Did the Omega Flex (OFLX) CEO pay cash for the phantom stock units?
No cash was paid for the grant; the transaction price per phantom stock unit was reported as $0.0000. This indicates the 2,461 units were issued as a compensation award rather than purchased in an open-market or privately negotiated cash transaction.
How many phantom stock units does the Omega Flex (OFLX) CEO hold after the grant?
Following this transaction, the CEO directly holds 2,461 phantom stock units. This total matches the number of units granted in the filing, indicating the award established his current phantom stock position at that level as of the reported transaction date.
What does each Omega Flex (OFLX) phantom stock unit represent economically?
Each phantom stock unit is described as the economic equivalent of one share of Omega Flex common stock. This means the unit’s value is tied to the company’s common stock, providing compensation exposure similar to share ownership without issuing actual shares at grant.