Prudential Financial (NYSE: PFH) EVP gains shares as RSUs vest
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Prudential Financial Executive Vice President George P. Waldeck Jr. reported multiple equity award transactions. Restricted stock units from 2023, 2024, and 2025 grants vested and converted into common stock on a 1-to-1 basis, with 544, 558, and 550 shares withheld to pay taxes at $98.38 per share. After these transactions, he directly holds 69,833 common shares and indirectly holds 350 shares through a 401(k).
Positive
- None.
Negative
- None.
Insider Trade Summary
5,588 shares exercised/converted
Mixed
10 txns
Insider
Waldeck George P Jr.
Role
Executive Vice President
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | 2023 Restricted Stock Units | 1,768 | $0.00 | -- |
| Exercise | 2024 Restricted Stock Units | 1,924 | $0.00 | -- |
| Exercise | 2025 Restricted Stock Units | 1,896 | $0.00 | -- |
| Exercise | Common Stock | 1,768 | $0.00 | -- |
| Tax Withholding | Common Stock | 544 | $98.38 | $54K |
| Exercise | Common Stock | 1,924 | $0.00 | -- |
| Tax Withholding | Common Stock | 558 | $98.38 | $55K |
| Exercise | Common Stock | 1,896 | $0.00 | -- |
| Tax Withholding | Common Stock | 550 | $98.38 | $54K |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
2023 Restricted Stock Units — 0 shares (Direct);
2024 Restricted Stock Units — 1,925 shares (Direct);
2025 Restricted Stock Units — 3,792 shares (Direct);
Common Stock — 67,665 shares (Direct);
Common Stock — 350 shares (Indirect, By 401(k))
Footnotes (1)
- Represents the vesting of previously awarded restricted stock units. Represents shares withheld for the payment of taxes. The Restricted Stock Units convert to common stock on a 1 to 1 basis. The Restricted Stock Units will vest 1/3 per year beginning the last day of February 2024. The Restricted Stock Units will vest 1/3 per year beginning the last day of February 2025. The Restricted Stock Units will vest 1/3 per year beginning the last day of February 2026.
FAQ
What did the Prudential Financial (PFH) executive report in this Form 4?
The executive reported vesting of restricted stock units that converted into common stock on a 1-to-1 basis. Some shares were simultaneously withheld to cover tax obligations, leaving updated direct and indirect common stock holdings.
What do the tax withholding transactions at $98.38 mean for PFH stock?
Shares withheld at $98.38 per share represent payment of tax liabilities on vested equity awards, not open-market sales. These are administrative disposals where the company retains shares to satisfy the executive’s tax obligations on the stock compensation.
How do Prudential Financial (PFH) restricted stock units convert into common stock?
The restricted stock units convert into Prudential Financial common stock on a 1-to-1 basis. As units vest, an equal number of common shares is delivered, although some are typically withheld to cover associated income tax obligations for the executive.
What is the vesting schedule for the reported PFH restricted stock units?
The restricted stock units vest in three equal annual installments. For the relevant grants, vesting begins on the last day of February 2024, 2025, or 2026, with one-third of each award vesting on each anniversary date.
Is this Prudential Financial (PFH) Form 4 a buy or a sell by the executive?
The filing primarily reflects acquisition of shares through vesting and conversion of restricted stock units. It also shows share disposals solely for tax withholding, rather than discretionary open-market purchases or sales of Prudential Financial common stock.