Dividend reinvestment boosts PHINIA (NYSE: PHIN) CFO shareholdings
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
PHINIA INC. Senior Vice President and CFO Chris P. Gropp acquired additional common stock through automatic dividend reinvestment on existing restricted stock awards. He received 143 shares of restricted stock at no cash cost, bringing his direct holdings to 63,910 shares, which include 30,196 shares of restricted stock.
A related account held by his spouse acquired 9 shares, increasing that indirect position to 3,967 shares, including 1,800 shares of restricted stock. Gropp disclaims beneficial ownership of the spouse’s shares, and these transactions reflect routine, compensation-related equity accrual rather than open-market trading.
Positive
- None.
Negative
- None.
Insider Trade Summary
2 transactions reported
Mixed
2 txns
Insider
Gropp Chris P
Role
Senior Vice President and CFO
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock | 143 | $0.00 | -- |
| Grant/Award | Common Stock | 9 | $0.00 | -- |
Holdings After Transaction:
Common Stock — 63,910 shares (Direct);
Common Stock — 3,967 shares (Indirect, By spouse)
Footnotes (1)
- Reflects shares of restricted stock acquired following the automatic reinvestment of dividends on outstanding restricted stock held on the dividend record date, as required by the terms of such awards. Includes 30,196 shares of restricted stock. Includes 1,800 shares of restricted stock. The reporting person disclaims beneficial ownership of these securities, and the filing of this report shall not be deemed an admission that the reporting person is the beneficial owner of the securities for purposes of Section 16 or for any other purpose.
FAQ
What insider transactions did PHIN (PHINIA INC.) report for Chris P. Gropp?
PHINIA reported that CFO Chris P. Gropp acquired common stock through automatic dividend reinvestment on existing restricted stock. He received 143 restricted shares directly and 9 additional shares were acquired in an account held by his spouse.
Was the PHIN insider transaction an open-market buy or a stock grant?
The PHIN insider transaction was a grant-type acquisition via automatic dividend reinvestment on restricted stock, not an open-market purchase. Both reported entries use transaction code “A” for grants or awards, with a transaction price per share of zero.
What does automatic dividend reinvestment mean for PHIN restricted stock awards?
Automatic dividend reinvestment means cash dividends on restricted stock are used to acquire more restricted shares instead of being paid in cash. For PHIN, this process generated the 143 direct restricted shares and 9 spouse-held shares reported in the Form 4.