Quanta Services (PWR) CEO logs stock awards, tax withholding in Form 4
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Quanta Services President and CEO Earl C. Austin Jr. reported equity compensation-related transactions in common stock. He acquired 81,834 shares from the vesting of earned performance stock units and an additional 8,320 shares of restricted stock units, both at no cash price, under the company’s equity incentive plan.
To cover taxes associated with the vesting of performance stock units, 32,202 shares were disposed of at $562.77 per share through a tax-withholding transaction, not an open-market sale. Following these transactions, he held 707,102 shares directly and 20,000 shares indirectly through the Austin 1999 Family Trust.
Positive
- None.
Negative
- None.
Insider Trade Summary
4 transactions reported
Mixed
4 txns
Insider
Austin Earl C. Jr.
Role
President and CEO
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock | 81,834 | $0.00 | -- |
| Tax Withholding | Common Stock | 32,202 | $562.77 | $18.12M |
| Grant/Award | Common Stock | 8,320 | $0.00 | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Common Stock — 739,304 shares (Direct);
Common Stock — 20,000 shares (Indirect, By Austin 1999 Family Trust)
Footnotes (1)
- These shares represent the acquisition of common stock resulting from the vesting of earned performance stock units issued under an equity incentive plan of the Company. These shares were withheld to cover taxes associated with the vest of performance stock units issued under an equity incentive plan of the Company. These shares represent restricted stock units that may be settled solely by the issuance of an equal number of shares of common stock of the Company and remain subject to vesting based on the passage of time and continued employment.
FAQ
What insider stock transactions did Quanta Services (PWR) CEO report?
The CEO reported equity compensation activity, including grants and tax withholding. He received 81,834 shares from vesting performance stock units and 8,320 restricted stock units, and 32,202 shares were withheld to cover taxes, all under Quanta’s equity incentive plan.
What types of equity awards did the Quanta Services (PWR) CEO receive?
He received common shares from vesting performance stock units and new restricted stock units. 81,834 shares came from earned performance stock units, and 8,320 shares represent restricted stock units that settle in common stock subject to time-based vesting conditions.
How were taxes handled on the Quanta Services (PWR) CEO’s equity vesting?
Taxes on the vesting of performance stock units were settled through share withholding. The filing states 32,202 shares of common stock were withheld to cover associated tax liabilities instead of paying those taxes in cash.