Gibraltar Industries (ROCK) VP reports stock grant and tax withholding
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Gibraltar Industries VP and Treasurer Jeffrey J. Watorek reported routine equity compensation and related tax withholding transactions. On March 2, he acquired 1,307 shares of common stock at $0.00 per share as a grant or award, increasing his directly held common stock to 19,655 shares.
On March 3, 117 common shares were disposed of at $43.83 per share to cover tax liabilities, leaving 19,538 directly held shares. Footnotes explain these are restricted stock units issued under the company’s 2018 equity plan, vesting in four annual portions starting March 2, 2027, with performance stock units to be reported later.
Positive
- None.
Negative
- None.
Insider Trade Summary
4 transactions reported
Mixed
4 txns
Insider
Watorek Jeffrey J.
Role
VP and Treasurer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Tax Withholding | Common Stock | 117 | $43.83 | $5K |
| Grant/Award | Common Stock | 1,307 | $0.00 | -- |
| holding | Restricted Stock Unit (2018 MSPP Match) | -- | -- | -- |
| holding | Common Stock (401k) | -- | -- | -- |
Holdings After Transaction:
Common Stock — 19,538 shares (Direct);
Restricted Stock Unit (2018 MSPP Match) — 1,406.97 shares (Direct);
Common Stock (401k) — 333.905 shares (Indirect, 401k)
Footnotes (1)
- The shares represent Restricted Stock Units issued under the Registrant's Amended and Restated 2018 Equity Incentive Plan that have been granted to the Reporting Person. The shares vest in four portions: 25% on March 2, 2027, and on each March 2 thereafter through March 2, 2030. The Reporting Person was also granted Performance Stock Units, which will be reported on a subsequent Form 4 upon satisfaction of the performance criteria. Represents matching restricted stock units allocated to the Reporting Person with respect to the Reporting Person's deferral of a portion of their annual base salary and annual cash incentive compensation pursuant to the Company's 2018 Management Stock Purchase Plan. Restricted stock units are forfeited if Reporting Person's service as an officer of the Company is terminated prior to the fifth (5th) anniversary of the Reporting Person's vesting commencement date. If service as an officer continues beyond the fifth (5th) anniversary of the Reporting Person's vesting commencement date, restricted stock units are payable solely in cash in one lump sum payment or in five (5) or ten (10) consecutive, substantially equal annual installments, whichever distribution form is elected by the Reporting Person, beginning six (6) months following termination of service. Each restricted stock unit is converted to cash in an amount equal to the fair market value of one share of the Company's common stock, as defined in the Company's 2018 Management Stock Purchase Plan, on the date of termination of the Reporting Person's service as an officer of the Company.
FAQ
What insider transactions did ROCK executive Jeffrey Watorek report on this Form 4?
Jeffrey Watorek reported a stock award of 1,307 Gibraltar Industries common shares on March 2 and a 117-share tax-withholding disposition on March 3. Both transactions involve equity compensation rather than open-market buying or selling.
Was the Form 4 transaction for ROCK an open-market stock sale by the executive?
No, the 117-share disposition at $43.83 per share was for tax withholding, not an open-market sale. It settled tax obligations linked to an equity award, a common feature of stock-based compensation programs.
What are the key vesting terms of the ROCK restricted stock units granted to Watorek?
The restricted stock units vest in four parts: 25% on March 2, 2027, and 25% on each March 2 through 2030. Units may be forfeited if his officer service ends before the fifth anniversary of his vesting commencement date.
How will Jeffrey Watorek’s ROCK restricted stock units be settled when he leaves the company?
If his officer service extends beyond five years, the restricted stock units are payable solely in cash, either in a lump sum or over five or ten annual installments, based on the fair market value of one ROCK share at termination.
Does this ROCK Form 4 include performance stock units for Jeffrey Watorek?
The Form 4 notes that performance stock units were also granted under the 2018 equity plan, but these will be reported on a subsequent Form 4 once the specified performance criteria have been satisfied.