Gibraltar VP & CFO receives 2018 plan RSUs
Lovechio Joseph A reported acquisition or exercise transactions in this Form 4 filing.
Rhea-AI Filing Summary
Lovechio Joseph A reported acquisition or exercise transactions in this Form 4 filing.
Gibraltar Industries VP and CFO Joseph A. Lovechio received a grant of 284.72 restricted stock units on the company’s 2018 Management Stock Purchase Plan as a matching award for deferring portions of salary and cash incentive pay. Following this grant, he holds 2,063.06 restricted stock units and 12,390 shares of common stock directly.
The footnotes explain these restricted stock units are forfeited if his officer service ends before the fifth anniversary of his vesting start date. If service continues beyond that date, the units are settled solely in cash, paid in one lump sum or over five or ten annual installments based on the stock’s fair market value after his officer service ends.
Positive
- None.
Negative
- None.
Insider Trade Summary
Grant/Award: 284.72 shares
Grant/Award
2 txns
Insider
Lovechio Joseph A
Role
VP and CFO
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Restricted Stock Unit (2018 MSPP Match) | 284.72 | $0.00 | $0.00 |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Restricted Stock Unit (2018 MSPP Match) — 2,063.06 contracts (Direct);
Common Stock — 12,390 shares (Direct)
Footnotes (3)
- F1. 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.
- F2. 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.
- F3. 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 pursuant to the Company's 2018 Management Stock Purchase Plan.
Key Figures
RSU grant: 284.72 restricted stock units
Total RSUs after grant: 2,063.06 restricted stock units
Common stock holdings: 12,390 shares
+3 more
6 metrics
RSU grant
284.72 restricted stock units
Matching award under 2018 Management Stock Purchase Plan
Total RSUs after grant
2,063.06 restricted stock units
Held by VP and CFO after the reported award
Common stock holdings
12,390 shares
Direct Gibraltar Industries common stock owned after transaction
Forfeiture period
5 years
Service as officer must continue beyond fifth vesting anniversary
Installment options
5 or 10 years
Optional equal annual cash installments after service ends
Payout delay
6 months
Cash payments begin six months after termination of officer service
Key Terms
Restricted Stock Unit, 2018 Management Stock Purchase Plan, deferral of a portion of their annual base salary, annual cash incentive compensation, +1 more
5 terms
Restricted Stock Unit financial
"Represents matching restricted stock units allocated to the Reporting Person"
A restricted stock unit is a promise from a company to give an employee shares of stock after certain conditions are met, like staying with the company for a set amount of time. It’s like earning a bonus that turns into company stock once you’ve proven your commitment, making it a way to motivate and reward employees.
2018 Management Stock Purchase Plan financial
"pursuant to the Company's 2018 Management Stock Purchase Plan"
deferral of a portion of their annual base salary financial
"with respect to the Reporting Person's deferral of a portion of their annual base salary"
annual cash incentive compensation financial
"deferral of a portion of their annual base salary and annual cash incentive compensation"
fair market value financial
"equal to the fair market value of one share of the Company's common stock"
The price a willing buyer and a willing seller would agree on for an asset or security when neither is under pressure and both have access to the same information. Think of it as the market’s neutral estimate of what something is worth, like the price two neighbors would settle on for a car after comparing similar listings. Investors care because fair market value guides buying and selling decisions, tax reporting, portfolio valuation, and how accurately company assets are reflected in financial statements.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What did ROCK VP and CFO Joseph Lovechio report in this Form 4?
He reported receiving 284.72 restricted stock units as a matching award under Gibraltar Industries’ 2018 Management Stock Purchase Plan, tied to his deferral of salary and cash incentive compensation, plus updated totals for his restricted stock units and common shares.
How many restricted stock units does ROCK CFO Joseph Lovechio now hold?
After the new matching award, he holds 2,063.06 restricted stock units linked to Gibraltar Industries stock. These units reflect compensation deferrals and remain subject to service-based forfeiture and later cash settlement rules described in the 2018 Management Stock Purchase Plan.
What are the forfeiture conditions on ROCK CFO Lovechio’s restricted stock units?
The restricted stock units are forfeited if his service as an officer ends before the fifth anniversary of his vesting start date. This creates a multi-year retention requirement aligned with the company’s 2018 Management Stock Purchase Plan provisions for senior officers.
How will Joseph Lovechio’s Gibraltar RSUs be paid out if they vest fully?
If he remains an officer beyond the fifth anniversary, the restricted stock units are paid solely in cash, either in one lump sum or in five or ten equal annual installments, starting six months after his officer service terminates, based on the stock’s fair market value then.
Are ROCK CFO Lovechio’s restricted stock units settled in stock or cash?
The plan specifies the restricted stock units are payable solely in cash once service requirements are met and his officer role ends. Each unit converts into a cash amount equal to the fair market value of one Gibraltar Industries common share on the termination date.
AI-generated analysis. How Rhea-AI works. Not financial advice.
