Gibraltar Industries (ROCK) VP receives matching restricted stock unit grant
Rhea-AI Filing Summary
Watorek Jeffrey J. reported acquisition or exercise transactions in this Form 4 filing.
Gibraltar Industries VP and Treasurer Jeffrey J. Watorek received a grant of 86.94 restricted stock units as a matching award under the company’s 2018 Management Stock Purchase Plan. The award corresponds to his deferral of a portion of annual base salary and cash incentive compensation.
The filing also updates his holdings to 16,576 shares of common stock held directly, 333.905 shares held through a 401(k), and 1,632.44 restricted stock units after this grant. These restricted stock units are forfeited if his officer service ends before the fifth anniversary of his vesting start date, and upon qualifying termination are settled in cash based on the fair market value of the common stock.
Positive
- None.
Negative
- None.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Restricted Stock Unit (2018 MSPP Match) | 86.94 | $0.00 | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock (401k) | -- | -- | -- |
Footnotes (1)
- 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. 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.