Gibraltar (ROCK) CFO granted 765 matching restricted stock units
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 an award of 765.49 matching restricted stock units under the company’s 2018 Management Stock Purchase Plan, tied to his deferral of base salary and annual cash incentive compensation. These restricted stock units are forfeited if his service as an officer ends before the fifth anniversary of his vesting commencement date. If his service continues beyond that point, the units are settled in cash after he leaves the company, either in a lump sum or in five or ten annual installments, based on the fair market value of one share of Gibraltar’s common stock at termination. Following this award, he directly holds 1,778.34 restricted stock units and 12,390 shares of common stock.
Positive
- None.
Negative
- None.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Restricted Stock Unit (2018 MSPP Match) | 765.49 | $0.00 | -- |
| holding | Common Stock | -- | -- | -- |
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 their annual cash incentive compensation pursuant to the Company's 2018 Management Stock Purchase Plan.