Gibraltar Industries (ROCK) CFO receives 321.88 cash-settled matching RSUs
Filing Impact
Filing Sentiment
Form Type
4
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 reported compensation-related equity activity. He received 321.88 matching restricted stock units tied to his deferral of base salary and annual cash incentive compensation under the company’s 2018 Management Stock Purchase Plan, bringing his total RSUs to 2,384.94. These units are forfeited if his officer service ends before the fifth anniversary of his vesting start date. After that point, they are settled solely in cash, based on the fair market value of one share of Gibraltar’s common stock at the time his officer service ends. Following this filing, he directly holds 13,390 shares of common stock, alongside the reported RSUs.
Positive
- None.
Negative
- None.
Insider Trade Summary
2 transactions reported
Mixed
2 txns
Insider
Lovechio Joseph A
Role
VP and CFO
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Restricted Stock Unit (2018 MSPP Match) | 321.88 | $0.00 | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Restricted Stock Unit (2018 MSPP Match) — 2,384.94 shares (Direct, null);
Common Stock — 13,390 shares (Direct, null)
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.
Key Figures
New RSU grant: 321.88 units
Total RSUs after grant: 2,384.94 units
Common stock holding: 13,390 shares
3 metrics
New RSU grant
321.88 units
Matching RSUs under 2018 Management Stock Purchase Plan
Total RSUs after grant
2,384.94 units
RSU balance following transaction
Common stock holding
13,390 shares
Shares of Gibraltar Industries common stock held directly
Key Terms
Restricted stock units, 2018 Management Stock Purchase Plan, deferral of a portion of their annual base salary, annual cash incentive compensation
4 terms
Restricted stock units financial
"Represents matching restricted stock units allocated to the Reporting Person"
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
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"
FAQ
What insider transaction did ROCK VP and CFO Joseph Lovechio report?
Joseph Lovechio reported receiving 321.88 matching restricted stock units under Gibraltar’s 2018 Management Stock Purchase Plan. These RSUs are linked to his deferred cash compensation and increase his total RSU balance while leaving his direct common stock position at 13,390 shares.
How many restricted stock units does the ROCK CFO hold after this Form 4?
After this Form 4, the CFO holds 2,384.94 restricted stock units under the 2018 Management Stock Purchase Plan. These RSUs reflect past matching allocations tied to deferred salary and incentives and are ultimately settled in cash based on Gibraltar’s common stock value.
Are the ROCK CFO’s new restricted stock units settled in stock or cash?
The new restricted stock units are payable solely in cash if the CFO’s officer service continues beyond the fifth anniversary of his vesting commencement date. Each RSU is converted to cash equal to the fair market value of one Gibraltar common share at service termination.
What happens to the ROCK CFO’s restricted stock units if he leaves early?
The restricted stock units are forfeited if his service as an officer ends before the fifth anniversary of his vesting commencement date. This condition ties the value of the RSUs to continued service in his officer role with Gibraltar Industries.