Gibraltar Industries (ROCK) CEO logs tax-withholding stock disposition on Form 4
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Gibraltar Industries President and CEO William T. Bosway reported a tax-withholding disposition of 5,872 shares of common stock at $45.48 per share. After this transaction, he directly holds 227,765 common shares. He also holds 43,981.51 and 69,271.42 restricted stock units under the 2018 Management Stock Purchase Plan, which are ultimately settled in cash based on the company’s share value.
Positive
- None.
Negative
- None.
Insider Trade Summary
3 transactions reported
Mixed
3 txns
Insider
Bosway William T
Role
President and CEO
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Tax Withholding | Common Stock | 5,872 | $45.48 | $267K |
| holding | Restricted Stock Unit (2018 MSPP Match) | -- | -- | -- |
| holding | Restricted Stock Unit (2018 MSPP) | -- | -- | -- |
Holdings After Transaction:
Common Stock — 227,765 shares (Direct);
Restricted Stock Unit (2018 MSPP Match) — 43,981.51 shares (Direct);
Restricted Stock Unit (2018 MSPP) — 69,271.42 shares (Direct)
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 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 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 transaction did ROCK CEO William Bosway report on this Form 4?
William T. Bosway reported a tax-withholding disposition of company stock. The transaction used existing shares to satisfy tax obligations rather than an open-market sale, reflecting administrative handling of equity compensation instead of a discretionary buy or sell decision.
How are Gibraltar Industries (ROCK) restricted stock units under the 2018 plan settled?
The restricted stock units are ultimately payable solely in cash after the CEO’s service ends. Cash payments are based on the fair market value of Gibraltar Industries common stock at termination, with options for lump sum or multi-year installment distributions under the plan.
Do the ROCK restricted stock units have vesting or forfeiture conditions?
Matching restricted stock units are forfeited if the CEO’s officer service ends before the fifth anniversary of the vesting commencement date. If service continues beyond that point, units are retained and later paid in cash after termination according to the plan’s distribution options.