Gibraltar Industries (ROCK) director awarded 3,059 shares in equity grant
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Nish James B reported acquisition or exercise transactions in this Form 4 filing.
Gibraltar Industries director James B. Nish reported a compensation-related equity award. He received a grant of 3,059 shares of common stock at $37.59 per share, bringing his directly held common stock position to 15,035 shares after the transaction.
The filing also shows deferred compensation in the form of restricted stock units under the Company’s Management Stock Purchase Plan. These units, tied to portions of his director fees and retainer, are ultimately payable solely in cash based on the company’s share price after his board service ends, and may be forfeited if service ends before age sixty.
Positive
- None.
Negative
- None.
Insider Trade Summary
3 transactions reported
Mixed
3 txns
Insider
Nish James B
Role
null
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock | 3,059 | $37.59 | $115K |
| holding | Restricted Stock Unit (MSPP Match Post-2012) | -- | -- | -- |
| holding | Restricted Stock Unit (MSPP Post-2012) | -- | -- | -- |
Holdings After Transaction:
Common Stock — 15,035 shares (Direct, null);
Restricted Stock Unit (MSPP Match Post-2012) — 587.89 shares (Direct, null);
Restricted Stock Unit (MSPP Post-2012) — 3,852.23 shares (Direct, null)
Footnotes (1)
- Represents shares of common stock which the Reporting Person is entitled to receive annually pursuant to the compensation program in effect for non-employee directors. Represents matching restricted stock units allocated to the Reporting Person after 2012 with respect to the Reporting Person's deferral of a portion of his annual retainer fee pursuant to the Company's Management Stock Purchase Plan. Restricted stock units are forfeited if Reporting Person's service as a director of the Company is terminated prior to age sixty (60). If service as a director continues through age sixty (60), 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 (200 day rolling average) of one share of the Company's common stock on the date of termination of the Reporting Person's service as a director of the Company. Represents restricted stock units allocated to the Reporting Person after 2012 pursuant to the Company's Management Stock Purchase Plan to reflect the Reporting Person's deferral of a portion of his director meeting fees and his annual director retainer fee. 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 as a director of the Company. Each restricted stock unit is converted to cash in an amount equal to the fair market value (200 day rolling average) of one share of the Company's common stock on the date of termination of the Reporting Person's service as a director of the Company.
Key Figures
Equity grant: 3,059 shares
Grant price: $37.59 per share
Direct common shares after grant: 15,035 shares
+2 more
5 metrics
Equity grant
3,059 shares
Common stock award at $37.59 per share
Grant price
$37.59 per share
Price for common stock award on the transaction date
Direct common shares after grant
15,035 shares
Total directly held Gibraltar Industries common stock
RSUs (MSPP Post-2012)
3,852.23 underlying shares
Restricted stock units tied to common stock, payable in cash
Matching RSUs (MSPP Match Post-2012)
587.89 underlying shares
Matching restricted stock units from deferral of retainer fees
Key Terms
Restricted stock units, Management Stock Purchase Plan, annual retainer fee, director meeting fees, +1 more
5 terms
Restricted stock units financial
"Restricted stock units are forfeited if Reporting Person's service as a director of the Company is terminated prior to age sixty"
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.
Management Stock Purchase Plan financial
"pursuant to the Company's Management Stock Purchase Plan to reflect the Reporting Person's deferral"
annual retainer fee financial
"with respect to the Reporting Person's deferral of a portion of his annual retainer fee"
director meeting fees financial
"deferral of a portion of his director meeting fees and his annual director retainer fee"
200 day rolling average financial
"equal to the fair market value (200 day rolling average) of one share of the Company's common stock"
FAQ
What insider transaction did ROCK director James B. Nish report?
James B. Nish reported receiving an equity grant of 3,059 shares of Gibraltar Industries common stock at $37.59 per share. This award is compensation-related, not an open-market purchase, and increased his directly held common stock to 15,035 shares.
What are the restricted stock units reported by James B. Nish at ROCK?
Nish holds restricted stock units under the Management Stock Purchase Plan, representing deferrals of director fees and retainers. These units are ultimately payable solely in cash, based on the fair market value of Gibraltar’s common stock when his board service ends.
Are James B. Nish’s ROCK restricted stock units settled in stock or cash?
The restricted stock units are settled only in cash, not shares. Upon termination of board service, each unit converts to a cash amount equal to the 200-day rolling average fair market value of one Gibraltar Industries common share.
Under what conditions can James B. Nish’s ROCK restricted stock units be forfeited?
Restricted stock units allocated after 2012 may be forfeited if Nish’s board service ends before age sixty. If he serves through age sixty, they become payable in cash on a schedule he elected after his service ends.