Rogers Corp (ROG) SVP receives 3,451 time-based restricted stock units
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Rogers Corp senior vice president and Chief Administrative Officer Michael Reed Webb reported an equity grant of 3,451 shares of common stock in the form of time-based restricted stock units. These units convert to common stock on a one-for-one basis and vest in three equal annual installments starting on the first anniversary of the grant date, contingent on continued employment, with pro-rata vesting only in cases of death, disability, or retirement and forfeiture of unvested units upon other termination.
Positive
- None.
Negative
- None.
Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
Webb Michael Reed
Role
SVP & Chief Admin Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common (Capital) Stock | 3,451 | $0.00 | -- |
Holdings After Transaction:
Common (Capital) Stock — 11,251 shares (Direct)
Footnotes (1)
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FAQ
What insider transaction did Rogers Corp (ROG) report for Michael Reed Webb?
Rogers Corp disclosed that SVP and Chief Administrative Officer Michael Reed Webb received 3,451 time-based restricted stock units. These units convert to common stock on a one-for-one basis and represent an equity award rather than an open-market stock purchase or sale.
How do Michael Reed Webb’s restricted stock units in Rogers Corp (ROG) vest?
The restricted stock units vest in three equal installments on each of the first three anniversaries of the grant date. Vesting requires that Michael Reed Webb remain employed with Rogers Corp or an affiliate, with different treatment if his employment ends due to death, disability, or retirement.
What happens to unvested Rogers Corp (ROG) RSUs if Michael Reed Webb leaves the company?
Unvested restricted stock units are forfeited if employment ends for reasons other than death, disability, or retirement. If he dies, becomes disabled, or retires before the third anniversary of the grant date, a pro-rated portion of the remaining unvested units will vest instead of being forfeited.
Is Michael Reed Webb’s Rogers Corp (ROG) grant an open-market stock purchase?
No, the filing describes a grant of restricted stock units with a stated price of zero per share. This indicates an equity compensation award under the company’s 2019 Long-Term Equity Compensation Plan, not an open-market purchase of Rogers Corp shares for cash.