Root CEO reports PSU grants and tax share withholding
Root, Inc. Chief Executive Officer Alexander E. Timm reported equity compensation activity involving Class A Common Stock.
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Rhea-AI Filing Summary
Root, Inc. Chief Executive Officer Alexander E. Timm reported equity compensation activity involving Class A Common Stock. On February 18, he acquired 113,659 and 8,736 shares at $0.00 per share through grants and vesting of performance-based restricted share units under the 2020 Equity Incentive Plan.
On February 19, the company withheld 10,508 and 3,962 shares at $61.59 per share to cover tax obligations tied to those vesting PSUs, leaving his direct holdings at 259,337 shares after these transactions.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise Price or Tax Liability | Class A Common Stock | 10,508 | $61.59 | $647K |
| Exercise Price or Tax Liability | Class A Common Stock | 3,962 | $61.59 | $244K |
| Grant/Award | Class A Common Stock | 113,659 | $0.00 | $0.00 |
| Grant/Award | Class A Common Stock | 8,736 | $0.00 | $0.00 |
Footnotes (3)
- F1. Reflects Performance-Based Restricted Share Units ("PSUs") granted under the Issuer's 2020 Equity Incentive Plan. One-quarter of the PSUs vested upon the certification of performance by the Compensation Committee and the remainder vest annually (25% per year) on January 1, 2027, January 1, 2028, and January 1, 2029.
- F2. These shares of common stock were withheld by the Issuer to satisfy tax withholding obligations associated with the vesting of PSUs.
- F3. Vesting of PSUs granted under the Issuer's 2020 Equity Incentive Plan upon the certification of performance by the Compensation Committee.
FAQ
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What insider transactions did ROOT CEO Alexander Timm report?
What equity plan governs the ROOT CEO’s reported PSU awards?
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