Sonic Automotive (NYSE: SAH) President Jeff Dyke granted 38,175 performance-based RSUs
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
DYKE JEFF reported acquisition or exercise transactions in this Form 4 filing.
Sonic Automotive President and director Jeff Dyke received a grant of 38,175 performance-based restricted stock units tied to Class A Common Stock. Each unit is a contingent right to receive one share, the cash equivalent, or a combination, at the Compensation Committee’s discretion if performance criteria are met.
If the performance goals are achieved, 25% of the units will vest on March 31, 2027, 30% on February 11, 2028, and 45% on February 11, 2029. Following this award, Dyke holds 60,776 performance-based restricted stock units directly.
Positive
- None.
Negative
- None.
Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
DYKE JEFF
Role
President
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Performance-Based Restricted Stock Units | 38,175 | $0.00 | -- |
Holdings After Transaction:
Performance-Based Restricted Stock Units — 60,776 shares (Direct, null)
Footnotes (1)
- Each performance-based restricted stock unit represents a contingent right to receive, upon the satisfaction of certain performance criteria, one share of Class A Common Stock, the equivalent cash value, or a combination of both, at the option and sole discretion of the Compensation Committee of Sonic Automotive, Inc. If the performance criteria are met, this award will vest in three installments, with twenty-five percent (25%) of the units vesting on March 31, 2027, thirty percent (30%) of the units vesting on February 11, 2028, and forty-five percent (45%) of the units vesting on February 11, 2029.
Key Figures
RSUs granted: 38,175 units
Total RSUs after grant: 60,776 units
First vesting tranche: 25% of units
+3 more
6 metrics
RSUs granted
38,175 units
Performance-based restricted stock units granted to Jeff Dyke
Total RSUs after grant
60,776 units
Performance-based restricted stock units held by Jeff Dyke following award
First vesting tranche
25% of units
Vests on March 31, 2027 if performance criteria are met
Second vesting tranche
30% of units
Vests on February 11, 2028 if performance criteria are met
Third vesting tranche
45% of units
Vests on February 11, 2029 if performance criteria are met
Transaction price per unit
$0.00
Grant of RSUs as compensation, no cash paid per unit
Key Terms
Performance-Based Restricted Stock Units, Class A Common Stock, Compensation Committee, vest
4 terms
Performance-Based Restricted Stock Units financial
"Each performance-based restricted stock unit represents a contingent right to receive..."
Performance-based restricted stock units are a type of employee equity award that converts into company shares only if predefined financial or operational targets are met over a set period. Think of it like a bonus check that becomes stock only when specific goals are hit; it ties pay to results, aligning managers’ incentives with shareholders. Investors care because these awards affect future share count, executive incentives, and signal how management’s success will be measured and rewarded.
Class A Common Stock financial
"one share of Class A Common Stock, the equivalent cash value, or a combination..."
Class A common stock is a category of a company’s shares that carries a specific set of ownership rights—most commonly defined voting power and claims on dividends—set out in the company’s charter. For investors it matters because the class determines how much influence you have over corporate decisions, the share’s likely dividend and trading behavior, and how it compares in value to other share classes, like choosing a particular seat with different privileges at the company’s decision-making table.
Compensation Committee financial
"at the option and sole discretion of the Compensation Committee of Sonic Automotive, Inc."
A compensation committee is a group within a company's leadership responsible for setting and reviewing how much top executives and employees are paid, including salaries, bonuses, and benefits. It matters to investors because fair and effective pay decisions can influence a company's performance, leadership motivation, and overall governance, helping ensure that the company’s management is aligned with shareholders’ interests.
vest financial
"this award will vest in three installments, with twenty-five percent (25%) of the units vesting..."
A vest is the process by which an employee earns the right to receive certain benefits or ownership interests, such as stock or retirement funds, over time. It’s similar to earning a reward gradually, ensuring that the benefit becomes fully yours only after a set period or meeting specific conditions. This makes it important for investors because it determines when they can actually claim or use those benefits.
FAQ
What did Sonic Automotive (SAH) President Jeff Dyke report on this Form 4?
Jeff Dyke reported receiving 38,175 performance-based restricted stock units. These units are tied to Sonic Automotive’s Class A Common Stock and were granted as compensation, contingent on meeting specified performance criteria over future years.
How many performance-based RSUs does Jeff Dyke hold after this Sonic Automotive grant?
After the grant, Jeff Dyke holds 60,776 performance-based restricted stock units. This total includes the newly awarded 38,175 units and represents his direct derivative-based equity compensation tied to Sonic Automotive’s Class A Common Stock.
How do Jeff Dyke’s Sonic Automotive performance-based RSUs vest over time?
If performance criteria are met, 25% of the units vest on March 31, 2027, 30% vest on February 11, 2028, and 45% vest on February 11, 2029. Vesting occurs in three installments over these specified dates.
What can Jeff Dyke receive for each Sonic Automotive performance-based RSU?
Each unit represents a contingent right to receive one share of Class A Common Stock, the equivalent cash value, or a combination of both. The Compensation Committee of Sonic Automotive chooses the form of settlement at its sole discretion.
What determines whether Jeff Dyke’s Sonic Automotive RSUs will vest?
Vesting of the RSUs depends on satisfying defined performance criteria. Only if those performance goals are met will the units vest on the scheduled dates, and then be settled in stock, cash, or a mix, as decided by the Compensation Committee.