Gregory Ide granted 243 restricted Seneca Foods Class A shares under 2007 plan
Rhea-AI Filing Summary
Seneca Foods Corp reported an award of restricted Class A common stock to Gregory R. Ide, who is identified as Vice President, Controller and Assistant Secretary. The filing shows Mr. Ide was granted 243 shares under the companys 2007 Equity Incentive Plan (amended July 2017). The shares were issued at no cost to the reporting person and vest 25% per year over four years, converting the grant to earned shares on an annual schedule.
After this award Mr. Ide is shown as directly beneficially owning 1,281 shares of Class A common stock. The filing discloses no derivative transactions and the explanation confirms the grant is a restricted stock award under the stated plan.
Positive
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Insights
TL;DR: Routine restricted stock award to an officer; standard multi-year vesting aligns pay with long-term ownership.
The filing documents a typical equity compensation event: a grant of 243 restricted Class A shares to a named officer under the companys existing equity plan. The award vests 25% per year over four years, which is a common mechanism to encourage retention and align the officers interests with shareholders. The report shows the shares were issued at no cost and that the officer holds 1,281 shares directly after the grant. From a governance standpoint this is customary and not indicative of extraordinary corporate actions.
TL;DR: Insignificant market impact; a small, standard officer grant with no cash paid and time-based vesting.
The transaction disclosed is an award of restricted stock rather than a market purchase or sale. The quantity granted (243 shares) and the post-transaction direct beneficial ownership (1,281 shares) are explicitly stated. The grants zero purchase price and four-year, 25% annual vesting schedule are documented in the form. Absent further material details such as larger grants, cash payments, option exercises, or derivative activity, this filing is unlikely to be material to the companys capital structure or near-term market valuation.