Snap-on executive reports equity awards and vesting
Snap-on executive Thomas J. Ward, Sr VP & President of the RS&I Group, reported equity compensation activity tied to performance and new awards.
Rhea-AI Filing Summary
Snap-on executive Thomas J. Ward, Sr VP & President of the RS&I Group, reported equity compensation activity tied to performance and new awards. Based on company performance over 2023–2025, 69.7% of his performance units vested, leading to the conversion of 2,524 performance units into 2,524 common shares.
To cover taxes on this vesting, 1,114 shares of common stock were withheld at a price of $378.55 per share, and Ward’s directly held common stock position became 60,790.1242 shares after these transactions. He also received new grants of 5,187 stock options with a $378.55 exercise price, plus 1,249 restricted stock units and 2,497 performance units that may vest if future multi‑year performance goals for 2024–2027 and 2026–2028 are achieved.
Positive
- None.
Negative
- None.
Insider Trade Summary
2,524 shares exercised/converted
Exercise
15 txns
Insider
Ward Thomas J
Role
Sr VP & President - RS&I Group
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Disposition | Performance Units | 1,097 | $0.00 | $0.00 |
| Exercise | Performance Units | 2,524 | $0.00 | $0.00 |
| Grant/Award | Stock Option (Right to Buy) | 5,187 | $0.00 | $0.00 |
| Grant/Award | Restricted Stock Units | 1,249 | $0.00 | $0.00 |
| Grant/Award | Performance Units | 2,497 | $0.00 | $0.00 |
| Exercise | Common Stock | 2,524 | $0.00 | $0.00 |
| Exercise Price or Tax Liability | Common Stock | 1,114 | $378.55 | $422K |
| holding | Stock Option (Right to Buy) | -- | -- | -- |
| holding | Stock Option (Right to Buy) | -- | -- | -- |
| holding | Stock Option (Right to Buy) | -- | -- | -- |
| holding | Stock Option (Right to Buy) | -- | -- | -- |
| holding | Restricted Stock Units | -- | -- | -- |
| holding | Restricted Stock Units | -- | -- | -- |
| holding | Performance Units | -- | -- | -- |
| holding | Performance Units | -- | -- | -- |
Holdings After Transaction:
Stock Option (Right to Buy) — 29,386 contracts for 24,199 underlying shares (Direct);
Restricted Stock Units — 4,031 contracts for 2,782 underlying shares (Direct);
Performance Units — 8,060 contracts for 5,563 underlying shares (Direct);
Common Stock — 60,790.1242 shares (Direct)
Footnotes (10)
- F1. Based on Company performance during the 2023-2025 period, 69.7% of the performance units vested (as previously disclosed, the reporting person had the opportunity to earn up to 200% of the number originally reported, subject to plan limits).
- F2. Shares were withheld to cover tax withholding upon the vesting of performance units.
- F3. 1 for 1.
- F4. Original stock option grant vests in three annual installments beginning on the date listed in the "Date Exercisable" column.
- F5. The transaction was an option grant. Accordingly, the reporting person did not pay a price to obtain the option.
- F6. The restricted stock units vest three years from the grant date on the date listed above, assuming continued employment.
- F7. If the Company achieves certain goals over the 2026-2028 period, the performance units will vest and stock will be awarded. The target number of units that may be earned is reported above; the maximum amount is 200% of the number reported, subject to plan limits.
- F8. Option fully vested.
- F9. If the Company achieves certain goals over the 2024-2026 period, the performance units will vest and stock will be awarded. The target number of units that may be earned is reported above; the maximum amount is 200% of the number reported, subject to plan limits.
- F10. If the Company achieves certain goals over the 2025-2027 period, the performance units will vest and stock will be awarded. The target number of units that may be earned is reported above; the maximum amount is 200% of the number reported, subject to plan limits.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What did Snap-on (SNA) executive Thomas J. Ward report in this Form 4?
Thomas J. Ward reported vesting and settlement of performance units, related tax-withholding share dispositions, and new grants of stock options, restricted stock units, and performance units. These transactions are part of his ongoing equity compensation, not an open-market stock purchase or sale.
What equity awards were granted to Thomas J. Ward by Snap-on (SNA)?
He received 5,187 stock options with a $378.55 exercise price, 1,249 restricted stock units, and 2,497 performance units. The units generally vest in future years, subject to continued employment and the company achieving specified multi-year performance goals described in the footnotes.
How were performance units for Thomas J. Ward determined to vest at Snap-on (SNA)?
The vesting was based on company performance during the 2023–2025 period. According to the filing, 69.7% of the performance units vested, with prior disclosures stating he could earn up to 200% of the originally reported units, subject to plan limits and performance outcomes.
When will Thomas J. Ward’s new Snap-on (SNA) equity awards vest?
The stock options vest in three annual installments starting on the exercisable dates listed, while restricted stock units generally vest three years from the grant date. Performance units can vest over periods such as 2024–2026, 2025–2027, and 2026–2028 if Snap-on meets specified goals.
AI-generated analysis. How Rhea-AI works. Not financial advice.
