Schneider (NYSE: SNDR) EVP sells 8,352 shares after option exercise
Rhea-AI Filing Summary
Schneider National EVP Shaleen Devgun exercised employee stock options to acquire 8,352 shares of Class B common stock at an exercise price of $24.81 per share, then sold the same 8,352 shares in an open-market transaction at a weighted average price of $38.5942 per share in multiple trades between $38.50 and $38.72.
The exercised options, originally granted on March 15, 2018 and vesting in four equal annual installments, had their exercise price reduced from $26.81 to $24.81 to reflect a $2.00 per share special dividend paid on November 9, 2020. Following these transactions, Devgun holds 38,619 Class B shares directly and 122,787 Class B shares indirectly through a trust, and the reported option position was fully exercised.
Positive
- None.
Negative
- None.
Insider Trade Summary
Exercise and Sale: 8,352 shares ($115K approx. pre-tax spread)
Exercise and Sale
4 txns
Insider
Devgun Shaleen
Role
EVP-Chief Innovation, Tech
Sold
8,352 shs ($322K)
Approx. gross sale proceeds
$322K
Approx. exercise cost
$207K
Approx. pre-tax spread
$115K
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Employee Stock Option (Right to Buy) | 8,352 | $0.00 | $0.00 |
| Exercise | Class B Common Stock | 8,352 | $24.81 | $207K |
| Sale | Class B Common Stock | 8,352 | $38.5942 | $322K |
| holding | Class B Common Stock | -- | -- | -- |
Holdings After Transaction:
Employee Stock Option (Right to Buy) — 0 shares (Direct);
Class B Common Stock — 38,619 shares (Direct);
Class B Common Stock — 122,787 shares (Indirect, By Trust)
Footnotes (3)
- F1. This transaction was executed in multiple trades at prices ranging from $38.50 USD to $38.72 USD; the price reported above reflects the weighted average sale price.
- F2. In accordance with the provisions of the applicable plan and option agreements, the Compensation Committee approved an equitable adjustment to reduce the exercise price of the options from $26.81 at the time of the grant to $24.81 in order to reflect the $2.00 per share special dividend paid on outstanding shares of the Issuer's Class A and Class B common stock on November 9, 2020.
- F3. These options vested in equal annual installments on each of the first four anniversaries of the grant date, which was March 15, 2018.
Key Figures
Shares sold: 8,352 shares
Weighted average sale price: $38.5942 per share
Option exercise price: $24.81 per share
+5 more
8 metrics
Shares sold
8,352 shares
Class B common stock sold in open market
Weighted average sale price
$38.5942 per share
Open-market sale; trades between $38.50 and $38.72
Option exercise price
$24.81 per share
Adjusted from $26.81 after $2.00 special dividend
Direct holdings after transaction
38,619 shares
Class B common stock held directly by Devgun
Indirect holdings after transaction
122,787 shares
Class B common stock held indirectly by trust
Options exercised
8,352 options
Employee Stock Option (Right to Buy) exercised
Option expiration
February 15, 2028
Expiration date of exercised option grant
Net share change from trades
-8,352 shares
Net buy/sell direction classified as net-sell
Key Terms
weighted average sale price, special dividend, equitable adjustment, Employee Stock Option (Right to Buy), +1 more
5 terms
weighted average sale price financial
"the price reported above reflects the weighted average sale price"
special dividend financial
"to reflect the $2.00 per share special dividend paid on outstanding shares"
A special dividend is a one-time payment made by a company to its shareholders, usually when it has accumulated excess profits or cash. It is like a bonus or a reward for investors, often signaling that the company has extra funds available. This type of dividend matters because it can indicate a company's financial health or a significant change in its cash situation.
equitable adjustment financial
"the Compensation Committee approved an equitable adjustment to reduce the exercise price"
Employee Stock Option (Right to Buy) financial
"security_title": "Employee Stock Option (Right to Buy)""
Compensation Committee financial
"the Compensation Committee approved an equitable adjustment to reduce the exercise price"
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.
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What did Schneider National (SNDR) executive Shaleen Devgun do in this Form 4?
Shaleen Devgun exercised stock options for 8,352 Class B shares, then sold 8,352 shares in the open market. The filing shows both the option exercise and the related share sale on the same date.
What were the terms and vesting schedule of Shaleen Devgun’s exercised SNDR options?
The exercised employee stock options covered 8,352 shares of Class B common stock with a $24.81 exercise price. These options were granted on March 15, 2018 and vested in four equal annual installments on each of the first four anniversaries of the grant date.
Why was the exercise price of Shaleen Devgun’s Schneider National options adjusted?
The exercise price was reduced from $26.81 to $24.81 under the company’s plan and option agreements. The Compensation Committee approved this equitable adjustment to reflect a $2.00 per share special dividend paid on Schneider’s Class A and Class B shares on November 9, 2020.