Solstice (SOLS) director Brian Worrell reports RSU grant and small shareholding
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Worrell Brian reported acquisition or exercise transactions in this Form 4 filing.
Solstice Advanced Materials Inc. director Brian Worrell reported a small equity award and his initial shareholdings. On the reported date, he received a grant of 2 restricted stock units (RSUs), bringing his RSU balance to 1,786 units, each representing one share of Solstice common stock.
Some RSUs reflect dividend equivalent rights that accrue and vest alongside the underlying RSUs. Worrell also holds 9 shares of Solstice common stock directly, which were received in connection with the spin-off of Solstice Advanced Materials Inc. from Honeywell International Inc. The RSUs will vest on the date of Solstice’s next annual meeting of shareowners.
Positive
- None.
Negative
- None.
Insider Trade Summary
2 transactions reported
Mixed
2 txns
Insider
Worrell Brian
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Restricted Stock Units | 2 | $0.00 | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Restricted Stock Units — 1,786 shares (Direct);
Common Stock — 9 shares (Direct)
Footnotes (1)
- Consists of shares received in connection with the spin-off of Solstice Advanced Materials Inc. (the "Issuer") from Honeywell International Inc. Each restricted stock unit ("RSU") represents a contingent right to receive one share of the Issuer's common stock. Represents dividend equivalent rights in connection with the Issuer's dividend that accrue to the reporting person in RSUs that vest at the same time as the underlying RSUs. The RSUs will vest on the date of the next annual meeting of shareowners of the Issuer.
FAQ
What did Solstice Advanced Materials (SOLS) director Brian Worrell report in this Form 4?
Brian Worrell reported a grant of 2 restricted stock units (RSUs) and his current holdings. After this grant, he holds 1,786 RSUs and 9 shares of Solstice common stock directly, reflecting equity received in connection with the company’s spin-off from Honeywell.
How many restricted stock units does Brian Worrell hold in Solstice Advanced Materials (SOLS)?
Following the reported grant, Brian Worrell holds 1,786 restricted stock units in Solstice. Each RSU represents a contingent right to receive one share of Solstice common stock, subject to vesting conditions tied to the company’s next annual meeting of shareowners.
When do Brian Worrell’s Solstice Advanced Materials (SOLS) RSUs vest?
The restricted stock units reported for Brian Worrell will vest on the date of the next annual meeting of Solstice shareowners. Until vesting, they remain contingent rights that convert into common shares only once the vesting condition is satisfied.
What common stock position does Brian Worrell hold in Solstice Advanced Materials (SOLS)?
Brian Worrell directly holds 9 shares of Solstice common stock. According to the disclosure, these shares were received in connection with the spin-off of Solstice Advanced Materials Inc. from Honeywell International Inc. and are held in his direct ownership.
What are dividend equivalent rights mentioned in Brian Worrell’s Solstice (SOLS) Form 4?
Dividend equivalent rights are amounts that accrue as additional RSUs when Solstice pays dividends. For Brian Worrell, these rights accumulate in RSUs that vest at the same time as the underlying RSUs, effectively mirroring the treatment of actual dividend payments on common shares.
What does each Solstice Advanced Materials (SOLS) RSU represent for Brian Worrell?
Each Solstice restricted stock unit held by Brian Worrell represents a contingent right to receive one share of the company’s common stock. The conversion occurs only when the RSUs vest, which for this grant is scheduled at the next annual meeting of shareowners.