Timken (TKR) Form 3: Officer Discenza Discloses Equity Awards Through 2029
Rhea-AI Filing Summary
Michael Anthony Discenza filed a Form 3 reporting initial beneficial ownership in The Timken Company (TKR). He directly owns 15,748 common shares and holds a mix of employee stock options and restricted share units that vest through 2029, including options for 7,900 underlying shares and RSUs totaling 9,263 scheduled across various vesting and performance periods.
Positive
- None.
Negative
- None.
Insights
TL;DR: Initial insider filing shows modest direct holdings plus meaningful equity incentives through options and RSUs.
The filing documents a standard initial disclosure for a named officer; direct ownership of 15,748 shares is supplemented by employee stock options exercisable through 2029 and time- and performance-based RSUs vesting through 2029. The holdings align compensation with long-term shareholder outcomes without revealing any material change to company control or outstanding capital structure.
TL;DR: Governance disclosure is complete for Section 16 purposes, showing both time- and performance-based equity awards.
The Form 3 properly reports direct ownership and lists exercise dates, expiration dates, and vesting schedules for options and restricted share units. The mix of performance and time-based awards is typical for executive compensation and provides transparency on the officer's potential future dilution and alignment with performance metrics.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| holding | Employee Stock Option (right to buy) | -- | -- | -- |
| holding | Employee Stock Option (right to buy) | -- | -- | -- |
| holding | Restricted Share Unit | -- | -- | -- |
| holding | Restricted Share Unit | -- | -- | -- |
| holding | Restricted Share Unit | -- | -- | -- |
| holding | Restricted Share Unit | -- | -- | -- |
| holding | Restricted Share Unit | -- | -- | -- |
| holding | Restricted Share Unit | -- | -- | -- |
| holding | Restricted Share Unit | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Footnotes (1)
- Performance based restricted share units subject to certain performance criteria between January 1, 2023 and December 31, 2025. Performance based restricted share units subject to certain performance criteria between January 1, 2024 and December 31, 2026. Performance based restricted share units subject to certain performance criteria between January 1, 2025 and December 31, 2027. Remaining restricted share units from February 10, 2022 grant of time based restricted share units that vest 25% per year. Remaining restricted share units from February 9, 2023 grant of time based restricted share units that vest 25% per year. Remaining restricted share units from February 8, 2024 grant of time based restricted share units that vest 25% per year. Remaining restricted share units from February 13, 2025 grant of time based restricted share units that vest 25% per year.
