Visteon (NASDAQ: VC) grants performance and RSU awards to legal chief
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
PYNNONEN BRETT D reported acquisition or exercise transactions in this Form 4 filing.
Visteon Corp granted equity awards to its SVP & Chief Legal Officer, Brett D. Pynnonen. He received 7,573 performance rights, each representing a contingent right to one share of common stock, with vesting based on relative shareholder return and return on invested capital over a three‑year performance period.
He was also granted 5,049 restricted stock units, which vest 33% on each March 15 following the grant date. Both awards are settled in Visteon common stock upon vesting, subject to tax withholding. Following these awards, his direct common stock holdings total 11,767 shares.
Positive
- None.
Negative
- None.
Insider Trade Summary
3 transactions reported
Mixed
3 txns
Insider
PYNNONEN BRETT D
Role
SVP & Chief Legal Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Performance Rights | 7,573 | $0.00 | -- |
| Grant/Award | Restricted Stock Units | 5,049 | $0.00 | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Performance Rights — 7,573 shares (Direct);
Restricted Stock Units — 5,049 shares (Direct);
Common Stock — 11,767 shares (Direct)
Footnotes (1)
- Each performance right represents a contingent right to receive one share of Visteon common stock. The vesting of the performance right is based on relative shareholder return and return on invested capital metrics over a three year performance period and payable in stock, subject to tax withholding. Restricted Stock Units vest to the extent of 33% of the units granted on the following March 15th of each year after the date of grant. Each Restricted Stock Unit will be converted and distributed to me, without payment, in stock upon vesting and based upon the then current market value of a share of Visteon common stock, subject to tax withholding.
FAQ
What insider transactions did Visteon (VC) report for Brett D. Pynnonen?
Visteon reported equity awards to Brett D. Pynnonen. He received 7,573 performance rights and 5,049 restricted stock units, both settled in common stock upon vesting and subject to tax withholding, increasing his long-term, stock-based compensation exposure.
How do the performance rights granted by Visteon (VC) to Brett Pynnonen vest?
The 7,573 performance rights vest based on performance. Vesting depends on relative shareholder return and return on invested capital over a three-year performance period, after which they are payable in Visteon common stock, subject to applicable tax withholding requirements.
What are the vesting terms for Brett Pynnonen’s restricted stock units at Visteon (VC)?
The 5,049 restricted stock units vest in three annual installments. Thirty‑three percent of the units vest on each March 15 following the grant date, then convert into Visteon common stock at the then-current market value, subject to tax withholding.
Are Brett Pynnonen’s new Visteon (VC) equity awards granted at a purchase price?
The reported performance rights and restricted stock units were granted with no purchase price. Both awards will be settled in shares of Visteon common stock upon vesting, and the delivered shares will be reduced for any required tax withholding obligations.