Voya Financial (NYSE: VOYA) executive awarded stock units and withholds shares for taxes
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Voya Financial executive Michael Robert Katz reported multiple equity compensation transactions. On February 17, he received grants of 25,729 performance stock units and 21,051 restricted stock units at no cost, awarded as compensation. The performance stock units can ultimately deliver from 0% to 150% of this figure based on performance through February 20, 2029.
Katz also exercised or converted existing performance and restricted stock units into 3,349 and 9,549 shares of common stock, respectively. To cover tax obligations, 5,911 shares of common stock were disposed of at $74.39 per share through share delivery rather than an open-market sale. The restricted stock units are scheduled to vest in three equal installments in 2027, 2028, and 2029.
Positive
- None.
Negative
- None.
Insider Trade Summary
12,898 shares exercised/converted
Mixed
9 txns
Insider
Katz Michael Robert
Role
See Remarks
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Performance Stock Unit | 25,729 | $0.00 | -- |
| Exercise | Performance Stock Unit | 3,349 | $0.00 | -- |
| Grant/Award | Restricted Stock Units | 21,051 | $0.00 | -- |
| Exercise | Restricted Stock Units | 9,549 | $0.00 | -- |
| Exercise | Common Stock | 3,349 | $0.00 | -- |
| Exercise | Common Stock | 9,549 | $0.00 | -- |
| Tax Withholding | Common Stock | 5,911 | $74.39 | $440K |
| holding | Performance-Based Stock Options | -- | -- | -- |
| holding | Deferred Savings Plan Issuer Stock Units | -- | -- | -- |
Holdings After Transaction:
Performance Stock Unit — 68,961 shares (Direct);
Restricted Stock Units — 42,049 shares (Direct);
Common Stock — 43,445 shares (Direct);
Performance-Based Stock Options — 35,587 shares (Direct);
Deferred Savings Plan Issuer Stock Units — 863.532 shares (Direct)
Footnotes (1)
- Delivery of shares of the company's common stock was made to the reporting person without the payment of any consideration in connection with the vesting of the underlying restricted and performance stock units that were awarded as compensation. The stock units will vest based on their respective award agreements. The number of shares of common stock that will be delivered for each performance stock unit depends on the achievement of certain performance factors. Depending on actual performance, the number of shares of common stock delivered upon the vesting date (February 20, 2029) can range from 0% to 150% of the number presented above. The performance stock units were awarded as compensation and converted to common stock based on the achievement of certain performance factors. 1/3 of the restricted stock units will vest on February 16, 2027, 1/3 on February 15, 2028 and 1/3 on February 20, 2029. The restricted stock units were awarded as compensation and converted to common stock on a 1 to 1 basis upon the vesting date. The options vest based on the conditions set forth in their respective agreements. Each of these units represents a right to receive the cash value of one share of the company's common stock upon the reporting person's separation from the company. The reporting person may reallocate investments in the units to alternative investments in the future. Includes dividends of 15.885 shares.
FAQ
What did Voya Financial (VOYA) executive Michael Robert Katz report in this Form 4?
Michael Robert Katz reported several equity compensation transactions, including grants and vesting of performance stock units and restricted stock units, plus related tax share withholding. These changes reflect compensation awards and conversions into common stock rather than open-market share purchases or sales.
How many performance stock units did Michael Robert Katz receive from Voya Financial (VOYA)?
He received 25,729 performance stock units as a compensation award at no cost. The actual number of common shares delivered in 2029 will depend on performance, with potential payout ranging from 0% to 150% of the units reported in this filing.
What are the vesting terms of Michael Robert Katz’s Voya Financial (VOYA) restricted stock units?
The restricted stock units vest in three equal installments: one-third on February 16, 2027, one-third on February 15, 2028, and one-third on February 20, 2029. Upon vesting, they convert into common stock on a one-for-one basis, subject to the award agreements.
How is the payout from Michael Robert Katz’s Voya Financial (VOYA) performance stock units determined?
The number of common shares delivered for each performance stock unit depends on achievement of specified performance factors. As disclosed, shares delivered on February 20, 2029 can range from 0% to 150% of the 25,729 units, depending on actual performance results.