Voya Financial (VOYA) executive Keshavan receives major PSU and RSU grants
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Voya Financial executive Santhosh Keshavan reported multiple equity compensation transactions. On February 17, he was granted 19,829 performance stock units and 16,223 restricted stock units at no cost as part of his compensation.
The performance stock units can ultimately deliver between 0% and 150% of that 19,829 figure in common shares, based on performance through the vesting date of February 20, 2029. The restricted stock units vest in three equal installments on February 16, 2027, February 15, 2028, and February 20, 2029.
He also exercised or converted 4,722 performance stock units and 10,079 restricted stock units into common stock, and 6,988 common shares were withheld at $74.39 per share to cover taxes. Following these transactions, he continues to hold performance-based stock options covering 35,587 shares.
Positive
- None.
Negative
- None.
Insider Trade Summary
14,801 shares exercised/converted
Mixed
8 txns
Insider
Keshavan Santhosh
Role
See Remarks
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Performance Stock Unit | 19,829 | $0.00 | -- |
| Exercise | Performance Stock Unit | 4,722 | $0.00 | -- |
| Grant/Award | Restricted Stock Units | 16,223 | $0.00 | -- |
| Exercise | Restricted Stock Units | 10,079 | $0.00 | -- |
| Exercise | Common Stock | 4,722 | $0.00 | -- |
| Exercise | Common Stock | 10,079 | $0.00 | -- |
| Tax Withholding | Common Stock | 6,988 | $74.39 | $520K |
| holding | Performance-Based Stock Options | -- | -- | -- |
Holdings After Transaction:
Performance Stock Unit — 65,725 shares (Direct);
Restricted Stock Units — 35,674 shares (Direct);
Common Stock — 33,838 shares (Direct);
Performance-Based Stock Options — 35,587 shares (Direct)
Footnotes (1)
- Delivery of shares of the company's common stock was made to the reporting person without the payment of ay 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.
FAQ
What equity awards did Voya (VOYA) executive Santhosh Keshavan receive?
Santhosh Keshavan received 19,829 performance stock units and 16,223 restricted stock units as compensation, both at no cost. These awards are tied to future performance and time-based vesting, potentially increasing his exposure to Voya Financial’s common stock over several years.
How do the new Voya (VOYA) performance stock units for Keshavan vest?
The 19,829 performance stock units vest based on specified performance factors through February 20, 2029. On that date, common shares delivered can range from 0% to 150% of the 19,829 units, depending entirely on how the underlying performance metrics are achieved.
What is the vesting schedule for Keshavan’s new Voya (VOYA) restricted stock units?
The 16,223 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. Each vested unit converts into one share of Voya Financial common stock at those dates.
How many Voya (VOYA) performance-based stock options does Keshavan hold after these transactions?
After the reported transactions, Keshavan holds performance-based stock options covering 35,587 shares of Voya common stock. These options vest according to conditions set in their respective agreements, aligning potential future gains with meeting defined company performance criteria.
What derivative conversions to Voya (VOYA) common stock did Keshavan report?
Keshavan reported exercising or converting 4,722 performance stock units and 10,079 restricted stock units into common stock at a stated price of $0.00. These conversions increased his direct share ownership, subject to the separate tax-withholding share disposition also reported.