Veris Residential (NYSE: VRE) CFO vests stock units, withholds shares to cover taxes
Rhea-AI Filing Summary
Veris Residential, Inc. chief financial officer Amanda Lombard reported equity compensation activity involving performance-based stock units and related tax withholding. On March 16, 2026, 24,868 performance vesting restricted stock units vested and an additional 4,688 units were forfeited at the end of the three-year performance period, with the vested units converting into common stock at a $0.00 exercise price.
To cover tax liabilities on shares issued from these awards, Lombard had 11,475 shares of common stock withheld on March 16, 2026 at $18.8890 per share and 3,859 shares withheld on March 17, 2026 at $18.8750 per share, both reported as tax-withholding dispositions rather than open-market sales. Following these transactions, she holds 113,170 shares of Veris Residential common stock directly.
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Insights
Routine equity vesting with tax withholding, no open‑market trades.
The Form 4 for Amanda Lombard, CFO of Veris Residential, Inc., shows a standard equity compensation event. A block of 24,868 performance vesting RSUs vested and converted into common shares at a $0.00 exercise price after a three-year performance period tied to total shareholder return metrics.
To satisfy tax obligations on the vested awards (and time‑vesting RSUs), the company withheld 15,334 shares in total across two days at prices of $18.8890 and $18.8750 per share. These F‑code entries are payments of tax liability using shares, not discretionary open‑market sales, which limits their informational value about the insider’s view of the stock.
After the vesting and tax withholding, Lombard directly holds 113,170 common shares. With no remaining derivative position reported in the derivativeSummary and no open‑market buying or selling, the filing reflects routine compensation mechanics rather than a change in investment stance. Future company filings may provide additional detail on new awards or subsequent transactions.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Tax Withholding | Common Stock, $0.01 par value | 3,859 | $18.875 | $73K |
| Exercise | Performance Vesting Restricted Stock Units | 29,556 | $0.00 | -- |
| Exercise | Common Stock, $0.01 par value | 24,868 | $0.00 | -- |
| Tax Withholding | Common Stock, $0.01 par value | 11,475 | $18.889 | $217K |
Footnotes (1)
- On March 16, 2026, the reporting person vested in 24,868 performance vesting restricted stock units (each, a "PVRSU") and forfeited 4,688 PVRSUs that did not vest at the end of the applicable three year performance period. Each PVRSU represented a contingent right to receive one share of common stock, $0.01 par value (the "Common Stock"), of Veris Residential, Inc. (the "Company'). Forfeiture of shares for net share settlement of taxes on shares issued upon vesting of PVRSUs. Forfeiture of shares for net share settlement of taxes on shares issued upon vesting of time vesting restricted stock units. Fifty percent (50%) of the PVRSUs were eligible to vest over a three year period ended March 16, 2026 based on the attainment of absolute total stockholder return ("TSR") metrics by the Company. The remaining fifty percent (50%) of the PVRSUs were eligible to vest over a three year period ended March 16, 2026 based on the Company's TSR relative to the TSR of a select group of twenty-three (23) peer REITs over the same three year performance period.
