Wabtec (NYSE: WAB) EVP shifts 3,727 phantom stock units in deferred plan
Rhea-AI Filing Summary
Westinghouse Air Brake Technologies Corp EVP Operations Gregory Sbrocco reported compensation-related transactions involving phantom stock and common shares. On May 5, 2026, he exercised 3,727 phantom stock units, each economically equivalent to one Wabtec common share, as part of the company’s Deferred Compensation Plan for Executive Officers and Directors.
The phantom stock was settled for cash at $263.44 per unit in connection with a transfer between investment options inside the deferred compensation plan, rather than a market trade. Following these transactions, Sbrocco directly holds 21,995 shares of common stock and 4,555 phantom stock units, reflecting routine plan administration rather than an open‑market buy or sale.
Positive
- None.
Negative
- None.
Insider Trade Summary
3,727 shares exercised/converted
Exercise
3 txns
Insider
Sbrocco Gregory
Role
EVP Operations
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| In-the-Money Exercise | Phantom Stock | 3,727 | $0.00 | $0.00 |
| In-the-Money Exercise | Common Stock - Direct | 3,727 | $0.00 | $0.00 |
| Other | Common Stock - Direct | 3,727 | $263.44 | $982K |
Holdings After Transaction:
Phantom Stock — 4,555 shares (Direct);
Common Stock - Direct — 21,995 shares (Direct)
Footnotes (2)
- F1. Each share of phantom stock is the economic equivalent of one share of Westinghouse Air Brake Technologies Corporation's common stock. The reporting person settled his shares of phantom stock for cash at the price of $263.44 per share in connection with a fund transfer within the Westinghouse Air Brake Technologies Corporation Deferred Compensation Plan for Executive Officers and Directors.
- F2. The phantom stock was payable according to the election of payment designation filed by the reporting person subject to the Westinghouse Air Brake Technologies Corporation Deferred Compensation Plan for Executive Officers and Directors and could be transferred into an alternative investment fund at any time.
Key Figures
Phantom units exercised: 3,727 units
Cash settlement price: $263.44 per unit
Common shares after transaction: 25,722 shares
+2 more
5 metrics
Phantom units exercised
3,727 units
Exercise of phantom stock on May 5, 2026
Cash settlement price
$263.44 per unit
Settlement value for phantom stock units
Common shares after transaction
25,722 shares
Direct WAB common stock holdings post-transaction
Phantom stock after transaction
4,555 units
Remaining phantom stock units after exercise
Restructuring shares
3,727 shares
Shares involved in other compensation-related transaction (code J)
Key Terms
Phantom Stock, Deferred Compensation Plan for Executive Officers and Directors, derivative security
3 terms
Phantom Stock financial
"Each share of phantom stock is the economic equivalent of one share"
A phantom stock is a form of compensation that gives employees or executives the benefits of stock ownership, such as the increase in stock value, without actually giving them real shares. It acts like a promise to pay the employee the equivalent value of company stock later, often as a bonus or incentive. This allows companies to motivate and reward staff without diluting ownership or transferring actual shares.
Deferred Compensation Plan for Executive Officers and Directors financial
"in connection with a fund transfer within the Westinghouse Air Brake Technologies Corporation Deferred Compensation Plan for Executive Officers and Directors"
derivative security financial
"Exercise of in-the-money or at-the-money derivative security"
A derivative security is a financial contract whose value comes from the price or performance of something else, such as a stock, bond, commodity, or market index. For investors it acts like an insurance policy or a wager: it can be used to protect against losses, lock in prices, or amplify gains and losses, so it can change a portfolio’s risk and potential return without owning the underlying asset directly.
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What insider transaction did WAB executive Gregory Sbrocco report on May 5, 2026?
Gregory Sbrocco reported exercising 3,727 phantom stock units on May 5, 2026. These units, each equal in value to one WAB common share, were settled for cash within the company’s deferred compensation plan, reflecting an internal plan transaction rather than an open-market trade.
What is the significance of the $263.44 price in Gregory Sbrocco’s WAB Form 4 filing?
The $263.44 price is the cash settlement value per phantom stock unit used when Sbrocco settled 3,727 units. Each phantom stock unit is economically equivalent to one WAB common share, and this amount was applied in connection with a fund transfer within the deferred compensation plan.
What does WAB mean by phantom stock in Gregory Sbrocco’s insider filing?
In this context, phantom stock represents units economically equivalent to one share of WAB common stock. Sbrocco’s phantom stock is held under the company’s Deferred Compensation Plan and can be settled for cash or transferred between investment options according to his prior payment elections.
What is the Westinghouse Air Brake deferred compensation plan mentioned in Sbrocco’s Form 4?
The deferred compensation plan for WAB executive officers and directors allows participants to hold phantom stock units and other investments. According to the filing, Sbrocco’s phantom stock could be transferred into alternative investment funds and was payable based on his previously filed payment elections.