Watts Water (NYSE: WTS) GC reports stock grant and tax-withholding share disposition
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Watts Water Technologies General Counsel Kenneth Robert Lepage reported routine equity compensation activity in Class A Common Stock. He received a grant of 1,297 shares of deferred stock that vest in three equal annual installments beginning on the first anniversary of the grant date. On the same date, 304 shares were automatically withheld at a price of $297.80 per share to cover taxes upon the vesting of a prior deferred stock award granted on March 13, 2023, a non-discretionary transaction required by his grant agreement. After these transactions, he directly holds 13,277 shares of Class A Common Stock.
Positive
- None.
Negative
- None.
Insider Trade Summary
2 transactions reported
Mixed
2 txns
Insider
Lepage Kenneth Robert
Role
General Counsel
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Class A Common Stock | 1,297 | $0.00 | -- |
| Tax Withholding | Class A Common Stock | 304 | $297.80 | $91K |
Holdings After Transaction:
Class A Common Stock — 13,581 shares (Direct)
Footnotes (1)
- Consists of shares of deferred stock that vest in three equal annual installments beginning on the first anniversary of the date of grant. Represents shares disposed to cover taxes upon the vesting of a deferred stock award granted to the Reporting Person on March 13, 2023. The disposition of shares to cover tax withholding obligations is required by the terms of the Reporting Person's grant agreement and does not represent a discretionary transaction by the Reporting Person.
FAQ
What insider transactions did WTS General Counsel Kenneth Lepage report on this Form 4?
Kenneth Lepage reported receiving 1,297 shares of deferred Class A Common Stock as an equity grant and a disposition of 304 shares to cover tax withholding. Both transactions are routine compensation-related events rather than open-market buying or selling of Watts Water Technologies (WTS) shares.
Were Kenneth Lepage’s WTS stock transactions open-market buys or sells?
The transactions were not open-market buys or sells. Lepage received 1,297 shares as a deferred stock grant and 304 shares were disposed solely to cover taxes upon the vesting of a prior award, as required by his grant agreement, making them non-discretionary compensation events.
What are the vesting terms of Kenneth Lepage’s new Watts Water deferred stock award?
The 1,297-share deferred stock grant vests in three equal annual installments, beginning on the first anniversary of the March 13, 2026 grant date. This structure spreads the delivery of shares over three years, aligning Lepage’s compensation with longer-term service and performance at Watts Water Technologies.