Watts Water (NYSE: WTS) CEO receives stock awards and covers tax with shares
Rhea-AI Filing Summary
Watts Water Technologies President and CEO Robert J. Pagano Jr. reported routine equity compensation transactions in Class A Common Stock. He received 12,511 shares of deferred stock that vest in three equal annual installments starting one year after the March 13, 2026 grant date.
He also acquired 5,685 shares subject to restricted stock units under the Management Stock Purchase Plan at a 20% discount to the $238.24 closing price, using a portion of his pre-tax 2025 performance bonus. These restricted stock units vest in three equal annual installments beginning one year after grant.
To cover tax withholding on a prior deferred stock award granted on March 13, 2023, 1,857 shares were disposed at $297.80 per share, as required by his grant agreement, and not as a discretionary transaction. Following these transactions, he directly owns 207,541 shares of Class A Common Stock.
Positive
- None.
Negative
- None.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Class A Common Stock | 12,511 | $0.00 | -- |
| Grant/Award | Class A Common Stock | 5,685 | $238.24 | $1.35M |
| Tax Withholding | Class A Common Stock | 1,857 | $297.80 | $553K |
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 subject to restricted stock units purchased by the Reporting Person under the Issuer's Management Stock Purchase Plan at a discount of 20% from the closing sale price of the Issuer's Class A Common Stock on March 13, 2026. The restricted stock units were purchased using a portion of the Reporting Person's pre-tax 2025 performance bonus. The restricted stock units vest in three equal annual installments beginning one year after 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.