Western Union (NYSE: WU) CEO receives stock award and withholds shares for taxes
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Western Union CEO Devin McGranahan reported equity award activity in company stock. He acquired 403,771 shares of common stock at no cost upon settlement of performance-based restricted stock units granted on February 23, 2023, following the Board’s certification of performance results.
On the same date, 21,274 shares and 180,306 shares of common stock were withheld by the company to satisfy his tax withholding obligations tied to the vesting and settlement of restricted stock units, including the 403,771 performance-based units. After these transactions, he directly owned 1,115,316 shares of Western Union common stock.
Positive
- None.
Negative
- None.
Insider Trade Summary
3 transactions reported
Mixed
3 txns
Insider
McGranahan Devin
Role
CEO & President
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock | 403,771 | $0.00 | -- |
| Tax Withholding | Common Stock | 21,274 | $9.21 | $196K |
| Tax Withholding | Common Stock | 180,306 | $9.21 | $1.66M |
Holdings After Transaction:
Common Stock — 1,316,896 shares (Direct)
Footnotes (1)
- Shares acquired upon the settlement of performance-based restricted stock unit awards granted by the Company to the reporting person on February 23, 2023, based on the performance factor applied in accordance with the terms of the award and certification of performance results by the Board. Represents shares withheld by the Company to satisfy tax withholding obligations of the reporting person that arose in connection with the vesting and settlement of 47,727 restricted stock units, representing the final vesting installment of the restricted stock unit award granted by the Company to the reporting person on February 23, 2023. Represents shares withheld by the company to satisfy tax withholding obligations of the reporting person that arose in connection with the vesting and settlement of 403,771 performance based restricted stock units granted by the company to the reporting person on February 23, 2023 and reported herein.
FAQ
What insider transactions did Western Union (WU) report for Devin McGranahan?
Devin McGranahan reported a large stock award and related tax withholding. He acquired 403,771 Western Union common shares from performance-based restricted stock units, while separate share withholdings covered his tax obligations on vesting, leaving him with 1,115,316 directly owned shares after the transactions.
What are performance-based restricted stock units in the Western Union CEO’s award?
Performance-based restricted stock units convert into shares only if specified performance goals are met. In this case, units granted to the Western Union CEO on February 23, 2023, settled into 403,771 common shares after the Board applied the performance factor and certified the final performance results.
Were Devin McGranahan’s Western Union transactions open-market buys or sells?
The Form 4 reflects an equity award settlement and tax-withholding, not open-market trading. Shares were acquired through a grant classified as a performance-based restricted stock unit settlement, while the reported disposals represent shares withheld by the company solely to cover related tax liabilities.