YETI (NYSE: YETI) CEO receives stock awards and uses shares for taxes
Rhea-AI Filing Summary
YETI Holdings President and CEO Matthew J. Reintjes reported multiple equity award-related transactions in company common stock. He acquired 160,448 shares tied to a previously granted performance-based restricted stock unit award after the compensation committee certified that the performance criteria were achieved. He also received a new grant of 30,610 restricted stock units, which will vest over several years beginning February 20, 2027.
To cover tax withholding on vesting restricted stock units, 63,137 shares were twice disposed of back to YETI at a price of $47.68 per share, a non-open-market, tax-withholding disposition. The filing also notes 110,000 shares held indirectly in a spousal lifetime access trust for his family, for which he disclaims beneficial ownership.
Positive
- None.
Negative
- None.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock | 160,448 | $0.00 | -- |
| Grant/Award | Common Stock | 160,448 | $0.00 | -- |
| Tax Withholding | Common Stock | 63,137 | $47.68 | $3.01M |
| Tax Withholding | Common Stock | 63,137 | $47.68 | $3.01M |
| Grant/Award | Common Stock | 30,610 | $0.00 | -- |
| holding | Common Stock | -- | -- | -- |
Footnotes (1)
- Represents shares of common stock underlying an award of restricted stock units previously granted by the Issuer on February 24, 2023, the vesting of which was subject to the Issuer's achievement of previously established performance criteria over a multi-year measurement period. The Compensation Committee of the Issuer's Board of Directors has certified achievement of the performance criteria, and the number of shares of common stock reported herein consists of the shares underlying the award that were earned based upon such achievement. Represents shares withheld by the Issuer to satisfy tax withholding obligations in connection with the vesting of restricted stock units previously granted to the reporting person. Represents restricted stock units. One-third of the restricted stock units will vest on February 20, 2027, and one-sixth of the restricted stock units will vest on each of the first four six-month anniversaries thereafter. Each restricted stock unit represents the right to receive one share of the Issuer's common stock. Includes 94,928 shares underlying restricted stock units. Upon settlement in accordance with the terms of the applicable award agreement, the restricted stock units will be paid on a one-for-one basis in shares of the Issuer's common stock. These shares are held in a Spousal Lifetime Access Trust ("SLAT") for the benefit of the reporting person's spouse and children. The reporting person's spouse serves as trustee of the SLAT. The reporting person disclaims beneficial ownership of the shares in the SLAT.