ZipRecruiter (NYSE: ZIP) details CFO stock awards vesting from 2027
Rhea-AI Filing Summary
ZIPRECRUITER, INC. (ZIP) reported an initial ownership statement for its EVP and Chief Financial Officer, Carmen Wai-Yan Chan, detailing equity awards tied to Class A Common Stock. The filing lists 150,000 Performance Stock Units and 500,000 Restricted Stock Units, each representing a contingent right to receive one share of Class A Common Stock upon settlement. Both awards are subject to service-based vesting, with 1/4 of the total shares scheduled to vest on September 15, 2027, then 1/16 of the total shares vesting quarterly thereafter until fully vested, contingent on continued service. The performance stock units also require achievement of specified stock price hurdles.
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Insider Trade Summary
2 transactions reported
Mixed
2 txns
Insider
Chan Carmen Wai-Yan
Role
EVP, Chief Financial Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| holding | Performance Stock Units F2, F1 | -- | -- | -- |
| holding | Restricted Stock Units F5, F3, F4 | -- | -- | -- |
Holdings After Transaction:
Performance Stock Units — 150,000 shares (Direct);
Restricted Stock Units — 500,000 shares (Direct)
Footnotes (5)
- F1. Subject to the achievement of certain specified stock price hurdles and service-based vesting requirements, the performance stock units will vest and are scheduled to settle as of 1/4 of the total shares beginning on September 15, 2027, then 1/16 of the total shares quarterly thereafter until fully vested, subject to the Reporting Person's continued service to the Issuer on each vesting date.
- F2. Each performance stock unit represents a contingent right to receive one share of the Issuer's Class A Common Stock upon settlement.
- F3. The Restricted Stock Unit(s) ("RSU(s)") vest and are scheduled to settle as of 1/4 of the total shares beginning on September 15, 2027, then 1/16 of the total shares quarterly thereafter until fully vested, subject to the Reporting Person's continued service to the Issuer on each vesting date.
- F4. RSUs do not expire; they either vest or are canceled prior to vesting date.
- F5. Each RSU represents a contingent right to receive one share of the Issuer's Class A Common Stock upon settlement.
Key Figures
Performance Stock Units underlying shares: 150,000 shares of Class A Common Stock
Restricted Stock Units underlying shares: 500,000 shares of Class A Common Stock
Initial vesting date: September 15, 2027
+3 more
6 metrics
Performance Stock Units underlying shares
150,000 shares of Class A Common Stock
Underlying shares for Performance Stock Units held directly by the CFO
Restricted Stock Units underlying shares
500,000 shares of Class A Common Stock
Underlying shares for Restricted Stock Units held directly by the CFO
Initial vesting date
September 15, 2027
1/4 of total PSUs and RSUs scheduled to vest on this date
Quarterly vesting fraction
1/16 of total shares quarterly
PSUs and RSUs vest 1/16 of total shares each quarter after initial vesting date
Share conversion ratio for PSUs
1 PSU : 1 share of Class A Common Stock
Each Performance Stock Unit represents a contingent right to one share upon settlement
Share conversion ratio for RSUs
1 RSU : 1 share of Class A Common Stock
Each Restricted Stock Unit represents a contingent right to one share upon settlement
Key Terms
Performance Stock Units, Restricted Stock Unit(s) ("RSU(s)"), contingent right, service-based vesting requirements, +1 more
5 terms
Performance Stock Units financial
"Subject to the achievement of certain specified stock price hurdles and service-based vesting requirements, the performance stock units will vest"
Performance stock units are a type of company award that grants employees shares of stock only if certain performance goals are met. They motivate employees to work toward specific company achievements, aligning their interests with those of shareholders. For investors, they can influence a company's future stock supply and reflect management’s confidence in reaching key targets.
Restricted Stock Unit(s) ("RSU(s)") financial
"The Restricted Stock Unit(s) ("RSU(s)") vest and are scheduled to settle as of 1/4 of the total shares"
contingent right financial
"Each performance stock unit represents a contingent right to receive one share of the Issuer's Class A Common Stock"
service-based vesting requirements financial
"Subject to the achievement of certain specified stock price hurdles and service-based vesting requirements, the performance stock units will vest"
settle financial
"The Restricted Stock Unit(s) ("RSU(s)") vest and are scheduled to settle as of 1/4 of the total shares"
FAQ
What did ZIP (ZipRecruiter, Inc.) disclose about Carmen Chan’s equity awards in this Form 3?
ZIP disclosed that Carmen Wai-Yan Chan holds 150,000 Performance Stock Units and 500,000 Restricted Stock Units, each convertible into Class A Common Stock, subject to vesting schedules and, for performance units, stock price hurdles and continued service requirements.
How many Performance Stock Units does ZIP’s CFO hold according to the Form 3?
The CFO, Carmen Wai-Yan Chan, holds 150,000 Performance Stock Units, each representing a contingent right to receive one share of ZIP’s Class A Common Stock upon settlement, subject to specified stock price hurdles and service-based vesting conditions.
How many Restricted Stock Units are reported for ZIP (ZIP) CFO Carmen Chan?
Carmen Wai-Yan Chan is reported to hold 500,000 Restricted Stock Units, with each RSU representing a contingent right to receive one share of Class A Common Stock upon settlement, subject to a time-based vesting schedule and continued service.
What is the vesting schedule for ZIP’s Performance Stock Units and RSUs reported in this Form 3?
Both the Performance Stock Units and RSUs vest as follows: 1/4 of the total shares on September 15, 2027, then 1/16 of the total shares quarterly thereafter until fully vested, subject to the reporting person’s continued service to ZipRecruiter on each vesting date.
Do ZIP’s Performance Stock Units and RSUs in this filing require any performance conditions?
The Performance Stock Units require achievement of specified stock price hurdles and service-based vesting. The Restricted Stock Units are subject to service-based vesting only, and RSUs do not expire; they either vest or are canceled prior to the vesting date.
AI-generated analysis. How Rhea-AI works. Not financial advice.