LTE - Regarding Eric Cohen: I'm not certain that the 116% represented the maximum that he could have been entitled to receive from this performance-based incentive plan. My past experience with Rule 10b5-1 trading plans indicate that these plan parameters are established well in advance of creating any transactions. The authorization to sell these shares where described in the past rather than any court actions that were announced last week. JMHO
Acquisition (Non Open Market) Direct 22,822 $0.00 67,120
* The transaction reported represents the vesting of awards of performance-based restricted stock units granted to the reporting person on March 31, 2020 pursuant to the company's 2017 Equity Incentive Plan in accordance with the company's long-term compensation program. Based on the achievement level of the 2020 cycle performance goal, 116% of the reporting person's target performance-based restricted stock unit awards, or 21,444 restricted stock units, vested on March 15, 2023, together with 1,378.2084 additional shares representing accrued dividend equivalent units.
Disposition (Non Open Market) Direct 17,369 $73.43 49,750
* in satisfaction of the reporting person's tax liability - See notes #2 & #4 below
Automatic Sell Direct 7,597 $72.42 42,153
* The transaction was effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person. See notes #6 & #7 below.
_______________________________
1. The transaction reported represents the vesting of awards of performance-based restricted stock units granted to the reporting person on March 31, 2020 pursuant to the company's 2017 Equity Incentive Plan in accordance with the company's long-term compensation program. Based on the achievement level of the 2020 cycle performance goal, 116% of the reporting person's target performance-based restricted stock unit awards, or 21,444 restricted stock units, vested on March 15, 2023, together with 1,378.2084 additional shares representing accrued dividend equivalent units.
2. The transaction reported reflects the withholding of restricted stock units in satisfaction of the reporting person's tax liability in connection with the transaction described in Note 1.
3. The transaction reported reflects the cash settlement of fractional shares in connection with the vesting of restricted stock units, as described in Note 1.
4. The transaction reported reflects the withholding of restricted stock units in satisfaction of the reporting person's tax liability. The restricted stock units were granted to the reporting person on March 31, 2020, March 31, 2021 and March 15, 2022 pursuant to the company's 2017 Equity Incentive Plan in accordance with the company's long-term compensation program and vested on March 15, 2023, together with accrued dividend equivalents.
5. The transaction reported reflects the cash settlement of fractional shares in connection with the vesting of restricted stock units, as described in Note 4.
6. The number of securities reported represents an aggregate number of shares sold in multiple open market transactions over a range of sales prices ranging from $71.798 to $72.76 per share. The price reported represents the weighted average price. The Reporting Person undertakes to provide to the staff of the SEC, the Issuer, or a stockholder of the Issuer, upon request, the number of shares sold by the Reporting Person at each separate price within the range. The transaction was effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person.
7. The number of securities reported represents an aggregate number of shares sold in multiple open market transactions over a range of sales prices ranging from $72.80 to $73.77 per share. The price reported represents the weighted average price. The Reporting Person undertakes to provide to the staff of the SEC, the Issuer, or a stockholder of the Issuer, upon request, the number of shares sold by the Reporting Person at each separate price within the range. The transaction was effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person.
Your recent post #431092:
How thrilled was Cohen when he dumped his stock grants?
COHEN ERIC Officer 03/15/2023 Acquisition (Non Open Market) Direct 22,822 $0.00 67,120
COHEN ERIC Officer 03/15/2023 Disposition (Non Open Market) Direct 17,369 $73.43 49,750
COHEN ERIC Officer 03/15/2023 Automatic Sell Direct 7,597 $72.42 42,153
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