ACCO BRANDS (NYSE: ACCO) director granted dividend-equivalent RSUs
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
ACCO BRANDS Corp director Joseph B. Burton received a grant of 2,735.3000 Restricted Stock Units tied to common stock. These RSUs were acquired under dividend equivalent provisions attached to his earned and outstanding RSU awards and increase his direct holdings to 110,686.6900 derivative-based units.
The RSUs were granted under the company’s Incentive Plan and have been deferred under the Deferred Compensation Plan for Non-Employee Directors. They either vest immediately or on the one-year anniversary of the grant date and convert into common shares upon the earlier of his death or disability, or when he leaves the Board.
Positive
- None.
Negative
- None.
Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
BURTON JOSEPH B
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Restricted Stock Units | 2,735.3 | $0.00 | -- |
Holdings After Transaction:
Restricted Stock Units — 110,686.69 shares (Direct)
Footnotes (1)
- Represents Restricted Stock Units (RSUs) acquired pursuant to the dividend equivalent provisions of the Reporting Person's earned and outstanding RSU awards. Restricted Stock Units (RSUs) granted under the Issuer's Incentive Plan. RSUs are immediately vested or vest on the one year anniversary of the grant date, but in either case, have been deferred under the Issuer's Deferred Compensation Plan for Non-Employee Directors. Each RSU represents the right to receive one share of the Issuer's common stock upon the earlier of the date of the reporting person's death or disability, or cessation of service as a member of the Board of Directors.
FAQ
What did ACCO (ACCO) director Joseph B. Burton report on this Form 4?
Joseph B. Burton reported receiving 2,735.3000 Restricted Stock Units linked to ACCO common stock. These units arise from dividend equivalent provisions on his existing RSU awards, increasing his deferred equity-based position as a non-employee director under the company’s incentive and deferred compensation plans.
How many ACCO (ACCO) Restricted Stock Units does Joseph B. Burton hold after this transaction?
After the reported grant, Joseph B. Burton holds a total of 110,686.6900 Restricted Stock Units. These RSUs represent deferred rights to receive ACCO common shares in the future, rather than current stock ownership, under the company’s director compensation and deferral arrangements.
What is the nature of the RSUs granted to ACCO (ACCO) director Joseph B. Burton?
The RSUs represent deferred stock units granted under ACCO’s Incentive Plan and Deferred Compensation Plan for Non-Employee Directors. Each RSU entitles him to one share of common stock upon death, disability, or when his service on the Board of Directors ends, according to the plan terms.
How were the new ACCO (ACCO) RSUs to Joseph B. Burton generated?
The 2,735.3000 RSUs were acquired under dividend equivalent provisions tied to Burton’s earned and outstanding RSU awards. Instead of receiving cash dividends, the value is credited as additional RSUs, compounding his deferred equity-based compensation as a non-employee director.
When do Joseph B. Burton’s ACCO (ACCO) RSUs vest and pay out?
The RSUs either vest immediately or on the one-year anniversary of the grant date, as specified in ACCO’s plans. However, shares of common stock are only delivered upon the earlier of Burton’s death or disability, or when he ceases serving on the Board of Directors.