Celanese (NYSE: CE) director receives additional phantom stock units as compensation
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
GALANTE EDWARD G reported acquisition or exercise transactions in this Form 4 filing.
Celanese Corp director Edward G. Galante received a small grant of 4.028 phantom stock units on Celanese common stock. These units were credited as dividend equivalents on compensation he deferred under the company’s 2008 Deferred Compensation Plan and are settled in common shares under that plan’s terms.
Following this award, Galante holds a total of 6,806.793 phantom stock units tied to Celanese common stock. This filing reflects a routine, compensation-related accrual rather than an open-market purchase or sale of shares.
Positive
- None.
Negative
- None.
Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
GALANTE EDWARD G
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Phantom Stock | 4.028 | $50.67 | $204.10 |
Holdings After Transaction:
Phantom Stock — 6,806.793 shares (Direct)
Footnotes (1)
- Each share of phantom stock represents the right to receive one share of Common Stock. The reported phantom stock represents dividend equivalents on compensation deferred under the Company's 2008 Deferred Compensation Plan (the "Plan"). The shares of phantom stock become payable in shares of Common Stock, as provided in the Plan.
FAQ
What insider transaction did Celanese (CE) director Edward Galante report?
Edward G. Galante reported receiving 4.028 phantom stock units linked to Celanese common stock. This was a routine compensation-related award, recorded as dividend equivalents on deferred compensation under the company’s 2008 Deferred Compensation Plan.
Is Edward Galante’s Celanese Form 4 transaction a stock purchase or sale?
The transaction is not an open-market stock purchase or sale. It is a grant of phantom stock units as dividend equivalents on deferred compensation, settled in Celanese common shares according to the 2008 Deferred Compensation Plan.
How many phantom stock units does Edward Galante hold after this Celanese Form 4?
After this transaction, Edward G. Galante holds 6,806.793 phantom stock units tied to Celanese common stock. Each phantom unit represents the right to receive one share of Celanese common stock under the company’s deferred compensation plan.
What does phantom stock mean in the Celanese (CE) insider filing?
In this context, phantom stock represents the right to receive one share of Celanese common stock per unit. These units track the value of the stock and are ultimately payable in shares under the company’s 2008 Deferred Compensation Plan.
Why did Edward Galante receive 4.028 phantom stock units from Celanese?
The 4.028 phantom stock units reflect dividend equivalents on compensation he previously deferred. When Celanese pays dividends, equivalent amounts are credited as phantom stock under the 2008 Deferred Compensation Plan, rather than as cash, for deferred amounts.