Comtech (CMTL) director receives 36,620-share restricted stock grant
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Sprung Lloyd A. reported acquisition or exercise transactions in this Form 4 filing.
Comtech Telecommunications Corp. director Lloyd A. Sprung received a grant of 36,620 shares of restricted common stock. These awards were granted under the company’s 2023 Equity and Incentive Plan and will generally vest in full on the earlier of one year after the grant date or the next annual stockholders’ meeting, subject to continued service.
Positive
- None.
Negative
- None.
Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
Sprung Lloyd A.
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock Par Value $0.10 Per Share | 36,620 | $0.00 | -- |
Holdings After Transaction:
Common Stock Par Value $0.10 Per Share — 36,620 shares (Direct)
Footnotes (1)
- Restricted stock awards were granted under the Company's 2023 Equity and Incentive Plan, and represent the right to receive one share of common stock of Comtech Telecommunications Corp. upon vesting. The award will generally vest in full on the earlier of (i) the one-year anniversary of the Grant Date; or (ii) the date of the Company's next annual meeting of stockholders following the Grant Date, provided that such meeting occurs at least fifty (50) weeks after the Company's immediately preceding year's annual meeting of stockholders, in each case, subject to continued service through such vesting date.
FAQ
What insider transaction did Comtech (CMTL) report for Lloyd A. Sprung?
Comtech reported that director Lloyd A. Sprung received a grant of 36,620 restricted shares of common stock. The award was issued at no cash cost as equity compensation under the company’s 2023 Equity and Incentive Plan, subject to vesting conditions tied to time and service.
What type of equity award did Comtech (CMTL) grant to its director?
Comtech granted restricted stock awards that represent the right to receive one share of common stock per unit upon vesting. The grant falls under the 2023 Equity and Incentive Plan and is classified in the filing as a grant, award, or other acquisition transaction.
Is the Comtech (CMTL) Form 4 transaction a market purchase or sale?
The transaction is not a market purchase or sale. It is a grant of restricted stock reported with transaction code A, described as a grant, award, or other acquisition, with no price per share, reflecting equity compensation rather than trading in the open market.