Frontdoor (FTDR) CEO nets additional shares after RSU vesting
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Frontdoor, Inc. CEO William C. Cobb reported routine equity compensation activity involving restricted stock units that convert one-for-one into common shares. On March 25 and March 27, he exercised RSUs covering a total of 67,038 shares of common stock at a price of $0.00 per share. To cover tax liabilities tied to these vestings, 29,230 shares were withheld at prices of $59.25 and $55.84 per share. After these transactions, Cobb directly holds 168,516 shares of common stock and indirectly holds 15,000 shares through the William & Carole Cobb 2000 Trust.
Positive
- None.
Negative
- None.
Insider Trade Summary
67,038 shares exercised/converted
Mixed
7 txns
Insider
COBB WILLIAM C
Role
CEO
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units | 34,696 | $0.00 | -- |
| Exercise | Common Stock | 34,696 | $0.00 | -- |
| Tax Withholding | Common Stock | 15,128 | $55.84 | $845K |
| Exercise | Restricted Stock Units | 32,342 | $0.00 | -- |
| Exercise | Common Stock | 32,342 | $0.00 | -- |
| Tax Withholding | Common Stock | 14,102 | $59.25 | $836K |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Restricted Stock Units — 0 shares (Direct);
Common Stock — 183,644 shares (Direct);
Common Stock — 15,000 shares (Indirect, William & Carole Cobb 2000 Trust)
Footnotes (1)
- Reflects restricted stock units that upon vesting convert into shares of common stock on a one-for-one basis. Reflects shares withheld to cover the Reporting Person's tax liability incident to the vesting of restricted stock units. Each unit is the economic equivalent of one share of the Company's stock. The restricted stock units were granted on March 25, 2024 and vest and settle in three equal installments on March 25, 2025, 2026 and 2027, subject to continued service with the Company.
FAQ
What insider transactions did Frontdoor (FTDR) CEO William C. Cobb report?
William C. Cobb reported exercises of restricted stock units converting into 67,038 shares of common stock at $0.00 per share. Related tax obligations were satisfied by withholding 29,230 shares, rather than open-market sales, as part of standard equity compensation mechanics.
Were Frontdoor (FTDR) CEO William C. Cobb’s recent transactions open-market buys or sells?
The reported transactions were not open-market buys or sells. They reflect exercises of restricted stock units and shares withheld to pay tax liabilities, categorized as derivative exercises and tax-withholding dispositions rather than discretionary purchases or sales in the market.
What do the restricted stock unit conversions mean for Frontdoor (FTDR) CEO compensation?
The conversions show restricted stock units vesting and settling into common shares on a one-for-one basis. This represents previously granted equity compensation becoming actual stock, consistent with the vesting schedule described, and is a standard part of the CEO’s pay structure.
How many restricted stock units did Frontdoor (FTDR) CEO William C. Cobb exercise?
He exercised restricted stock units covering 32,342 underlying shares on March 25 and 34,696 underlying shares on March 27. Each restricted stock unit converts into one share of common stock, with the economic terms described as equivalent to a share of the company’s stock.