Smithfield Foods (SFD) exec gets RSU award; shares withheld for tax
Filing Impact
Filing Sentiment
Form Type
4/A
Rhea-AI Filing Summary
Smithfield Foods executive Kraig A. Westerbeek, President of Hog Production, reported a routine equity compensation event involving restricted stock units and related tax withholding. He received an award of 34,319 shares of Common Stock in the form of RSUs that will vest in three equal annual installments on the date of grant, March 10, 2027, and March 10, 2028, subject to his continuous service.
To cover tax obligations from RSU vesting, 5,000 shares of Common Stock were withheld by the company at a value of $23.76 per share, and no shares were sold in the market. Following these transactions, he directly holds 52,095 shares of Common Stock.
Positive
- None.
Negative
- None.
Insider Trade Summary
2 transactions reported
Mixed
2 txns
Insider
Westerbeek Kraig A.
Role
President, Hog Production
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock | 34,319 | $0.00 | -- |
| Tax Withholding | Common Stock | 5,000 | $23.76 | $119K |
Holdings After Transaction:
Common Stock — 52,095 shares (Direct, null)
Footnotes (1)
- Represents an award of restricted stock units ("RSUs"). Each RSU represents a contingent right to receive one share of Common Stock. The RSUs will vest in three equal annual installments on the date of grant, March 10, 2027, and March 10, 2028, subject to the Reporting Person's continuous service through such dates. Represents the withholding of shares by the Issuer to satisfy tax withholding obligations in connection with the vesting of RSUs. No shares were sold in the market as a result of the vesting of these RSUs and the satisfaction of tax withholding obligations.
Key Figures
Tax-withheld shares: 5,000 shares at $23.76
RSU award size: 34,319 shares
Post-transaction holdings: 52,095 shares
+2 more
5 metrics
Tax-withheld shares
5,000 shares at $23.76
Shares withheld to satisfy RSU-related tax obligations
RSU award size
34,319 shares
Restricted stock units granted to executive
Post-transaction holdings
52,095 shares
Common Stock directly held after transactions
RSU vesting schedule
Three equal annual installments
Vesting on date of grant, March 10, 2027 and March 10, 2028
Tax-withholding shares count
5,000 shares
Count of shares withheld for tax obligations
Key Terms
restricted stock units, RSUs, tax withholding obligations, vest, +1 more
5 terms
restricted stock units financial
"Represents an award of restricted stock units ("RSUs"). Each RSU represents a contingent right to receive one share"
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
RSUs financial
"Represents an award of restricted stock units ("RSUs"). Each RSU represents a contingent right"
RSUs, or restricted stock units, are a form of company shares given to employees as part of their compensation. They are typically awarded with certain restrictions, such as a waiting period before they can be fully owned or sold, similar to earning a gift that becomes fully yours over time. For investors, RSUs can impact a company's stock offerings and reflect how much the company relies on stock-based incentives to attract and retain talent.
tax withholding obligations financial
"Represents the withholding of shares by the Issuer to satisfy tax withholding obligations in connection with the vesting"
vest financial
"The RSUs will vest in three equal annual installments on the date of grant, March 10, 2027, and March 10, 2028"
A vest is the process by which an employee earns the right to receive certain benefits or ownership interests, such as stock or retirement funds, over time. It’s similar to earning a reward gradually, ensuring that the benefit becomes fully yours only after a set period or meeting specific conditions. This makes it important for investors because it determines when they can actually claim or use those benefits.
continuous service financial
"subject to the Reporting Person's continuous service through such dates"
FAQ
What insider transactions did Smithfield Foods (SFD) report for Kraig A. Westerbeek?
Smithfield Foods reported that Kraig A. Westerbeek received 34,319 restricted stock units and had 5,000 shares withheld to cover taxes. These non-market transactions reflect routine executive compensation and tax withholding rather than open-market buying or selling of shares.
What RSU award did the Smithfield Foods (SFD) executive receive in this filing?
Kraig A. Westerbeek received an award of 34,319 restricted stock units, each representing one share of Common Stock. The RSUs vest in three equal annual installments on the date of grant, March 10, 2027, and March 10, 2028, contingent on his continued service.
How do the RSUs in this Smithfield Foods (SFD) filing vest over time?
The restricted stock units vest in three equal annual installments. Vesting occurs on the date of grant, then on March 10, 2027, and March 10, 2028, provided the reporting person remains in continuous service through each of those vesting dates.