SEACOR Marine (SMHI) counsel vests 3,984 PRSUs, 2,038 shares withheld
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
SEACOR Marine Holdings Inc. senior vice president, general counsel and secretary Andrew H. Everett II exercised 3,984 performance restricted stock units, converting them into the same number of common shares. Of these, 2,038 shares were withheld at $7.31 per share to cover tax obligations, leaving him with 293,595 directly held shares. The vested units represented one earned tranche from a 19,920-unit 2023 performance grant, while the remaining 2023 performance units were forfeited.
Positive
- None.
Negative
- None.
Insider Trade Summary
3,984 shares exercised/converted
Mixed
3 txns
Insider
Everett Andrew H II
Role
Sr. VP, General Counsel & Secy
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Performance Restricted Stock Units | 3,984 | $0.00 | -- |
| Exercise | Common Stock | 3,984 | $0.00 | -- |
| Tax Withholding | Common Stock | 2,038 | $7.31 | $15K |
Holdings After Transaction:
Performance Restricted Stock Units — 0 shares (Direct);
Common Stock — 295,633 shares (Direct)
Footnotes (1)
- Performance restricted stock units ("PRSUs") convert into shares of Common Stock on a one-for-one basis. On 3/7/23, the Reporting Person was granted 19,920 PRSUs ("2023 PRSUs") consisting of five equal tranches, each of which would be earned if and when the closing price of one share of Common Stock equals or exceeds the specified stock price performance goal for such tranche for 60 consecutive trading days during the three year performance period beginning on the grant date, provided that any earned PRSUs would not be settled until the third anniversary of the grant date, subject to satisfaction of the service-based vesting requirements set forth in the award agreement. The specified stock price performance goals for each tranche were $11.61, $13.21, $14.91, $16.62 and $18.22, respectively. The service-based vesting requirements and one of the specified stock price performance goals were satisfied during the performance period ending 3/7/26, and the shares of Common Stock were issued at such date with respect to one tranche of the 2023 PRSUs. The remaining 2023 PRSUs were forfeited.
FAQ
What insider transaction did SEACOR Marine (SMHI) report for Andrew H. Everett II?
SEACOR Marine reported that Andrew H. Everett II exercised 3,984 performance restricted stock units into common shares. This reflects vesting of a performance-based award rather than an open-market share purchase or sale, and is part of his equity compensation package.
What are the key terms of the 2023 performance restricted stock units for SEACOR Marine (SMHI)?
The 2023 grant covered 19,920 performance restricted stock units divided into five equal tranches. Each tranche could be earned if specified stock price goals were met for 60 consecutive trading days within a three-year period, alongside additional service-based vesting conditions.
How many 2023 performance RSUs for SEACOR Marine (SMHI) ultimately vested for Andrew H. Everett II?
One tranche of the 2023 performance restricted stock units vested, resulting in issuance of 3,984 common shares on the third anniversary of the grant. The remaining performance units from the original 19,920-unit grant did not meet conditions during the performance period and were forfeited.
What stock price performance goals applied to SEACOR Marine (SMHI) 2023 PRSU tranches?
The 2023 performance RSUs had five stock price hurdles: $11.61, $13.21, $14.91, $16.62 and $18.22 per share. Each tranche required the closing price to meet or exceed its goal for 60 consecutive trading days within the three-year performance period to be earned.