SEACOR Marine (NYSE: SMHI) SVP converts PRSUs into common stock
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
SEACOR Marine Holdings Inc. senior vice president and chief accounting officer Gregory Scott Rossmiller exercised performance restricted stock units that converted into 3,719 shares of Common Stock on a one-for-one basis. These shares relate to one earned tranche from a 2023 PRSU grant.
To satisfy tax obligations, 1,464 Common Stock shares were withheld at $7.31 per share, a non‑market disposition coded as tax payment rather than an open‑market sale. After these transactions, Rossmiller directly holds 294,741 Common Stock shares. The remaining 2023 PRSUs that did not meet performance conditions were forfeited.
Positive
- None.
Negative
- None.
Insider Trade Summary
3,719 shares exercised/converted
Mixed
3 txns
Insider
Rossmiller Gregory Scott
Role
SVP & CAO
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Performance Restricted Stock Units | 3,719 | $0.00 | -- |
| Exercise | Common Stock | 3,719 | $0.00 | -- |
| Tax Withholding | Common Stock | 1,464 | $7.31 | $11K |
Holdings After Transaction:
Performance Restricted Stock Units — 0 shares (Direct);
Common Stock — 296,205 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 18,595 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 did SEACOR Marine (SMHI) insider Gregory Scott Rossmiller do in this Form 4?
Gregory Scott Rossmiller exercised performance restricted stock units into 3,719 SEACOR Marine common shares. A portion of these shares was then withheld to cover taxes, leaving him with 294,741 directly held shares after the reported transactions.
What were the terms of the 2023 SEACOR Marine (SMHI) performance RSUs granted to Rossmiller?
In 2023, Rossmiller received 18,595 performance RSUs split into five tranches with specific stock price goals between $11.61 and $18.22. Only one tranche satisfied both performance and service-based vesting conditions; the remaining unearned PRSUs from this grant were forfeited.