SEACOR Marine (SMHI) CEO nets shares from PRSU vesting and tax withholding
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
SEACOR Marine Holdings Inc. President and CEO John M. Gellert exercised performance restricted stock units that converted into 9,562 shares of Common Stock on a one-for-one basis. These units were part of a 2023 PRSU award, where one performance tranche vested and the remaining PRSUs were forfeited.
To cover tax obligations, 4,193 shares of Common Stock were withheld at $7.31 per share, resulting in a net increase of 5,369 shares in his direct holdings. Following these transactions, Gellert directly holds 1,053,022 shares and has additional indirect interests through entities including JMG Assets, LLC, JMG GST LLC, the Michael E. Gellert 2011 Family Trust, and MCG Assets, LLC.
Positive
- None.
Negative
- None.
Insider Trade Summary
9,562 shares exercised/converted
Mixed
7 txns
Insider
Gellert John M
Role
President and CEO
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Performance Restricted Stock Units | 9,562 | $0.00 | -- |
| Exercise | Common Stock | 9,562 | $0.00 | -- |
| Tax Withholding | Common Stock | 4,193 | $7.31 | $31K |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Performance Restricted Stock Units — 0 shares (Direct);
Common Stock — 1,057,215 shares (Direct);
Common Stock — 109,109 shares (Indirect, JMG Assets, LLC)
Footnotes (1)
- Performance restricted stock units ("PRSUs") convert into shares of Common Stock on a one-for-one basis. The shares reported here are indirectly owned by the Reporting Person through JMG Assets, LLC. The Reporting Person is the manager of JMG Assets, LLC. The shares reported here are indirectly owned by the Reporting Person through JMG GST LLC. The Reporting Person is the manager of JMG GST LLC. The Reporting Person is a co-investment director and beneficiary of the Michael E. Gellert 2011 Family Trust, and of which he disclaims beneficial ownership except to the extent of his pecuniary interest in the shares. The Reporting Person serves as a manager of MCG Assets, LLC and, as such, has the power to direct the voting and disposition of the reported shares. The Reporting Person disclaims beneficial ownership except to the extent of his pecuniary interest in the shares. On 3/7/23, the Reporting Person was granted 47,810 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 John M. Gellert?
SEACOR Marine reported that President and CEO John M. Gellert exercised performance restricted stock units into 9,562 shares of Common Stock. The units came from a 2023 PRSU award where one performance tranche vested and the remaining PRSUs were forfeited.
How were John Gellert’s 2023 PRSUs in SEACOR Marine (SMHI) structured?
On 3/7/23, Gellert received 47,810 PRSUs split into five equal tranches, each tied to specific stock price goals maintained for 60 consecutive trading days. One tranche met its performance and service conditions and settled in shares; the remaining 2023 PRSUs were forfeited.