Taylor Morrison (TMHC) CEO reports new stock awards, vesting and tax share withholdings
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Taylor Morrison Home Corp Chairman, President and CEO Sheryl Palmer reported multiple equity award events on Common Stock and units tied to the stock. She acquired 15,227 shares of Common Stock through the settlement of restricted stock units and 70,102 shares through the vesting and settlement of performance-based restricted stock units, with corresponding derivative units exercised or settled.
She also received new grants of 70,102 performance-based restricted stock units and 56,239 restricted stock units at no cash cost. The company withheld 6,373 and 29,339 shares of Common Stock at $66.68 per share to cover tax obligations on vesting awards. After these transactions, Palmer holds 444,304 shares of Common Stock directly and 19,211 shares indirectly through a trust, along with outstanding RSU and PSU awards that generally vest over future dates subject to conditions.
Positive
- None.
Negative
- None.
Insider Trade Summary
85,329 shares exercised/converted
Mixed
9 txns
Insider
Palmer Sheryl
Role
Chairman, President and CEO
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units | 15,227 | $0.00 | -- |
| Grant/Award | Performance-based restricted stock units | 70,102 | $0.00 | -- |
| Exercise | Performance-based restricted stock units | 70,102 | $0.00 | -- |
| Grant/Award | Restricted Stock Units | 56,239 | $0.00 | -- |
| Exercise | Common Stock | 15,227 | $0.00 | -- |
| Tax Withholding | Common Stock | 6,373 | $66.68 | $425K |
| Grant/Award | Common Stock | 70,102 | $0.00 | -- |
| Tax Withholding | Common Stock | 29,339 | $66.68 | $1.96M |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Restricted Stock Units — 15,227 shares (Direct);
Performance-based restricted stock units — 70,102 shares (Direct);
Common Stock — 409,914 shares (Direct);
Common Stock — 19,211 shares (Indirect, By Trust)
Footnotes (1)
- Represents settlement of restricted stock units ("RSUs") through the issuance of one share of Common Stock for each vested RSU. Represents shares of Common Stock withheld by the Issuer to cover tax withholding obligations upon the vesting of RSUs. Represents the vesting and settlement of performance-based vesting restricted stock units ("PSUs") granted by the Issuer on February 21, 2023 under Issuer's 2013 Omnibus Equity Award Plan, as amended. Upon vesting, each PSU is settled in a share of the Issuer's Common Stock. Represents shares of Common Stock withheld by the Issuer to cover tax withholding obligations upon the vesting of PSUs. Held by Sheryl D. Palmer Trust, established October 4, 2019, of which the Reporting Person is a trustee and sole beneficiary. On February 23, 2024, the Reporting Person was granted 45,680 RSUs, generally vesting in three installments of approximately 33 1/3% on each of February 23, 2025, February 23, 2026 and February 23, 2027. The RSUs were granted to the Reporting Person pursuant to the Taylor Morrison 2013 Omnibus Equity Award Plan, as amended. On February 21, 2023 the Reporting Person received a grant of PSUs representing 69,066 shares of the Issuer's Common Stock (at target), half of which vest based on the Issuer's return on net assets ("RONA") and a relative total shareholder return ("TSR") modifier, and half of which vest based on the Company's revenue and a relative TSR modifier. The PSUs cliff vest at the end of a three year performance cycle, generally subject to the Reporting Person's continued employment through the date the compensation committee determines and certifies the applicable level of performance achieved for the fiscal 2025 tranche. The compensation committee determined that the objectives for the fiscal 2025 tranche were achieved at a level resulting in 70,102 PSUs being earned by the Reporting Person on February 23, 2026, subject to satisfaction of the vesting conditions for such grant. Each RSU represents a contingent right to receive one share of Common Stock. Subject to certain conditions, the RSUs will generally vest in three installments of approximately 33 1/3% on each of February 23, 2027, February 23, 2028 and February 13, 2029.
FAQ
What did TMHC CEO Sheryl Palmer report in this Form 4 filing?
Sheryl Palmer reported vesting and settlement of restricted stock units and performance-based units, new equity grants, and share withholdings for taxes. These transactions increased her direct and indirect holdings of Taylor Morrison Common Stock while satisfying tax obligations tied to the equity awards.
What performance-based awards did Sheryl Palmer report in this TMHC Form 4?
Palmer reported performance-based restricted stock units tied to metrics such as return on net assets, revenue, and relative total shareholder return. The compensation committee determined performance for a tranche, resulting in 70,102 PSUs being earned and settled into an equal number of Common Stock shares.
What new equity grants did Sheryl Palmer receive from Taylor Morrison (TMHC)?
She received new grants of 70,102 performance-based restricted stock units and 56,239 time-based restricted stock units. Each unit generally represents a contingent right to one share of Common Stock, vesting over future dates if specified service and performance conditions are satisfied.
How are Sheryl Palmer’s indirect Taylor Morrison (TMHC) holdings structured?
Palmer’s indirect holdings comprise 19,211 shares of Common Stock held by the Sheryl D. Palmer Trust. A footnote explains this trust was established in 2019 and that she serves as trustee and sole beneficiary, giving her beneficial ownership of those shares through the trust.
Taylor Morrison Home Corp