4//SEC Filing
STROBEL STEVEN J 4
Accession 0000814453-20-000170
CIK 0000814453other
Filed
May 12, 8:00 PM ET
Accepted
May 13, 4:35 PM ET
Size
8.5 KB
Accession
0000814453-20-000170
Insider Transaction Report
Form 4
STROBEL STEVEN J
Director
Transactions
- Award
Deferred RSU phantom stock
2020-05-11+12,053→ 12,053 total→ Common Stock (12,053 underlying)
Footnotes (8)
- [F1]On the transaction date (the "RSU Grant Date"), the reporting person received an award of 12,053 restricted stock units ("RSUs"), which, pursuant to his grant agreement with the Company, is scheduled to vest on the earlier of: (i) the first anniversary of the date of the RSU Grant Date; or (ii) the date immediately preceding the date of the Company's 2021 annual meeting of its stockholders (as applicable, the "RSU Vesting Date"), provided he remains in continuous service on the Board until such date. Pursuant to the grant agreement, the award may vest as common stock of the Company, on a one-for-one basis, earlier than the RSU Vesting Date in the event of the death, disability or retirement of the reporting person.
- [F2]Pursuant to the Company's 2008 Deferred Compensation Plan, as amended (the "DCP"), the reporting person elected to defer vesting of the RSUs as shares until the end of his service on the Company's Board. As a result, on the RSU Vesting Date, the reporting person will receive, in lieu of shares: (i) 12,053 phantom stock units and (ii) cash equal to the value of dividends paid on 12,053 shares of the Company's Common Stock between the RSU Grant Date and the RSU Vesting Date.
- [F3]The phantom stock units received on the RSU Vesting Date will be settled after the end of the reporting person's service on the Board of the Company on a one-for-one basis for shares of the Company's Common Stock.
- [F4]During the deferral period, additional phantom stock units will continue to accrue pursuant to a dividend reinvestment feature of the DCP. At the end of the deferral period, the reporting person will also have the right to receive the cash equivalent of the additional phantom stock units accrued.
- [F5]Before the RSU Vesting Date, each RSU represents a contingent right to receive one phantom stock unit. On and after the RSU Vesting Date, each phantom stock unit will represent the right to receive one share of Common Stock of the Company at the end of the deferral period.
- [F6]The RSUs will be exchanged for an equal number of phantom stock units on the RSU Vesting Date.
- [F7]The 12,053 phantom stock units acquired on the RSU Vesting Date will be settled on a one-for-one basis for shares of the Company's Common Stock after the end of the reporting person's service on the Board. On the settlement date, all additional phantom stock units acquired during the deferral period through reinvested dividends will also be payable to the reporting person in cash. The cash value will be calculated based on the closing stock price for the Company's Common Stock on the settlement date.
- [F8]N/A
Documents
Issuer
NEWELL BRANDS INC.
CIK 0000814453
Entity typeother
Related Parties
1- filerCIK 0001237657
Filing Metadata
- Form type
- 4
- Filed
- May 12, 8:00 PM ET
- Accepted
- May 13, 4:35 PM ET
- Size
- 8.5 KB