SUMME GREGORY L 4
Research Summary
AI-generated summary
NXP (NXPI) Director Gregory L. Summe Exercises RSUs and Has Shares Withheld
What Happened
- Gregory L. Summe, a director of NXP Semiconductors (NXPI), had restricted stock units (RSUs) convert/exercise on June 10, 2026. A total of 1,035 RSUs were converted into common shares. To satisfy tax withholding, 513 of those shares were surrendered/disposed at $297.41 per share, totaling $152,571. The filing also shows a new grant of 841 RSUs to Summe on the same date.
Key Details
- Transaction dates: June 10, 2026; Form filed June 12, 2026 (appears timely).
- Conversions/exercises: 1,035 RSUs converted (report shows acquisition of shares from derivative conversion).
- Tax withholding: 513 shares withheld/disposed at $297.41 each for $152,571 (code F).
- New award: 841 RSUs granted (code A) — see footnote on vesting schedule.
- Footnotes: RSUs represent the conditional right to one share (F1, F3). Vesting schedules cited: earlier of first anniversary of grant and next annual shareholders’ meeting (F2, F4).
- Shares owned after the transactions are not specified in the provided data.
Context
- This appears to be a routine RSU vesting/conversion with a share-for-tax withholding rather than an open-market sale or purchase. The withholding (code F) is a common way to cover tax obligations on vested RSUs (a cashless settlement), and a new RSU grant (code A) was also reported. These actions are administrative and do not necessarily signal a change in the director’s market view.