Hevert Robert B 4
4 · UNITIL CORP · Filed Jan 29, 2026
Research Summary
AI-generated summary of this filing
Unitil (UTL) President Robert Hevert Receives 9,440 Shares
What Happened
Robert B. Hevert, President & Chief Administrative Officer of Unitil Corporation (UTL), was granted a total of 9,440 shares on January 27, 2026 via awards under the company’s 2003 Stock Plan. The filing lists four award lines: two grants of 3,740 shares each at $0.00 (no cash paid at grant), one grant of 90 shares at $50.00 (value $4,500), and one 1,870-share entry reported as a derivative/contingent award (price N/A). These were awards/grants (Form 4 code A), not open-market purchases or sales.
Key Details
- Transaction date: January 27, 2026; Form 4 filed January 29, 2026 (filed within the typical two-business-day window).
- Award lines: 3,740 shares @ $0.00; 3,740 shares @ $0.00; 90 shares @ $50.00 (total $4,500); 1,870 shares (derivative/contingent, price N/A).
- Shares owned after transaction: not specified in the provided filing details.
- Notable footnotes:
- Some shares are time-based RSU-style awards (vest 25% per year over four years).
- Some shares are performance-based awards that vest after a three-year performance period (including a grant settled at the conclusion of the 2023–2025 performance period).
- Shares are to be valued at current market price on vesting/grant as noted.
- Footnotes also reference prior dividend reinvestment activity and possible future contingent grants through 2028.
- Filing timeliness: Filing appears timely (filed two days after the transactions).
Context
These are compensation awards (time- and performance-based) rather than open-market buys or sales. Such grants are a routine way companies compensate and retain executives and do not, by themselves, indicate the insider is buying stock as a personal investment. Performance-based and contingent awards will only convert to vested shares if specified goals or vesting schedules are met.
Insider Transaction Report
- Award
Common stock, no par value
[F1]2026-01-27+3,740→ 0 total - Award
Common stock, no par value
[F2]2026-01-27+3,740→ 0 total - Award
Common stock, no par value
[F3][F4]2026-01-27$50.00/sh+90$4,500→ 35,465.35 total - Award
Contingent grant of common stock
[F5]2026-01-27+1,870→ 5,120 total→ Common stock (1,870 underlying)
Footnotes (5)
- [F1]Shares were granted pursuant to the Unitil Corporation Third Amended and Restated 2003 Stock Plan. Shares generally will vest 25% per year over four years from date of grant. Shares will be valued at current market price on date of vesting.
- [F2]Shares were granted pursuant to the Unitil Corporation Third Amended and Restated 2003 Stock Plan. Shares generally will vest after three-year performance period based on the attainment of certain performance thresholds of certain performance goals. Shares will be valued at current market price on date of vesting.
- [F3]Shares were granted pursuant to the Unitil Corporation Third Amended and Restated 2003 Stock Plan. Shares were granted at the conclusion of 2023-2025 performance period based on the attainment of certain performance thresholds of certain performance goals. Shares were valued at current market price on date of grant. The balance of the contingent grant for such performance period terminated.
- [F4]Includes 211.965 shares of common stock acquired on February 28, 2025, 224.671 shares of common stock acquired on May 30, 2025, 258.497 shares of common stock acquired on August 28, 2025 and 249.233 shares of common stock acquired on November 28, 2025, in each case resulting from the reinvestment of dividends pursuant to Unitil Corporation's Dividend reinvestment and Stock Purchase Plan.
- [F5]Shares may be granted pursuant to the Unitil Corporation Third Amended and Restated 2003 Stock Plan. Any such shares would be granted after a three-year performance period ending on December 31, 2028, based on the attainment of certain performance thresholds of certain performance goals. Any such shares would be valued at current market price on date of grant.