NOVAES DJALMA JR 4
4 · CROWN HOLDINGS, INC. · Filed Mar 2, 2026
Research Summary
AI-generated summary of this filing
Crown Holdings (CCK) EVP Djalma Novaes Receives Award; Shares Withheld
What Happened Djalma Novaes, EVP & COO of Crown Holdings (CCK), had 1,016 performance-based restricted shares vest on Feb 26, 2026 (grant reported originally Jan 6, 2023). Those shares were issued at $0.00. In connection with the vesting, 2,399 shares were transferred back to the company to satisfy tax withholding obligations at $115.36 per share, totaling about $276,749. The award (A) is an acquisition of shares via vesting; the transfer (F) represents tax withholding, not an open-market sale.
Key Details
- Transaction dates: February 26, 2026 (vesting and tax withholding); Form 4 filed March 2, 2026 (timely).
- Award: 1,016 performance-based restricted shares acquired at $0.00.
- Withholding: 2,399 shares disposed/withheld at $115.36 each; total value ~$276,749.
- Shares owned after transaction: Not specified in the Form 4 filing.
- Footnotes:
- F1: These 1,016 shares are additional performance-based shares from a Jan 6, 2023 grant tied to ROIC performance; the company achieved a 120% payout of the original performance target.
- F2: The 2,399 shares were transferred to Crown to cover tax withholding on the vested shares.
- Transaction codes: A = Award/Grant; F = Tax withholding.
Context This was a routine vesting of performance-restricted stock under a prior grant, with a portion of the vested shares withheld to satisfy tax obligations (cashless withholding). Such withholding transactions are administrative and do not necessarily indicate insider buying or selling intent in the open market.
Insider Transaction Report
- Award
Common
[F1]2026-02-26+1,016→ 89,068 total - Tax Payment
Common
[F2]2026-02-26$115.36/sh−2,399$276,749→ 86,669 total
Footnotes (2)
- [F1]Represents additional performance-based shares of Restricted Common Stock that vested on February 26, 2026 whose grant was originally reported on a Form 4 filed with the Securities and Exchange Commission on January 6, 2023 (the "Original Form 4"). As reported on the Original Form 4, such performance-based shares were originally granted to the Reporting Person based on the Company's Return on Invested Capital achieved by the Company compared to the ROIC target with the final number of performance-based shares varying from 0 to 200% of 5,079. The Return on Invested Capital achieved by the Company compared to the ROIC target yielded a 120% payout. As a result, 1,016 additional performance-based restricted shares were issued.
- [F2]Represents shares transferred to the Company for tax withholding in connection with vesting of restricted stock.