Gates Industrial (GTES) CAO John Patouhas Receives Award

What Happened
John Patouhas, Chief Accounting Officer of Gates Industrial (GTES), had time‑based restricted stock units (TBRSUs) convert/vest on June 17, 2026. The filing shows 3,333 TBRSUs exercised/converted into shares (transaction code M, reported at $0.00 per share). To satisfy tax and par value obligations, 960 ordinary shares were withheld (transaction code F) at $27.69 per share, totaling $26,582. These transactions reflect vesting and withholding — not an open‑market purchase or sale by the insider.

Key Details

• Transaction date: 2026-06-17; Form 4 filed: 2026-06-22 (filed late relative to the transaction date).
• Entries: M = exercise/conversion of TBRSUs (3,333 shares reported as acquired at $0.00); F = shares withheld for taxes/par value (960 shares @ $27.69 = $26,582).
• Shares owned after transaction: Not specified in the filing.
• Relevant footnotes:
  • F1: TBRSUs vested on the anniversary of the grant date.
  • F2: Ordinary shares were withheld to satisfy par value and tax‑withholding obligations.
  • F3: Each TBRSU is a contingent right to one ordinary share; settlement may be in shares, cash, or a combination.
  • F4: The TBRSUs vest in three substantially equal annual installments; some TBRSUs remain subject to future vesting.
• Nature of transaction: Routine vesting/settlement (not a market buy or intentional sale for investment signaling).

Context

• These entries reflect conversion/settlement of restricted units and share withholding to cover taxes (a common cashless/withholding settlement), not an insider purchase. Such vesting events are routine compensation; they do not necessarily indicate the insider’s view on the company’s stock.