Gropp Chris P 4
Research Summary
AI-generated summary
PHINIA (PHIN) CFO Chris Gropp Receives Restricted Stock Award
What Happened
- Chris P. Gropp, Senior Vice President and Chief Financial Officer of PHINIA Inc. (PHIN), was granted a total of 152 shares of restricted stock on 2026-03-20 (143 shares + 9 shares). Each award shows an acquisition price of $0.00, so no cash was paid for these shares. The transaction is reported as an award/grant (code A).
Key Details
- Transaction date: 2026-03-20; Filing date (Form 4): 2026-03-24 (filed within the SEC two-business-day window).
- Shares acquired: 143 shares and 9 shares (total 152) at $0.00 per share (total reported value $0).
- Reason given (footnote F1): these shares result from automatic reinvestment of dividends on outstanding restricted stock held on the dividend record date.
- Footnote F2: filing references 30,196 shares of restricted stock included in holdings.
- Footnote F3: filing references 1,800 shares of restricted stock; the reporting person disclaims beneficial ownership of those 1,800 shares.
- Transaction code: A = Award/Grant (not a market purchase or sale).
Context
- This was an award via dividend reinvestment (an administrative issuance), not an open-market purchase or a sale. Such dividend reinvestment awards typically reflect plan mechanics rather than a direct trading decision by the insider. The $0 acquisition price simply reflects that dividends were converted into restricted shares rather than paid in cash.