He’s purchased over $2 million in Truist stock over the last 2 months. Take with that what you will
4 replies (most recent on top)
Truist allows unvested RSUs and restricted shares to count toward the CEO's ownership requirement, as long as they haven't been forfeited. So the CEO doesn't necessarily have to purchase or fully vest in all the shares to receive ownership credit.
@fb I didn’t know that, thanks. Would that include options/grants/deferred shares, or does it have to be outright ownership?
Truist requires the CEO to own company stock valued at six times their annual base salary. This is intended to align the CEOs financial interests with those of shareholders and encourage a focus on the company's long-term performance. Certain stock awards count toward the requirement, but not everything does. Im ok with this and should be too. Why? Because it shows Truist wants its CEO to have significant personal skin in the game.
Is this before or after he gave HFJ a raise to buy a boat for them to vacation on?