11/04/2025 | Press release | Distributed by Public on 11/04/2025 20:21
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FORM 4
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940 |
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| Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | |||
| Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. | SEC 1474 (9-02) | ||
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1. Title of Derivative Security (Instr. 3) |
2. Conversion or Exercise Price of Derivative Security | 3. Transaction Date (Month/Day/Year) | 3A. Deemed Execution Date, if any (Month/Day/Year) |
4. Transaction Code (Instr. 8) |
5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) |
6. Date Exercisable and Expiration Date (Month/Day/Year) |
7. Title and Amount of Underlying Securities (Instr. 3 and 4) |
8. Price of Derivative Security (Instr. 5) |
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) |
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) |
11. Nature of Indirect Beneficial Ownership (Instr. 4) |
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| Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||||||
| Reporting Owner Name / Address | Relationships | |||
| Director | 10% Owner | Officer | Other | |
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Larrabee Steven P. CHESTNUT RUN PLAZA 730 974 CENTRE ROAD WILMINGTON, DE 19805 |
SVP & CIO | |||
| Paige Fleming by Power of Attorney | 11/04/2025 | |
| **Signature of Reporting Person | Date |
| * | If the form is filed by more than one reporting person, see Instruction 4(b)(v). |
| ** | Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). |
| (1) | On October 31, 2025, in connection with the Issuer's spin-off of its Electronics business (the "Spin-Off"), the People and Compensation Committee (the "Committee") of the Board of Directors of the Issuer approved a modification of the award of 7,962 and 7,451 performance share units ("PSUs") previously granted to the reporting person on May 4, 2023 and February 15, 2024, respectively, which modification is intended to preserve the underlying value of the outstanding PSU awards. As modified, the PSUs were converted into time-based restricted stock units ("RSUs"), with the number of RSUs so converted ("Converted RSUs") determined based on achievement of performance up to the completion of the Spin-Off as determined by the Committee. The Converted RSUs remain subject to the same time-based vesting conditions as those under the original PSU awards. |
| (2) | Includes dividend equivalent units associated with the Converted RSUs. |
| (3) | Includes acquisition of shares pursuant to dividend reinvestment. |
| (4) | Taxes withheld on lapsed RSUs and associated dividend equivalent units. |