In a recent transaction, Peter Migliorini, a board director at Steven Madden , Ltd. (NASDAQ: SHOO ), received a restricted stock grant as part of the company's incentive plan. The stock award, dated May 22, 2024, consisted of 2,906 shares of common stock.
This transaction was reported in compliance with SEC regulations. The shares granted to Migliorini are part of the Steven Madden, Ltd. 2019 Incentive Compensation Plan and are subject to vesting conditions.
According to the terms outlined, the awarded shares will vest on May 20, 2025, and until then, they will be subject to forfeiture if certain conditions are not met. Following this transaction, Migliorini's ownership in the company has increased to a total of 19,006 shares of common stock. It's important to note that the shares were granted at no cost to the director, reflecting the nature of restricted stock grants which are typically awarded to executives and directors as a form of incentive compensation.
These grants are designed to align the interests of the company's leadership with those of the shareholders by providing an incentive to enhance company performance. Investors often keep a close eye on insider transactions as they can provide insights into the company's performance and management's expectations. The recent grant to Migliorini may be seen as a vote of confidence in the future of Steven Madden, Ltd.
, a leading designer and marketer of fashion footwear and accessories. The transaction was formally document.
