March 14, 2024 · Form 4 insider transaction
Grimsland Ryan P bought 5,030 shares of Advance Auto Parts, Inc. at $79.53 per share, a transaction worth $400.0K. The trade was recorded as grant or award and disclosed on an SEC Form 4, filed 4 days after the transaction.
The reported amount of time-based restricted stock units (RSUs) along with performance-based RSUs not reported on this Form 4, collectively, represent 25% and 50% portions, respectively, of a target equity award. The time-based RSUs are subject to time vesting in three approximately equal annual installments beginning one year from the grant date. The performance-based RSUs may vest on the third anniversary of the grant date, if the registrant achieves certain pre-determined financial performance targets, subject to certification by the registrant's Compensation Committee. In addition, if the registrant's financial performance exceeds the target levels, the reporting person may receive additional shares up to a maximum of 200% of the target level grant of performance-based RSUs.