Latch Grants RSU Awards Under 2021 Plan
The company filed a template grant notice for restricted stock unit awards to participants in its 2021 Incentive Award Plan.
By the FiledFeed automated desk
This summary was generated by AI from the company's SEC filing and may contain errors — always verify against the primary source on SEC.gov.
The short version
Latch, Inc. filed an 8-K on June 17, 2026 disclosing a template restricted stock unit (RSU) grant notice under its 2021 Incentive Award Plan. The filing includes the standard terms and conditions for how RSUs vest, settle, and are subject to tax withholding and forfeiture provisions.
Filing impact
Filing sentiment
Latch, Inc. has filed a form 8-K disclosing the template grant notice and agreement for restricted stock unit (RSU) awards under its 2021 Incentive Award Plan.
What Are RSUs?
A restricted stock unit is a promise to deliver shares (or cash equal to their value) to an employee or contractor once certain conditions are met, typically the passage of time or achievement of performance goals.
Key Terms of the Grant
According to the filing, participants who receive RSUs under this grant notice must accept the award within 90 days of the grant date, or the company may cancel and forfeit it. The specific number of RSUs granted, grant date, vesting schedule, and participant name are left blank in this template document—they are filled in when actual awards are made to individuals.
The RSUs vest according to a vesting schedule specified in each individual grant notice. If a participant leaves the company (with very limited exceptions), all unvested RSUs are automatically canceled and forfeited.
Settlement and Payment
Once RSUs vest, the company has until the 15th day of the third month after the calendar year in which they vest to settle them—that is, to deliver either actual shares or cash payment equal to the share's fair market value. The company may elect to pay in shares or cash.
Participants are responsible for making arrangements to cover the taxes that arise when RSUs vest and settle. The company can withhold shares or delay payment until the participant provides tax withholding arrangements. If the participant fails to do so, the company may forfeit the RSUs entirely.
Other Conditions
The RSUs remain an unsecured company obligation, meaning they are not backed by any dedicated assets—the company will pay only from its general assets if it goes through financial stress. The RSUs are subject to "claw-back" policies, meaning the company can reclaim RSUs or gains from them in certain circumstances, such as misconduct by the employee.
The company also has the right to adjust, modify, or terminate RSUs in response to major corporate events.
Key facts
- Latch, Inc. filed an 8-K on June 17, 2026
- Filing discloses a template restricted stock unit grant notice and agreement
- RSUs are issued under the 2021 Incentive Award Plan
- Participants must accept awards within 90 days of grant date or forfeit
- Unvested RSUs are canceled and forfeited upon termination of employment
- Settlement occurs by the 15th day of the third month following the year in which RSUs vest
- Company may settle in shares or cash at its discretion
- Participants must arrange tax withholding; company may withhold shares or forfeit awards if arrangements are not made
- RSUs represent unsecured company obligations paid from general assets
- RSUs are subject to claw-back policies and may be adjusted or terminated in corporate events
Why it matters
This filing is a routine disclosure of the standard terms under which Latch grants equity awards to employees and contractors. The document is a template—blank spaces are filled in for each individual grant—so the filing itself does not announce any specific awards, amounts, or recipients. For investors, it serves as a reference for understanding the mechanics and conditions of equity compensation at the company, including vesting schedules, settlement timing, and forfeiture provisions. The details matter if you own shares and want to understand the dilution risk from future equity issuances or if you're an employee evaluating a grant offer, but it carries no material news about Latch's business, financial position, or strategy.
Frequently asked
- What is a restricted stock unit (RSU)?
- An RSU is a promise by the company to deliver one share of stock (or equivalent cash value) to a participant once the RSU vests. Until vesting, the participant has no right to the shares or cash.
- When do RSUs become mine, and when do I get paid?
- RSUs vest according to the vesting schedule in your individual grant notice (for example, over four years). Once vested, the company must settle them—deliver shares or cash—by the 15th day of the third month following the calendar year in which they vest.
- What happens to my RSUs if I leave the company?
- All unvested RSUs are immediately canceled and forfeited. Any RSUs that have already vested remain yours, though they may be subject to settlement timing rules.
- Who pays the taxes on RSUs?
- You are responsible for taxes on RSUs. You must arrange for tax withholding with the company before settlement. If you don't, the company can withhold shares or cancel your award to cover the taxes owed.
What the filing reported
- 5.02 Departure/Election of Directors or Officers
- 9.01 Financial Statements & Exhibits
Source
Based on Latch, Inc.'s 8-K filed with the SEC on Jun 17, 2026. Read the original filing on SEC.gov ↗