Form 4: Advance Auto Parts CFO Sells Shares for Tax

Advance Auto Parts' EVP and CFO, Ryan P. Grimsland, disposed of 3,597 shares of common stock to cover tax liabilities upon the vesting of restricted stock units.

Summary

• Ryan P. Grimsland, Executive Vice President and Chief Financial Officer of Advance Auto Parts Inc. (AAP), reported a transaction.
• The transaction involved the disposition of 3,597 shares of common stock.
• These shares were withheld to satisfy tax obligations upon the vesting of time-based restricted stock units (RSUs).
• The disposition occurred at a price of $52.5 per share.
• Following this transaction, Ryan P. Grimsland beneficially owns 52,902 shares of common stock.
• The restricted stock units were originally granted on December 4, 2023, and vest in three equal annual installments, starting one year from the grant date.

Sentiment

Score: 5

Explanation: The transaction is a routine tax-related disposition of shares upon vesting of restricted stock units, which is a common and expected event for executive compensation and does not reflect a discretionary sale or change in sentiment.

Stakeholder Impact

• Minimal direct impact on shareholders as this is a routine tax-related transaction, not a discretionary sale by management.

Key Dates

Recommendation

The filing details a routine disposition of shares by an executive to cover tax obligations upon the vesting of restricted stock units. This is a standard practice and does not indicate a change in the executive's confidence in the company or its future prospects. As such, it provides no new fundamental information to alter an existing investment thesis.

Keywords

Advance Auto Parts, AAP, Form 4, insider transaction, stock disposition, CFO, Ryan P. Grimsland, restricted stock units, RSU, tax withholding