Form 4: Advance Auto Parts CFO Sells Shares to Cover Tax Obligations

Ryan P. Grimsland, EVP and CFO of Advance Auto Parts, sold 3,042 shares of common stock to cover tax obligations related to vesting restricted stock units.

Summary

• Ryan P. Grimsland, the Executive Vice President and Chief Financial Officer of Advance Auto Parts, sold 3,042 shares of the company's common stock on December 4, 2024.
• The sale was executed at a price of $44.01 per share.
• This transaction was to cover tax obligations arising from the vesting of restricted stock units.
• The restricted stock units were granted on December 4, 2023, and vest in three equal annual installments starting one year after the grant date.
• Following the transaction, Mr. Grimsland directly owns 30,750 shares of Advance Auto Parts stock.

Sentiment

Score: 5

Explanation: The document reflects a routine transaction related to executive compensation and does not indicate any positive or negative sentiment.

Industry Context

This is a routine transaction for executives who receive stock-based compensation. It is common for executives to sell shares to cover tax obligations when restricted stock units vest.

Comparison to Industry Standards

• Executive stock sales to cover tax obligations are a common practice across publicly traded companies.
• Many companies use restricted stock units as part of their executive compensation packages, and the vesting schedules often trigger tax liabilities.
• Similar transactions are regularly reported by executives at companies like AutoZone and O'Reilly Automotive.

Stakeholder Impact

• The transaction has a minimal impact on shareholders as it is a routine sale to cover tax obligations.

Key Dates

Keywords

Advance Auto Parts, Ryan P. Grimsland, CFO, stock sale, restricted stock units, tax obligations, insider trading, Form 4