Form 4: Advance Auto Parts Executive Bruce Starnes Reports Acquisition and Disposal of Shares

EVP and CMO of Advance Auto Parts, Bruce Starnes, reports acquiring and disposing of common stock and stock options on June 27, 2024.

Summary

• Bruce Starnes, EVP and CMO of Advance Auto Parts, filed a Form 4 detailing changes in beneficial ownership.
• On June 27, 2024, Starnes acquired 20,734 shares of common stock at $62.70 per share.
• Starnes also disposed of 20,734 shares of common stock.
• Additionally, Starnes acquired 9,812 stock options with an exercise price of $62.70, vesting in three equal annual installments beginning June 27, 2025.
• The stock options expire on June 27, 2034.
• The reported amount represents an equity award of time-based restricted stock units (RSUs) that are subject to time vesting in three approximately equal annual installments beginning one year from the grant date.

Sentiment

Score: 5

Explanation: The sentiment is neutral as it's a standard reporting of transactions. The acquisition of options could be seen as slightly positive, but the disposal of shares offsets this.

Positives

• The acquisition of stock options could be seen as a positive sign, aligning the executive's interests with the company's long-term performance.

Industry Context

Form 4 filings are routine disclosures required by the SEC to provide transparency into the transactions of company insiders, allowing investors to track executive compensation and potential alignment with shareholder interests.

Stakeholder Impact

• The transactions may have a minor impact on shareholders by providing insight into executive compensation and potential alignment with company performance.

Key Dates