Form 4: Advance Auto Parts Executive Sells Shares to Cover Tax Obligations
SEC Form 4 Filing
Herman L. Word Jr., an EVP at Advance Auto Parts, disposed of 40 shares of common stock to cover tax obligations related to vesting restricted stock units.
Summary
- On March 8, 2024, Herman L. Word Jr., an Executive Vice President at Advance Auto Parts, disposed of 40 shares of common stock.
- The transaction was executed to satisfy tax obligations related to the vesting of time-based restricted stock units.
- The shares were sold at a price of $73.08 per share.
- Following the transaction, Word directly owns 8,377 shares of Advance Auto Parts stock.
Sentiment
Score: 5
Explanation: This is a routine transaction to cover tax obligations, so it has a neutral sentiment.
Industry Context
Insider transactions are routinely monitored and reported to the SEC. Disposals to cover tax obligations are common and don't necessarily indicate a negative outlook on the company.
Key Dates
| Date | Description |
|---|---|
| 03/08/2021 | Date of grant for the time-based restricted stock units that vested. |
| 03/08/2024 | Date of transaction: Disposal of shares to cover tax obligations. |
| 03/12/2024 | Date of signature on the Form 4 filing. |
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