Form 4: Advance Auto Parts Executive Sells Shares to Cover Tax Obligations
SEC Form 4 Filing
Stephen Szilagyi, EVP Chief Supply Chain Officer at Advance Auto Parts, disposed of shares to satisfy tax obligations upon vesting of restricted stock units.
Summary
- On March 6, 2024, Stephen Szilagyi, EVP Chief Supply Chain Officer of Advance Auto Parts, disposed of 169 shares of common stock.
- The transaction was executed to cover tax obligations related to the vesting of restricted stock units.
- The price per share was $71.9.
- Following the transaction, Szilagyi directly owns 1,311 shares of Advance Auto Parts common stock.
Sentiment
Score: 5
Explanation: The document reflects a routine transaction (selling shares to cover taxes) and doesn't indicate any significant positive or negative sentiment towards the company's prospects.
Industry Context
Form 4 filings are a routine part of the financial markets, providing transparency into the transactions of company insiders. This particular filing indicates a standard practice of executives selling shares to cover tax liabilities associated with vested stock awards. It doesn't necessarily reflect a change in the executive's confidence in the company.
Key Dates
| Date | Description |
|---|---|
| 03/06/2023 | Date of grant for time-based restricted stock units vesting in three equal annual installments beginning on the one year anniversary of the grant date. |
| 03/06/2024 | Date of transaction: Stephen Szilagyi disposed of shares to cover tax obligations. |
| 03/08/2024 | Date of signature for the Form 4 filing. |
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