Form 4: Advance Auto Parts Executive Sells Shares to Cover Tax Obligations
SEC Form 4 Filing
Herman L. Word Jr., an executive at Advance Auto Parts, sold a portion of his common stock to cover tax obligations related to vesting restricted stock units.
Summary
- On March 6, 2024, Herman L. Word Jr., EVP, U.S. Stores & CQ Ind. of Advance Auto Parts Inc., disposed of 231 shares of common stock.
- The transaction was executed to satisfy tax obligations related to the vesting of restricted stock units.
- The price per share was $71.9.
- Following the transaction, Word directly owns 8,417 shares of Advance Auto Parts Inc. common stock.
Sentiment
Score: 5
Explanation: The document describes a routine transaction (selling shares to cover taxes) and doesn't indicate any significant positive or negative sentiment.
Industry Context
Form 4 filings are a routine part of the stock market, providing transparency into the transactions of company insiders. This transaction is a common occurrence where executives sell shares to cover tax obligations related to vesting equity.
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: Sale of 231 shares of common stock to cover tax obligations. |
| 03/08/2024 | Date of signature for the Form 4 filing. |
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