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, sold 56 shares of common stock to cover tax obligations related to vesting restricted stock units.
Summary
- On February 28, 2024, Herman L. Word Jr., an Executive Vice President at Advance Auto Parts, sold 56 shares of the company's common stock.
- The sale was executed to satisfy tax obligations related to the vesting of time-based restricted stock units.
- The price per share was $66.42.
- Following the transaction, Word directly owns 8,648 shares of Advance Auto Parts stock.
Sentiment
Score: 5
Explanation: This is a routine transaction related to tax obligations, so the sentiment is neutral.
Industry Context
Form 4 filings are a routine part of the stock market, providing transparency into the transactions of company insiders. This particular filing reflects a common practice of executives selling shares to cover tax obligations arising from the vesting of stock awards.
Key Dates
| Date | Description |
|---|---|
| 02/28/2022 | Date of grant for the time-based restricted stock units. |
| 02/28/2024 | Date of the transaction (stock sale). |
| 03/01/2024 | Date of signature on the Form 4 filing. |
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