Form 4: Advance Auto Parts Executive Sells Shares to Cover Tax Obligations
SEC Filing
Herman L. Word Jr., an executive at Advance Auto Parts, sold shares to cover tax obligations related to vesting restricted stock units.
Summary
- Herman L. Word Jr., an EVP at Advance Auto Parts, filed a Form 4 on March 10, 2025, reporting a transaction that occurred on March 6, 2025.
- The transaction involved the disposition of 241 shares of common stock at a price of $33.63 per share.
- These shares were withheld to satisfy tax obligations related to the vesting of time-based restricted stock units granted on March 6, 2023, which vest in three equal annual installments beginning on the one-year anniversary of the grant date.
- Following the transaction, Word directly owns 27,899 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 corporate governance, providing transparency into the transactions of company insiders. This transaction is related to tax obligations from vesting equity, which is a common occurrence.
Key Dates
| Date | Description |
|---|---|
| 03/06/2023 | Grant date of time-based restricted stock units vesting in three equal annual installments. |
| 03/06/2025 | Date of transaction: shares withheld to satisfy taxes at vesting of restricted stock units. |
| 03/10/2025 | Date of Form 4 filing. |
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