Form 4: Advanced Drainage Systems Executive Sells Shares to Cover Tax Obligations
SEC Form 4 Filing
Robert M. Klein, EVP of Sales at Advanced Drainage Systems, sold shares to cover tax obligations related to vesting restricted stock.
Summary
- Robert M. Klein, an EVP at Advanced Drainage Systems, Inc. (WMS), reported changes in beneficial ownership.
- On May 18 and 19, 2024, Klein disposed of 105 and 82 shares of common stock, respectively, to satisfy tax obligations.
- The shares were withheld at a price of $174.13.
- Following these transactions, Klein still directly owns 102,200 shares of Advanced Drainage Systems, Inc.
Sentiment
Score: 6
Explanation: The document is a routine Form 4 filing indicating share sales for tax purposes, which is neutral in sentiment.
Industry Context
Executive share sales for tax obligations are a common occurrence and generally don't indicate a negative outlook for the company.
Stakeholder Impact
- The share disposal is unlikely to have a significant impact on shareholders, as it is a small percentage of the total outstanding shares.
Key Dates
| Date | Description |
|---|---|
| 05/18/2024 | Sale of 105 shares of common stock to cover tax obligations. |
| 05/19/2024 | Sale of 82 shares of common stock to cover tax obligations. |
| 05/21/2024 | Date of signature for the Form 4 filing. |
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