Form 4: Albany International Corp. Director Higgins Reports Changes in Beneficial Ownership
SEC Form 4 Filing
Director Andrew William Higgins reports changes in beneficial ownership of Albany International Corp. stock due to a performance bonus award and subsequent tax withholding.
Summary
- On March 1, 2024, Andrew William Higgins, a director of Albany International Corp., acquired 21,202 shares of Class A Common Stock through a Multi-Year Performance Bonus Award.
- These shares were awarded under the Albany International Corp. 2017 Incentive Plan.
- On the same day, 8,464 shares were withheld to cover tax liabilities related to the bonus award at a price of $93.85 per share.
- Following these transactions, Higgins directly owns 66,028 shares of Class A Common Stock.
Sentiment
Score: 6
Explanation: The sentiment is neutral as it reflects a standard transaction related to executive compensation. The acquisition of shares through a bonus is generally positive, but the subsequent tax withholding is a normal occurrence.
Positives
- The acquisition of shares through a performance bonus suggests the company recognizes and rewards Higgins' contributions.
Industry Context
Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to investors.
Key Dates
| Date | Description |
|---|---|
| December 2, 2023 | Date of Power of Attorney authorization for signing SEC Forms 3, 4, and 5, and Form 144. |
| March 1, 2024 | Date of transaction: acquisition of shares via performance bonus and withholding for tax liability. |
| March 4, 2024 | Date of signature on the Form 4 filing. |
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.