Form 4: Allison Transmission Executive Dana Pittard Reports Stock Transactions
SEC Form 4
Dana Pittard, VP of Defense Programs at Allison Transmission Holdings, reported the acquisition and disposal of company stock and derivative securities on February 23, 2024, according to a Form 4 filing.
Summary
- On February 23, 2024, Dana Pittard, VP of Defense Programs at Allison Transmission Holdings, reported transactions involving the company's stock.
- These transactions included the settlement of 895 restricted stock units (RSUs) and 34 dividend equivalent rights (DERs).
- Pittard also exercised an option to purchase 2,686 shares of common stock at a price of $39.42.
- A total of 2,686 shares were sold at $72.84 to cover the option exercise.
- 414 shares were withheld by Allison Transmission to satisfy tax obligations related to the vesting of RSUs and DERs.
- Following these transactions, Pittard directly owns 5,143 shares of common stock and indirectly owns 13,404 shares through the Pittard Living Trust.
- Pittard also directly owns 896 Restricted Stock Units, 63 Dividend Equivalent Rights, and options to purchase 2,686 shares.
- The sale of shares was executed under a pre-arranged Rule 10b5-1 trading plan adopted on November 1, 2023.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing stock transactions, with no inherent positive or negative sentiment.
Industry Context
This filing is a routine disclosure of stock transactions by a company executive, which is common practice for publicly traded companies. It provides transparency into the trading activities of insiders.
Stakeholder Impact
- The transactions may have a minor impact on shareholders due to the change in ownership by an executive.
- The withholding of shares for tax obligations affects the executive's net compensation.
Key Dates
| Date | Description |
|---|---|
| 11/01/2023 | Date of adoption of Rule 10b5-1 trading plan |
| 02/23/2022 | Date of grant of restricted stock units |
| 02/23/2023 | First vesting date of the employee stock option |
| 02/23/2024 | Date of reported transactions (settlement of RSUs and DERs, exercise of stock options, sale of shares) |
| 02/23/2032 | Expiration date of the employee stock option |
| 02/27/2024 | Date of signature on the Form 4 filing |
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