Form 4: AMETEK Executive VP William Burke Reports Stock Transactions
SEC Form 4 Filing
Executive VP and CFO of AMETEK, William Joseph Burke, reports the acquisition and disposal of company stock, including transactions related to stock options and tax withholdings.
Summary
- William Joseph Burke, Executive VP and CFO of AMETEK, INC., filed a Form 4 detailing changes in beneficial ownership of the company's stock.
- On March 21, 2024, Burke exercised stock options to acquire 27,400 shares of common stock at a price of $63.37 per share.
- Also on March 21, 2024, Burke sold 27,400 shares at an average price of $185.0502, with prices ranging from $185.00 to $185.22.
- Shares were also withheld on March 21 and 22, 2024 to cover tax obligations, totaling 802 and 609 shares respectively, at prices of $184.91 and $183.15.
- Following these transactions, Burke directly owns 105,903 shares of common stock, as well as 3,253 shares in deferred compensation and 12,523 shares in a supplemental executive retirement plan (SERP).
Sentiment
Score: 5
Explanation: The document is a neutral report of stock transactions. It doesn't convey any positive or negative sentiment about the company's performance or future prospects.
Industry Context
This filing is a routine disclosure of insider transactions, which are common for executives of publicly traded companies. These transactions can be influenced by personal financial planning, diversification strategies, or the exercise of stock options granted as part of their compensation packages.
Comparison to Industry Standards
- Executive compensation packages often include stock options as a way to align management's interests with those of shareholders.
- The exercise and sale of stock options, followed by tax withholding, is a standard practice among publicly traded companies.
- The reported transactions are typical for executives at companies of AMETEK's size and industry.
Stakeholder Impact
- The transactions may have a minor impact on shareholders due to the change in ownership, but the overall effect is likely negligible.
- The transactions do not directly impact employees, customers, suppliers, or creditors.
Key Dates
| Date | Description |
|---|---|
| 03/20/2021 | Stock options became exercisable in three equal annual installments beginning on this date. |
| 03/21/2024 | Date of stock option exercise, stock sale, and tax withholding. |
| 03/22/2024 | Date of additional tax withholding. |
| 03/20/2030 | Expiration date of the stock options. |
| 03/25/2024 | Date of signature on the Form 4 filing. |
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