Form 4: Apogee Enterprises Director Donald A. Nolan Reports Acquisition of Phantom Stock Units and Deferred Restricted Stock Units

Director Donald A. Nolan reports the acquisition of phantom stock units and deferred restricted stock units through dividend equivalent reinvestment features.

Summary

• On March 28, 2024, Donald A. Nolan, a director of Apogee Enterprises, Inc., acquired 43 phantom stock units and 101 deferred restricted stock units.
• These units were allocated under the Deferred Compensation Plan for Non-Employee Directors and the 2009/2019 Non-Employee Director Stock Incentive Plans, respectively.
• The acquisitions were made pursuant to a dividend equivalent reinvestment feature of these plans.
• The phantom stock units and deferred restricted stock units will be settled in shares of common stock following the director's termination from the Board or other specified events.
• Following the reported transactions, Nolan directly owns 10,155 phantom stock units and 23,730 deferred restricted stock units.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. The filing indicates continued investment by a director, which can be seen as a positive sign, but it's a routine transaction.

Positives

• The acquisition of stock units demonstrates the director's continued investment in the company's future.
• Dividend equivalent reinvestment allows for increased equity ownership without direct capital outlay.

Future Outlook

The phantom stock units and deferred restricted stock units will be settled in shares of common stock following the director's termination from the Board in accordance with the election of the reporting person, or following the occurrence of other events specified in the Plan.

Industry Context

Form 4 filings are routine disclosures required by the SEC to provide transparency into the transactions of company insiders, allowing investors to track ownership changes and potential alignment of interests.

Stakeholder Impact

• The filing provides transparency to shareholders regarding director stock ownership.
• The transactions have a minimal direct impact on employees, customers, suppliers, or creditors.

Key Dates