Form 4: ArcBest Corp Executive Newcity Sells Shares to Cover Tax Obligations

Michael E. Newcity, SVP and Chief Innovation Officer of ArcBest Corp, sold shares on May 11th and 12th, 2024, to cover tax obligations.

Summary

• Michael E. Newcity, a Senior Vice President and Chief Innovation Officer at ArcBest Corp, reported changes in beneficial ownership of the company's stock.
• On May 11, 2024, Newcity disposed of 1,356 shares of common stock at a price of $117.4 per share to cover tax obligations.
• Following this transaction, Newcity directly owned 21,313 shares.
• On May 12, 2024, Newcity disposed of 5,819 shares of common stock at a price of $117.4 per share to cover tax obligations.
• Following this transaction, Newcity directly owned 15,494 shares.

Sentiment

Score: 5

Explanation: The document is a standard SEC filing detailing stock transactions by an executive. It doesn't inherently convey positive or negative sentiment, as it's a routine disclosure.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the trading activities of company insiders. These filings are closely watched by investors seeking insights into management's perspective on the company's stock.

Stakeholder Impact

• The sale of shares by an executive could be perceived negatively by some shareholders, although sales to cover tax obligations are common and generally not indicative of a lack of confidence in the company.

Key Dates