Form 4: ArcBest Corp Executive Steven Leonard Reports Stock Disposals to Cover Tax Obligations
SEC Form 4
Steven Leonard, a top executive at ArcBest Corp, disposed of shares to cover tax obligations arising from vesting restricted stock units.
Summary
- On May 11 and 12, 2024, Steven Carrol Leonard, Chief Commercial Officer and President, Asset-Light Logistics at ArcBest Corp, disposed of shares of common stock to cover tax obligations.
- The transactions involved the disposal of 1,006 shares on May 11 and 4,288 shares on May 12, both at a price of $117.4 per share.
- Following these transactions, Leonard directly owns 26,653 shares of ArcBest Corp common stock.
Sentiment
Score: 5
Explanation: The sentiment is neutral as the filing simply reports stock disposals for tax purposes, a routine financial activity.
Industry Context
Executive stock disposals to cover tax obligations are a common practice, especially after the vesting of restricted stock units. This filing provides transparency into the transactions of a key executive at ArcBest Corp.
Stakeholder Impact
- The stock disposal may have a minor impact on shareholders due to the increased supply of shares in the market, but it is unlikely to be significant given the relatively small number of shares involved.
Key Dates
| Date | Description |
|---|---|
| 05/11/2024 | Disposal of 1,006 shares of common stock at $117.4 per share. |
| 05/12/2024 | Disposal of 4,288 shares of common stock at $117.4 per share. |
| 05/14/2024 | Date of signature for the Form 4 filing. |
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