Form 4: Astec Industries Director Patrick Shannon Acquires Dividend Equivalents
SEC Form 4 Filing
Director Patrick Shannon of Astec Industries acquired dividend equivalents on previously granted Restricted Stock Units (RSUs) on March 29, 2024.
Summary
- On March 29, 2024, Patrick S Shannon, a director of Astec Industries Inc., acquired 2 shares of common stock representing dividend equivalents earned on prior RSU grant awards.
- The transaction was reported on a Form 4 filed with the SEC on April 2, 2024.
- The price per share for the dividend equivalents was $0.00.
- Following the transaction, Shannon directly owns 841 shares of Astec Industries Inc. common stock.
Sentiment
Score: 5
Explanation: Neutral sentiment as it's a routine transaction related to executive compensation.
Positives
- The acquisition of dividend equivalents increases the director's stake in the company, aligning his interests with those of shareholders.
Industry Context
This is a routine disclosure related to insider transactions and doesn't necessarily reflect a significant trend in the industry.
Stakeholder Impact
- The transaction has a minimal impact on stakeholders as it involves a small number of shares related to executive compensation.
Key Dates
| Date | Description |
|---|---|
| 03/25/2024 | Date of Power of Attorney execution. |
| 03/29/2024 | Date of transaction: acquisition of dividend equivalents. |
| 04/02/2024 | Date Form 4 was filed with the SEC. |
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