Form 4: B&G Foods CEO Kenneth Keller Jr. Reports Stock Transaction
SEC Form 4 Filing
Kenneth Keller Jr., CEO of B&G Foods, reports the withholding of shares to cover tax obligations upon vesting of restricted stock.
Summary
- On June 14, 2024, Kenneth C. Keller Jr., the President & CEO of B&G Foods, Inc., had 1,171 shares of common stock withheld to satisfy tax obligations.
- This was due to the vesting of 2,376 shares of restricted stock granted on June 14, 2021, under the company's Omnibus Incentive Compensation Plan.
- Following the transaction, Keller directly owns 266,088 shares of B&G Foods common stock, which includes shares acquired through a dividend reinvestment plan.
- The price per share for the transaction was $8.39.
Sentiment
Score: 5
Explanation: The sentiment is neutral as the filing is a routine disclosure of a stock transaction related to executive compensation and tax obligations.
Positives
- The vesting of restricted stock indicates a long-term incentive alignment for the CEO with the company's performance.
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 management's alignment with shareholder interests.
Stakeholder Impact
- The transaction has a minimal direct impact on stakeholders, as it primarily reflects internal compensation adjustments.
Key Dates
| Date | Description |
|---|---|
| 06/14/2021 | Date of grant for the restricted stock that vested. |
| 10/31/2023 | Date of dividend reinvestment plan acquisition of 36 shares. |
| 01/31/2024 | Date of dividend reinvestment plan acquisition of 29 shares. |
| 05/01/2024 | Date of dividend reinvestment plan acquisition of 376 shares. |
| 06/14/2024 | Date of stock withholding for tax obligations. |
| 06/18/2024 | Date of Form 4 filing. |
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