Form 4: Babcock & Wilcox Enterprises COO Jimmy B. Morgan Reports Stock Transactions

Jimmy B. Morgan, Chief Operating Officer of Babcock & Wilcox Enterprises, reports the vesting of restricted stock units and subsequent tax withholding, resulting in changes to his beneficial ownership of company stock.

Summary

• On July 28, 2024, Jimmy B. Morgan, the Chief Operating Officer of Babcock & Wilcox Enterprises, engaged in transactions involving the company's common stock.
• 33,333 shares of common stock were acquired upon the vesting of restricted stock units (RSUs) at a price of $1.63.
• Simultaneously, 15,249 shares were disposed of to cover tax withholding obligations related to the RSU vesting, also at $1.63.
• Following these transactions, Morgan directly owns 521,912 shares of Babcock & Wilcox Enterprises common stock and 33,334 restricted stock units.
• The RSUs vest in three annual installments beginning July 28, 2023.

Sentiment

Score: 5

Explanation: This is a neutral filing, simply reporting required information about stock transactions. It doesn't inherently indicate positive or negative sentiment.

Industry Context

This filing is a routine disclosure related to executive compensation and stock ownership, common in publicly traded companies. It provides transparency regarding the transactions of company insiders.

Comparison to Industry Standards

• Form 4 filings are standard practice for publicly traded companies in the US, ensuring transparency of insider transactions.
• Companies like General Electric, Siemens Energy, and Mitsubishi Heavy Industries also have executives who regularly file Form 4s related to stock options and RSU vesting.
• The vesting schedule of three annual installments is a common practice for RSU grants.

Stakeholder Impact

• Shareholders are informed about changes in insider ownership.
• Employees holding RSUs are affected by the vesting schedule and tax implications.

Key Dates