Form 4: Bank of New York Mellon CFO McDonogh Reports Stock Disposal for Tax Obligations

Dermot McDonogh, CFO of Bank of New York Mellon, disposed of 5,109 shares of common stock on February 28, 2024, to cover tax liabilities related to vesting restricted stock units.

Summary

• On February 28, 2024, Dermot McDonogh, the Chief Financial Officer of Bank of New York Mellon Corp [BK], disposed of 5,109 shares of common stock.
• The transaction was executed at a price of $55.64 per share.
• The disposal was related to covering tax liabilities arising from the vesting of previously disclosed Restricted Stock Unit awards.
• Following the transaction, McDonogh directly owns 290,516 shares of Bank of New York Mellon Corp.
• The transaction was reported on March 1, 2024.

Sentiment

Score: 5

Explanation: This is a routine transaction related to tax obligations, and has neutral sentiment.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This transaction is a common occurrence where executives sell shares to cover tax obligations related to vesting equity awards.

Stakeholder Impact

• The transaction has a minimal impact on shareholders as it is a routine sale to cover tax obligations.

Key Dates