Form 4: Beacon Roofing Supply EVP Exercises Stock Options and Disposes of Shares
SEC Form 4 Filing
Christine Reddy, EVP & General Counsel of Beacon Roofing Supply, exercised stock options and disposed of shares to cover tax obligations.
Summary
- On May 11, 2024, Christine Reddy, EVP & General Counsel of Beacon Roofing Supply Inc., exercised 848 restricted stock units (RSUs) that vested on the third anniversary of the grant date.
- These RSUs converted into 848 shares of Beacon Roofing Supply common stock.
- Reddy also disposed of 256 shares of common stock at a price of $92.95 per share to satisfy tax withholding obligations.
- Following these transactions, Reddy directly owns 1,691 shares of Beacon Roofing Supply common stock.
Sentiment
Score: 5
Explanation: Neutral sentiment as the document simply reports routine insider transactions related to stock options and tax obligations.
Industry Context
This Form 4 filing is a routine disclosure of insider transactions, providing transparency to investors regarding the actions of company executives. It is a standard practice for executives to exercise stock options and sell shares, often to cover tax liabilities.
Stakeholder Impact
- The transactions have a minimal impact on stakeholders as they represent a small portion of the overall outstanding shares.
Key Dates
| Date | Description |
|---|---|
| 05/11/2021 | Reporting individual was granted restricted stock units which vested and settled on the third anniversary of the grant date. |
| 05/11/2024 | Christine Reddy exercised 848 restricted stock units and disposed of 256 shares. |
| 05/14/2024 | Date of signature for the Form 4 filing. |
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