Form 4: Beacon Roofing Supply Executive Exercises Stock Options, Disposes of Shares to Cover Tax Obligations
SEC Form 4 Filing
Clement Munroe Best III, President of the South Division at Beacon Roofing Supply, exercised stock options and disposed of shares to satisfy tax withholding obligations.
Summary
- On June 3, 2024, Clement Munroe Best III, President of the South Division at Beacon Roofing Supply Inc., exercised restricted stock units (RSUs) converting them into 1,396 shares of common stock.
- Simultaneously, Mr. Best disposed of 405 shares of common stock at a price of $97.12 per share to cover tax obligations related to the RSU exercise.
- Following these transactions, Mr. Best directly owns 69,371 shares of Beacon Roofing Supply Inc.
- He also holds 6,982 Restricted Stock Units.
Sentiment
Score: 5
Explanation: This is a neutral disclosure of insider transactions, with no inherent positive or negative implications for the company's performance.
Future Outlook
The remaining half of the shares subject to the performance period ending 03/31/2024 will vest on 3/31/2026.
Industry Context
This Form 4 filing is a routine disclosure related to insider transactions and provides transparency to investors regarding the actions of company executives.
Stakeholder Impact
- The transaction has a minimal impact on shareholders as it is a routine insider transaction.
Key Dates
| Date | Description |
|---|---|
| 03/10/2022 | Start date for performance periods related to restricted stock units. |
| 03/31/2024 | End date for the first performance period related to restricted stock units. |
| 06/03/2024 | Date of the transaction: exercise of RSUs and disposal of shares. |
| 06/05/2024 | Date of signature on the Form 4. |
| 03/31/2025 | End date for the second performance period related to restricted stock units. |
| 03/31/2026 | End date for the third and fourth performance periods related to restricted stock units; also, vesting date for remaining shares from the first performance period. |
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.