Form 4: Beacon Roofing Supply VP Exercises Stock Options, Disposes of Shares to Cover Tax Obligations
SEC Form 4
Sam Guzman, VP & CAO of Beacon Roofing Supply, exercised restricted stock units and disposed of shares to cover tax obligations on June 3, 2024.
Summary
- On June 3, 2024, Sam Guzman, VP & CAO of Beacon Roofing Supply Inc., exercised restricted stock units (RSUs) converting them into 233 shares of common stock.
- Guzman also disposed of 71 shares of common stock to satisfy tax withholding obligations related to the RSU exercise at a price of $97.12 per share.
- Following these transactions, Guzman directly owns 5,713 shares of Beacon Roofing Supply Inc. common stock and 1,161 restricted stock units.
Sentiment
Score: 5
Explanation: The document reflects a neutral sentiment as it reports routine insider transactions related to stock options and tax obligations.
Future Outlook
The remaining restricted stock units will vest based on the achievement of future stock price targets and on March 31, 2026.
Industry Context
This is a routine filing related to insider transactions and is typical for executives holding stock options or restricted stock units in publicly traded companies.
Stakeholder Impact
- The transaction has a minimal impact on shareholders as it involves a small number of shares being traded by an executive.
Key Dates
| Date | Description |
|---|---|
| 03/10/2022 | Start date for performance periods related to restricted stock units. |
| 03/31/2024 | End date for one of the performance periods 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 for the Form 4 filing. |
| 03/31/2025 | End date for one of the performance periods related to restricted stock units. |
| 03/31/2026 | End date for two of the performance periods related to restricted stock units, and vesting date for remaining shares subject to performance periods. |
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