Form 4: Belden Inc. CEO Ashish Chand Reports Transaction in Company Stock

Ashish Chand, President and CEO of Belden Inc., reports the exercise of stock appreciation rights and a related transaction involving company stock.

Summary

• On March 6, 2024, Ashish Chand, the President and CEO of Belden Inc., executed a transaction involving Belden's common stock.
• Chand exercised 537 stock appreciation rights (SARs) at a price of $72.57.
• As a result of the SAR exercise, Chand acquired 537 shares and disposed of 44 shares to cover tax withholding obligations.
• The fair market value of the stock on the exercise date was $87.14.
• Following the reported transactions, Chand directly owns 82,978 shares of Belden Inc. common stock.
• Chand also indirectly owns 977.3295 shares through a 401(k) plan.
• The stock appreciation rights were to be automatically exercised on the expiration date if the fair market value exceeded the grant price, but due to incorrect settings in the administrator's systems, the awards were initially cancelled and then corrected.

Sentiment

Score: 6

Explanation: The document is a neutral regulatory filing detailing a stock transaction. The initial system error is a minor concern, but overall, the sentiment is relatively neutral.

Risks

• System errors in the administrator's systems initially caused the cancellation of the stock appreciation rights exercise, which could indicate potential weaknesses in internal controls or administrative processes.

Industry Context

This Form 4 filing is a routine disclosure required by the SEC for corporate insiders, like the CEO, who trade in their company's stock; it provides transparency to the market.

Stakeholder Impact

• The transaction provides transparency to shareholders regarding insider activity.
• The initial system error in the SAR exercise could raise concerns among shareholders about the company's internal controls.

Key Dates