Form 4: Berry Global CFO Mark Miles Executes Stock Options and Sells Shares

Berry Global Group's CFO, Mark Miles, exercised stock options and sold shares in multiple transactions on May 14 and 15, 2024.

Summary

• Mark W. Miles, CFO of Berry Global Group, executed employee stock options and sold common stock on May 14 and 15, 2024.
• On May 14, 2024, Miles exercised options to acquire 118,452 shares at $28.75 per share and sold 84,000 shares at a weighted average price of $59.98.
• Following these transactions on May 14, Miles directly owned 118,954 shares of common stock.
• On May 15, 2024, Miles exercised options to acquire 1,548 shares at $28.75 per share and sold 1,118 shares at $60.29.
• Following these transactions on May 15, Miles directly owned 119,384 shares of common stock.
• The options exercised were fully vested and part of employee stock option plans.

Sentiment

Score: 5

Explanation: The sentiment is neutral as it's a standard disclosure of stock option exercises and sales by a company executive. It doesn't inherently indicate positive or negative sentiment about the company's prospects.

Industry Context

This filing is a routine disclosure of insider transactions, which are common for executives who receive stock options as part of their compensation. The market will likely interpret these transactions in the context of the company's overall performance and the CFO's personal financial planning.

Comparison to Industry Standards

• Executive compensation packages often include stock options to align management's interests with those of shareholders.
• Cashless exercises, as performed by Mr. Miles, are a common method for executives to exercise options without needing to provide upfront capital.
• The sale of shares after exercising options is a typical practice for executives to realize the value of their compensation.

Stakeholder Impact

• Shareholders may view these transactions as part of the executive's compensation and financial planning.
• The transactions themselves are unlikely to have a significant impact on the company's operations or financial condition.

Key Dates