Form 4: BlueLinx Holdings Director J. David Smith Reports Changes in Beneficial Ownership
SEC Form 4 Filing
J. David Smith, a director at BlueLinx Holdings Inc., filed a Form 4 disclosing the conversion of restricted stock units and changes in beneficial ownership.
Summary
- On May 21, 2024, J. David Smith, a director of BlueLinx Holdings Inc., filed a Form 4 with the SEC.
- The report details changes in beneficial ownership of BlueLinx Holdings Inc. common stock.
- On May 18, 2024, 1,561 restricted stock units were converted into common stock.
- Following the reported transactions, Smith directly owns 13,103 shares of common stock.
- Smith also holds various restricted stock units that vest at different dates in the future, with delivery of shares occurring within 30 days of vesting or termination of service on the Board of Directors.
- A Power of Attorney was executed on February 29, 2024, granting Tricia Kinney, Christin Lumpkin, and Brad Resler the authority to act on Smith's behalf for SEC filings related to BlueLinx Holdings Inc.
Sentiment
Score: 5
Explanation: This is a routine regulatory filing, so the sentiment is neutral. It simply reflects changes in ownership.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders.
Comparison to Industry Standards
- Tracking insider transactions is a standard practice in financial analysis to gauge management's sentiment and potential future performance.
- Comparing the vesting schedules and terms of restricted stock units to those of peer companies can provide insights into BlueLinx's compensation practices.
Stakeholder Impact
- Shareholders may be interested in tracking insider transactions as an indicator of management's confidence in the company.
- The vesting of restricted stock units could potentially dilute existing shareholders' equity over time.
Key Dates
| Date | Description |
|---|---|
| 2018-05-18 | Restricted stock units vested on May 18, 2018. |
| 2019-01-11 | Restricted stock units vested on January 11, 2019. |
| 2020-05-17 | Restricted stock units vested on May 17, 2020. |
| 2021-05-21 | The restricted stock united vested on May 21, 2021. |
| 2024-02-29 | Power of Attorney executed. |
| 2024-05-17 | Restricted Stock Units acquired. |
| 2024-05-18 | Restricted stock units converted into common stock. |
| 2024-05-21 | Form 4 filing date. |
| 2027-05-18 | Vested shares will be delivered to the reporting person within 30 days after the earlier of May 18, 2027, or termination of reporting person's service on the Board of Directors. |
| 2028-01-11 | Vested shares will be delivered to the reporting person within 30 days after the earlier of January 11, 2028, or termination of reporting person's service on the Board of Directors. |
| 2029-05-17 | Vested shares will be delivered to the reporting person within 30 days after the earlier of May 17, 2029, or termination of reporting person's service on the Board of Directors. |
| 2030-05-21 | Vested shares will be delivered to the reporting person within 30 days after the earlier of May 21, 2030, or termination of reporting person's service on the Board of Directors. |
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