Form 4: BorgWarner EVP Kevin Nowlan Reports Stock Disposals for Tax Obligations
SEC Form 4 Filing
Kevin Nowlan, EVP & Chief Financial Officer of BorgWarner, reports disposals of common stock to cover tax obligations upon vesting of restricted stock awards.
Summary
- On February 28, 2024, Kevin Nowlan, the EVP & Chief Financial Officer of BorgWarner Inc., disposed of 6,097 shares of common stock at a price of $30.78.
- Additionally, on the same day, Nowlan disposed of another 6,683 shares of common stock, also at $30.78.
- These transactions were executed to cover taxes due upon the vesting of certain restricted stock awards.
- Following these transactions, Nowlan directly owns 152,918.17 shares of BorgWarner common stock.
Sentiment
Score: 5
Explanation: The sentiment is neutral as the filing simply reports stock disposals for tax purposes, a routine transaction.
Industry Context
Form 4 filings are a routine part of insider trading regulations, providing transparency into the transactions of company executives. Disposals to cover tax obligations are common.
Stakeholder Impact
- The transactions have a minimal direct impact on stakeholders as they are related to tax obligations of an executive.
Key Dates
| Date | Description |
|---|---|
| 02/28/2024 | Date of stock disposal transactions. |
| 03/01/2024 | Date of signature for the report. |
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