Form 4: Capital One Executive Reports Stock Award and Tax Withholding
SEC Form 4 Filing
Frank G. LaPrade, III, Chief Enterprise Services Officer of Capital One Financial Corp, reports acquisition of performance shares and subsequent tax withholding.
Summary
- On March 10, 2025, Frank G. LaPrade, III, Chief Enterprise Services Officer of Capital One Financial Corp, acquired 9,444 shares of common stock related to a performance share award.
- These shares were earned based on the company's performance against a peer group over a three-year period, considering Common Dividends + Growth of Tangible Book Value per Share and Adjusted ROTCE.
- Simultaneously, 4,260 shares were withheld by Capital One at a price of $163.87 to cover the reporting person's tax obligations associated with the settlement of the performance shares.
- Following these transactions, LaPrade directly owns 53,375 shares of Capital One common stock and indirectly owns 810 shares through a 401(k).
Sentiment
Score: 6
Explanation: The document reflects a routine transaction related to executive compensation. The vesting of performance shares is generally a positive sign, but the tax withholding is a neutral event.
Positives
- The vesting of performance shares suggests that Capital One met certain performance targets related to Common Dividends + Growth of Tangible Book Value per Share and Adjusted ROTCE.
Industry Context
Form 4 filings are standard disclosures required by the SEC to ensure transparency in insider trading activities, allowing investors to monitor the actions of company executives.
Comparison to Industry Standards
- Capital One's executive compensation practices, including performance-based equity awards, are common within the financial services industry.
- Companies like JPMorgan Chase, Bank of America, and Citigroup also utilize similar performance metrics (e.g., ROTCE, book value growth) in their executive compensation plans.
- The specific performance targets and vesting schedules vary across companies, reflecting different strategic priorities and risk appetites.
Stakeholder Impact
- Shareholders may view the vesting of performance shares as a positive indicator of company performance.
- The tax withholding has no direct impact on stakeholders.
Key Dates
| Date | Description |
|---|---|
| 02/03/2022 | Date of original grant of performance shares. |
| 11/02/2023 | Date of amendment to the performance share grant. |
| 03/10/2025 | Date of stock award and tax withholding. |
| 03/12/2025 | Date of signature on the Form 4 filing. |
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