Form 4: Carriage Services Inc. Executive Paul Elliott Reports Stock Transactions
SEC Form 4
Paul Elliott, Sr. VP and Regional Partner at Carriage Services Inc., reports acquisition and disposal of common stock and derivative securities.
Summary
- On February 19, 2025, Paul Elliott acquired 6,499 shares of common stock at $41.54 per share.
- He also acquired 32,778 shares of common stock at $39.85 per share through the exercise of performance awards.
- Additionally, 9,307 shares were withheld by the issuer to cover taxes associated with the vesting of performance awards.
- Following these transactions, Elliott directly owns 64,145 shares of common stock and indirectly owns 6,029 shares jointly with his spouse.
- He also holds various stock options with different exercise prices and expiration dates, as well as performance awards.
Sentiment
Score: 6
Explanation: The sentiment is neutral. It's a routine filing of stock transactions. The acquisitions could be seen as slightly positive, but the tax withholding is a neutral event.
Positives
- The acquisition of shares through performance awards indicates confidence in the company's future performance.
Negatives
- The withholding of shares for tax obligations reduces the net gain from the vesting of performance awards.
Risks
- Fluctuations in the stock price could impact the value of the acquired shares and stock options.
- Changes in company performance could affect the vesting and value of future performance awards.
Future Outlook
The document does not contain explicit forward-looking statements, but the vesting schedules of stock options and restricted stock grants suggest a long-term incentive structure.
Industry Context
Executive stock transactions are common and are often viewed as a sign of management's confidence in the company. However, they can also be driven by personal financial planning needs.
Comparison to Industry Standards
- Stock option grants and performance awards are standard compensation practices in publicly traded companies to align management's interests with those of shareholders.
- The vesting schedules and exercise prices of the options are within typical ranges for executive compensation packages.
- Comparing the size of Elliott's holdings and transactions to those of executives at similar-sized companies in the death care industry (e.g., Service Corporation International) could provide further context.
Stakeholder Impact
- The transactions may have a minor impact on shareholder sentiment, depending on how they interpret the insider activity.
- Employees may be affected by the vesting of performance awards, which are tied to company performance.
Key Dates
| Date | Description |
|---|---|
| 03/21/2017 | Stock Options granted on 3/21/2017 pursuant to the Carriage Services, Inc. Second Amended and Restated 2006 Long-Term Incentive Plan which will vested in equal increments each year over five years beginning 3/21/2018. |
| 02/14/2018 | Stock Options granted on 2/14/2018 pursuant to the Carriage Services, Inc. 2017 Omnibus Plan which will vested in equal increments each year over five years beginning 2/14/2019. |
| 05/19/2020 | Performance awards granted on May 19, 2020 under the Carriage Services, Inc. 2017 Omnibus Incentive Plan. |
| 02/17/2021 | Stock Options granted on 2/17/2021 pursuant to the Carriage Services, Inc. 2017 Omnibus Incentive Plan which will vest in equal increments each year over five years beginning 2/17/2022. |
| 02/23/2022 | Stock Options granted on 2/23/2022 pursuant to the Carriage Services, Inc. 2017 Omnibus Incentive Plan which will vest in equal increments each year over seven years beginning 2/23/2023. |
| 02/22/2023 | Stock Options granted on 2/22/2023 pursuant to the Carriage Services, Inc. 2017 Omnibus Incentive Plan which will vest in equal increments each year over three years beginning 2/22/2024. |
| 02/21/2024 | Stock Options granted on 2/21/2024 pursuant to the Carriage Services, Inc. 2017 Omnibus Incentive Plan which will vest in equal increments each year over three years beginning 2/21/2025. |
| 12/31/2024 | Performance awards vested on December 31, 2024. |
| 02/19/2025 | Date of earliest transaction; acquisition and disposal of shares. |
| 02/21/2025 | Date of signature on the form. |
| 02/19/2026 | Restricted Stock grant pursuant to the Carriage Services, Inc. 2017 Omnibus Incentive Plan which will vest in equal increments each year over three years beginning 2/19/2026. |
| 03/21/2027 | Expiration date of stock options granted on 3/21/2017. |
| 02/14/2028 | Expiration date of stock options granted on 2/14/2018. |
| 02/17/2031 | Expiration date of stock options granted on 2/17/2021. |
| 02/23/2032 | Expiration date of stock options granted on 2/23/2022. |
| 02/22/2033 | Expiration date of stock options granted on 2/22/2023. |
| 02/21/2034 | Expiration date of stock options granted on 2/21/2024. |
Keywords
Form 4, Beneficial Ownership, Stock Options, Common Stock, Carriage Services Inc., Elliott Paul Donald, Performance Awards, Insider Trading
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