Form 4: Cato Corp Executive George Berry Reports Stock Award and Tax Withholding

George Berry, VP and Assistant Controller of Cato Corp, reports the acquisition of restricted stock and a subsequent disposal to cover tax obligations.

Summary

• On May 1, 2024, George Berry, VP and Assistant Controller of Cato Corp, reported a transaction involving Class A Common Stock.
• Berry acquired 2,006 shares of Class A Common Stock as part of a restricted stock award.
• Simultaneously, 579 shares were disposed of to cover tax obligations related to the stock award at a price of $4.76 per share.
• Following these transactions, Berry directly owns 12,691 shares of Cato Corp Class A Common Stock.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing, indicating a neutral sentiment. It reflects standard compensation practices and tax obligations.

Industry Context

Form 4 filings are standard practice and provide transparency into the transactions of company insiders, allowing investors to track ownership changes and potential alignment of interests.

Comparison to Industry Standards

• Form 4 filings are a standard regulatory requirement for publicly traded companies in the United States, ensuring transparency in insider trading activities.
• Similar filings are made by executives at comparable companies like Abercrombie & Fitch, American Eagle Outfitters, and Gap Inc. when they engage in transactions involving their company's stock.

Stakeholder Impact

• The transactions have a minor impact on shareholders as they reflect standard executive compensation practices.

Key Dates