Form 4: CECO Environmental Corp: Executive Officer Todd Gleason Reports Stock Transactions
SEC Form 4 Filing
Todd Gleason, Chief Executive Officer of CECO Environmental Corp, reports the disposition of shares to cover tax liabilities and details holdings of common stock, restricted stock units, and stock options.
Summary
- On March 7, 2025, Todd Gleason, the CEO of CECO Environmental Corp, engaged in transactions involving the company's stock.
- 3,526 shares of common stock were disposed of at a price of $24.24 to cover tax liabilities related to the vesting of restricted stock units.
- Following the transaction, Gleason directly owns 286,110 shares of CECO Environmental Corp.
- Gleason also indirectly owns 444 shares each through his first, second and third sons and daughter.
- Gleason holds 225,000 performance-based restricted stock units, which convert to common stock on the fourth anniversary of the grant date if certain stock price targets are met and he is still employed by the company.
- He also holds a stock option for 25,446 shares with an exercise price of $21.32, vesting in three equal annual installments starting March 15, 2025, and expiring ten years from the grant date.
Sentiment
Score: 5
Explanation: The document is a standard SEC filing detailing stock transactions, which carries a neutral sentiment.
Future Outlook
The restricted stock units will convert to common stock on the fourth anniversary of the grant date if certain stock price targets are met and the reporting person is still employed by the company. The stock options vest in three equal annual installments beginning on March 15, 2025, and expire ten years from the grant date.
Industry Context
This filing is a routine disclosure of stock transactions by a company executive, which is a common practice in publicly traded companies. It provides transparency to investors regarding the executive's holdings and transactions in the company's stock.
Stakeholder Impact
- The disclosure of stock transactions by a key executive provides transparency to shareholders.
Key Dates
| Date | Description |
|---|---|
| 03/07/2025 | Date of stock transaction (disposal of shares to cover tax liability). |
| 03/15/2025 | First vesting date for stock options. |
| 03/11/2025 | Date of Form 4 filing. |
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