4/A: CME Group Executive Timothy McCourt Amends SEC Filing to Correct Transaction Code and Reflect Share Adjustments
SEC Filing (Form 4/A)
Timothy McCourt, Sr MD Global Head Equity & FX at CME Group, amends his SEC Form 4 to correct a transaction code and reflect adjustments to his beneficially owned shares following a performance share award and tax obligations.
Summary
- Timothy McCourt, a senior executive at CME Group, filed an amendment to his Form 4 with the SEC.
- The amendment corrects a clerical error in the original filing regarding the transaction code.
- It also reflects adjustments to the amount of shares beneficially owned due to a performance share award and the sale of 35 shares reported on March 22, 2024.
- The transactions occurred on March 15, 2024.
- McCourt acquired 556 shares from a 2020 performance share award at $217.50 per share.
- He also surrendered 284 shares to cover tax obligations related to the performance share award and 99 shares for tax obligations upon the vesting of restricted stock.
- Following these transactions, McCourt beneficially owns 6,447 shares of CME Group Class A common stock.
Sentiment
Score: 7
Explanation: The document is a routine regulatory filing related to executive compensation. The sentiment is neutral, reflecting standard corporate governance practices and transparency. The performance share award suggests positive company performance.
Positives
- McCourt received 556 shares from a performance share award, indicating the company met certain performance targets related to shareholder return.
Industry Context
This filing is a routine disclosure related to executive compensation and share ownership, common in publicly traded companies like CME Group. It provides transparency into the holdings and transactions of key personnel.
Comparison to Industry Standards
- Executive compensation practices, including performance-based share awards, are common across the financial services industry.
- Companies like Intercontinental Exchange (ICE) and Nasdaq (NDAQ) also utilize similar equity-based compensation plans to incentivize executives and align their interests with shareholders.
- The specific terms and conditions of these plans, such as the performance metrics and vesting schedules, can vary depending on the company's strategic goals and compensation philosophy.
Stakeholder Impact
- Shareholders gain insight into executive compensation and alignment of interests.
- Employees may be impacted by the company's overall performance, which influences executive compensation.
Key Dates
| Date | Description |
|---|---|
| 03/15/2024 | Date of earliest transaction: Acquisition of shares from performance share award and surrender of shares for tax obligations. |
| 03/19/2024 | Date of original Form 4 filing. |
| 03/22/2024 | Date of Form 4 filing reporting the sale of 35 shares. |
| 04/03/2024 | Date of amended Form 4/A filing. |
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