Form 4: Columbus McKinnon Corp: Officer Terry Schadeberg Reports Changes in Beneficial Ownership Due to Retirement
SEC Form 4 Filing
Terry Schadeberg, President of the Americas at Columbus McKinnon Corp, reports changes in beneficial ownership of company stock and options following their retirement on September 20, 2024.
Summary
- Terry Schadeberg, President of the Americas at Columbus McKinnon Corp, filed a Form 4 on September 20, 2024, reporting changes in beneficial ownership of Columbus McKinnon Corp [CMCO] securities.
- The changes are due to Schadeberg's retirement on September 20, 2024.
- Schadeberg forfeited 2,201.6858 restricted stock units upon retirement.
- 2,405.4403 shares were disposed of, with 2,403 shares traded and 2.4403 shares sold to cover tax obligations at a price of $32.64.
- Schadeberg also forfeited non-qualified stock options for 75,816 shares.
- The expiration dates of some previously reported non-qualified stock options were adjusted to September 20, 2029, due to the retirement.
Sentiment
Score: 5
Explanation: This is a neutral event. It reflects a standard transaction related to an executive's retirement and does not inherently indicate positive or negative sentiment regarding the company's future prospects.
Negatives
- The reporting person forfeited a significant number of restricted stock units and non-qualified stock options due to retirement.
Industry Context
This filing is a routine disclosure related to changes in beneficial ownership by a company officer, which is a common occurrence in publicly traded companies. It doesn't necessarily indicate anything about the company's overall performance or outlook.
Management Changes
| Role | Previous Person | New Person | Effective Date | Reason |
|---|---|---|---|---|
| President of the Americas | Terry Schadeberg | TBD | 09/20/2024 | Retirement |
Stakeholder Impact
- Shareholders may see a slight dilution due to the vesting of stock options over time, but this is a normal part of executive compensation.
- Employees may experience a change in leadership with the retirement of the President of the Americas.
Key Dates
| Date | Description |
|---|---|
| 05/16/2023 | Start date for vesting of 33.33% per year for 3 years for 17,441 Non-Qualified Stock Options. |
| 05/22/2024 | Start date for vesting of 33.33% per year for 3 years for 16,217 Non-Qualified Stock Options. |
| 08/20/2024 | Date of signature by Mary C. O'Connor as POA of Terry Schadeberg. |
| 09/20/2024 | Date of earliest transaction, reporting person's retirement date, forfeiture of restricted stock units and non-qualified options, and adjustment of expiration dates for certain options. |
| 05/20/2025 | Start date for vesting of 33.33% per year for 3 years for 9,501 Non-Qualified Stock Options. |
| 04/01/2032 | Original expiration date for 75,816 Non-Qualified Stock Options (Right to Buy). |
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