4/A: Columbus McKinnon Exec Corrects Stock Ownership After Vesting
SEC Filing (Form 4/A)
Alan S. Korman, Sr VP, Gen'l Counsel & Sec of Columbus McKinnon Corp, files an amended Form 4 to correct the amount of securities beneficially owned following a recent transaction involving vested restricted stock units.
Summary
- Alan S. Korman, a Senior VP, Gen'l Counsel & Secretary at Columbus McKinnon Corp, filed an amended Form 4 on June 5, 2024, to correct a previously filed report on May 22, 2024.
- The amendment addresses the amount of securities beneficially owned after restricted stock units vested on May 22, 2024.
- Specifically, 1,886.2954 restricted stock units vested, with 679 shares traded and 0.2954 shares converted to cash for tax withholding.
- Following the transaction, Korman beneficially owns 41,216.8049 shares of common stock, including restricted stock subject to forfeiture under certain conditions.
- The vesting schedule for the restricted stock varies, with portions vesting in May 2025 and subsequent years, contingent on continued employment.
Sentiment
Score: 5
Explanation: This is a routine regulatory filing correcting a previous error, so the sentiment is neutral.
Future Outlook
The vesting of remaining restricted stock is contingent on the reporting person's continued employment with the issuer.
Industry Context
Form 4 filings are routine disclosures required by the SEC to provide transparency into the transactions of company insiders, allowing investors to track ownership changes and potential alignment of interests.
Stakeholder Impact
- Shareholders are informed about changes in insider ownership, which can influence investor confidence.
Key Dates
| Date | Description |
|---|---|
| 05/22/2024 | Date of the transaction (vesting of restricted stock units). |
| 05/24/2024 | Date of original Form 4 filing (incorrect). |
| 06/05/2024 | Date of amended Form 4/A filing. |
| 05/16/2025 | 1,735.2213 shares become fully vested. |
| 05/22/2025 | 3,771.5836 shares become fully vested 50% per year for 2 years beginning. |
| 05/20/2025 | 3,496 shares become fully vested 33.33% per year for three years beginning. |
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