Form 4: Cooper Companies Executive Corrects Stock Ownership After Stock Split

A Cooper Companies executive has corrected a previous filing regarding their stock ownership after a 4-for-1 stock split.

Summary

• Gerard H. Warner III, President of CooperVision, Inc., filed an amended Form 4 to correct a previous error in reporting his beneficial ownership of Cooper Companies stock.
• The correction was necessary due to a 4-for-1 stock split that occurred on February 16, 2024.
• The original Form 4/A, filed on February 15, 2024, understated the amount of securities owned by 647 shares.
• The corrected filing shows a total of 12,616 shares of common stock owned by Warner, adjusted for the stock split.
• Warner also holds restricted stock units that vest at a rate of 25% per year over four years, starting on January 8, 2025.

Sentiment

Score: 7

Explanation: The document is a routine correction of a filing error, which is a neutral event. The correction is positive for transparency, but the initial error is a minor negative.

Positives

• The executive has taken steps to correct a filing error, ensuring accurate reporting of stock ownership.
• The filing provides clarity on the executive's holdings after the stock split.

Negatives

• The initial filing contained an error, understating the executive's stock ownership by 647 shares.

Risks

• Errors in reporting can lead to confusion and potential regulatory scrutiny.
• Inaccurate filings can impact investor confidence.

Industry Context

This filing is a routine disclosure related to executive stock ownership and is common in publicly traded companies. The correction highlights the importance of accurate reporting, especially after corporate actions like stock splits.

Comparison to Industry Standards

• Executive stock ownership disclosures are standard practice for publicly traded companies like Cooper Companies.
• The 4-for-1 stock split is a common corporate action, and the subsequent adjustments to executive holdings are typical.
• Companies like Alcon and Bausch + Lomb also have similar reporting requirements for their executives' stock holdings.

Stakeholder Impact

• The correction ensures accurate information for shareholders regarding executive stock ownership.
• The filing promotes transparency and accountability.

Key Dates

Keywords

Cooper Companies, Stock Ownership, Form 4, Stock Split, Restricted Stock Units, Executive Compensation, CooperVision