Form 4: Cooper-Standard Holdings Executive Reports Stock Transactions
SEC Form 4
Patrick Clark, a Cooper-Standard Holdings officer, reports the vesting and conversion of restricted stock units (RSUs) into common stock, along with adjustments to direct and indirect ownership.
Summary
- On March 1, 2025, Patrick Clark, President, Sealing Systems and Chief Manufacturing Officer of Cooper-Standard Holdings Inc., reported several transactions involving common stock and restricted stock units (RSUs).
- Clark converted 3,389 RSUs granted on February 16, 2022, into common stock.
- He also converted 6,826 RSUs granted on February 15, 2023, into common stock.
- Additionally, 6,234 RSUs granted on February 14, 2024, were converted into common stock.
- A portion of Clark's shares (4,706) were disposed of at a price of $15.14.
- Clark also reported a gift of 11,743 shares.
- Following these transactions, Clark directly owns 11,743 shares and indirectly owns 42,494 shares through a revocable family trust.
Sentiment
Score: 5
Explanation: This is a neutral disclosure of insider transactions. It doesn't inherently indicate positive or negative sentiment about the company's prospects.
Industry Context
This filing is a routine disclosure of insider transactions, which are common for executives receiving stock-based compensation. It provides transparency into the executive's holdings and recent activities but doesn't necessarily indicate a strategic shift for the company.
Comparison to Industry Standards
- Form 4 filings are standard practice for publicly traded companies and their executives.
- The vesting schedules of the RSUs (one-third vesting annually over three years) are typical for executive compensation packages.
- Similar filings can be observed for executives at comparable companies in the automotive parts industry, such as Tenneco, Dana Incorporated, and Lear Corporation.
Stakeholder Impact
- The transactions may have a minor impact on shareholders due to the change in the number of shares outstanding.
- The vesting of RSUs incentivizes the executive to remain with the company.
Key Dates
| Date | Description |
|---|---|
| 02/16/2022 | Time-based restricted stock units (RSUs) granted to the reporting person under Cooper-Standard Holdings Inc. 2021 Omnibus Incentive Plan. |
| 03/01/2022 | One third of the RSUs granted on February 16, 2022, shall vest and no longer be subject to forfeiture on each of the first three anniversaries of this date. |
| 02/15/2023 | Time-based restricted stock units (RSUs) granted to the reporting person under Cooper-Standard Holdings Inc. 2021 Omnibus Incentive Plan. |
| 03/01/2023 | One third of the RSUs granted on February 15, 2023, shall vest and no longer be subject to forfeiture on each of the first three anniversaries of this date. |
| 02/14/2024 | Time-based restricted stock units (RSUs) granted to the reporting person under Cooper-Standard Holdings Inc. 2021 Omnibus Incentive Plan , as amended and restated. |
| 03/01/2024 | One third of the RSUs granted on February 14, 2024, shall vest and no longer be subject to forfeiture on each of the first three anniversaries of this date. |
| 03/01/2025 | Date of earliest transaction: vesting and conversion of RSUs into common stock; gift of shares. |
| 03/04/2025 | Date of signature on the Form 4 filing. |
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