Form 4: Corpay Executive Alan King Reports Stock Transactions
SEC Form 4
Alan King, Group President at Corpay, reports acquisition and disposal of common stock and stock options.
Summary
- On February 14, 2025, Alan King, Group President, Global Fleet at Corpay, engaged in several transactions involving Corpay's common stock and employee stock options.
- King acquired 3,480 shares of common stock through a performance-based restricted stock award that vests over three years.
- He also acquired 1,061 shares of common stock through a restricted stock award that vests ratably over three years.
- Additionally, King disposed of 519 shares of common stock to cover tax liabilities associated with the vesting of a security, at a price of $368.41 per share.
- King also acquired 7,245 employee stock options with an exercise price of $377.31, vesting ratably over four years.
- Following these transactions, King beneficially owns 22,088 shares of common stock and 7,245 derivative securities.
Sentiment
Score: 6
Explanation: The sentiment is neutral. The filing reflects routine transactions related to executive compensation and tax obligations. There's no indication of unusual or concerning activity.
Positives
- The acquisition of restricted stock and stock options demonstrates continued alignment of the executive's interests with the company's long-term performance.
Negatives
- The disposal of shares to cover tax liabilities, while routine, slightly reduces the executive's direct holdings.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. These filings are closely watched by investors seeking insights into management's perspective on the company's stock.
Stakeholder Impact
- The transactions provide transparency to shareholders regarding executive compensation and stock ownership.
Key Dates
| Date | Description |
|---|---|
| 02/14/2025 | Date of earliest transaction: Acquisition and disposal of common stock and stock options. |
| 02/14/2026 | First vesting date (1/3) for performance based restricted stock award. |
| 02/14/2026 | First vesting date (25%) for employee stock options. |
| 02/14/2027 | Second vesting date (1/3) for performance based restricted stock award. |
| 02/14/2027 | Second vesting date (33%) for restricted stock award. |
| 02/14/2027 | Second vesting date (25%) for employee stock options. |
| 02/14/2028 | Third vesting date (33%) for restricted stock award. |
| 02/14/2028 | Third vesting date (25%) for employee stock options. |
| 02/14/2029 | Fourth vesting date (25%) for employee stock options. |
| 02/14/2035 | Expiration date for employee stock options. |
| 03/14/2025 | Date of signature for the Form 4 filing. |
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