Form 4: CRH Executive Albert Jude Manifold Disgorges Profits from Mismatched Stock Sales

Former CRH executive Albert Jude Manifold sold 7,000 ordinary shares and preemptively disgorged profits to the issuer due to a mismatch with prior dividend reinvestments.

Summary

• Albert Jude Manifold, a former executive officer and director of CRH PUBLIC LTD CO, sold 7,000 ordinary shares on February 28, 2025, at a price of $100.8158 per share.
• The sale was matchable to non-exempt automatic dividend reinvestments that occurred in December 2024 and October 2024.
• Manifold preemptively disgorged $84.63 to CRH, representing the profit realized on the differential between the sale and the dividend reinvestments.
• The reported price represents the volume-weighted average price of shares sold, with prices ranging between $100.13 and $101.56 on the New York Stock Exchange.
• Manifold retired from his position as Chief Executive Officer and as a member of the Board of Directors of the Issuer, effective December 31, 2024.

Sentiment

Score: 6

Explanation: The document is neutral, detailing a routine transaction and a minor compliance issue. The preemptive disgorgement is a positive sign, but the initial mismatch is a slight negative.

Positives

• Manifold preemptively disgorged profits, demonstrating a commitment to compliance.
• Full information regarding the number of shares sold at each separate price in the range will be provided to the SEC upon request.

Negatives

• The sale of shares was matchable to non-exempt automatic dividend reinvestments, indicating a potential compliance oversight.

Risks

• Potential for further scrutiny from regulatory bodies regarding compliance with Section 16 regulations.

Industry Context

Executive stock transactions are common, but the disgorgement of profits highlights the importance of compliance with insider trading regulations.

Comparison to Industry Standards

• Disgorgement of profits due to mismatched stock sales is not unique, but it is less common among large, well-established companies like CRH.
• Similar situations have occurred at companies like Apple and Microsoft, where executives have had to return profits due to inadvertent violations of trading policies.

Stakeholder Impact

• The disgorgement of profits could have a minor positive impact on shareholder confidence.

Key Dates