Form 4: Curtiss-Wright Corp Executive Ogilby Reports Stock Transactions

Gary A. Ogilby, VP & Corporate Controller of Curtiss-Wright Corp, reports acquisition and disposal of company stock and restricted stock units on March 19, 2024.

Summary

• Gary A. Ogilby, VP & Corporate Controller of Curtiss-Wright Corp, filed a Form 4 detailing changes in beneficial ownership.
• On March 19, 2024, Ogilby acquired 348 shares of common stock through a restricted share unit grant under the company's 2014 Long Term Incentive Plan at $0.
• Also on March 19, 2024, Ogilby disposed of 150 shares of common stock at a price of $243.71.
• Following these transactions, Ogilby beneficially owns 2,167 shares of common stock.
• Ogilby also acquired 348 restricted stock units on March 19, 2024, which vest in common stock shares after a three-year vesting period.
• Following these transactions, Ogilby beneficially owns 4,861 restricted stock units.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. The transactions are routine and explained, suggesting no major concerns. The acquisition of restricted stock units is a positive sign of alignment with company goals.

Positives

• The acquisition of restricted stock units aligns the executive's interests with the long-term performance of the company.

Negatives

• The sale of 150 shares, while stated to be for tax obligations, could be perceived negatively by some investors.

Risks

• Executive stock sales, even for tax purposes, can sometimes be misinterpreted by the market.

Future Outlook

The restricted stock units vest over a three-year period, incentivizing the executive to contribute to the company's long-term success.

Management Comments

• Shares were sold in compliance with the Company's share ownership guidelines whereby the executive may sell a portion of the vesting award to cover any tax obligations associated with the vesting of the award.
• The Reporting Person is and remains in compliance with the share ownership guidelines.

Industry Context

Executive stock transactions are a common occurrence in publicly traded companies and are typically disclosed to ensure transparency.

Comparison to Industry Standards

• Executive compensation packages, including restricted stock units, are a standard practice among companies of similar size and industry to Curtiss-Wright Corp.
• The vesting period of three years for the restricted stock units is a typical timeframe for such grants.

Stakeholder Impact

• The transactions have a minor impact on shareholders, primarily related to the potential dilution from the vesting of restricted stock units.

Key Dates