Form 4: Curtiss-Wright Executive Kevin Rayment Reports Stock Transactions

Kevin Rayment, Vice President and COO of Curtiss-Wright, reports the acquisition and disposal of company stock and restricted stock units.

Summary

• On March 19, 2024, Kevin Rayment, Vice President and COO of Curtiss-Wright Corporation, acquired 2,786 shares of common stock through a restricted share unit grant under the company's 2014 Long Term Incentive Plan.
• These units vest into common stock shares after a three-year vesting period.
• On the same day, Rayment sold 1,070 shares of common stock at a price of $243.497 per share.
• Following these transactions, Rayment beneficially owns 28,329 shares of Curtiss-Wright common stock.
• Rayment also holds 6,915 derivative securities in the form of restricted stock units.

Sentiment

Score: 6

Explanation: The sentiment is neutral as the document primarily reports stock transactions related to executive compensation. The sale of shares is explained as being for tax obligations, mitigating potential negative sentiment.

Positives

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

Negatives

• The sale of shares, while potentially for tax obligations, could be perceived negatively by some investors if not understood in the context of the company's share ownership guidelines.

Risks

• There are no specific risks outlined in this document, as it primarily reports transactions.

Management Comments

• The 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 subject to regulatory reporting requirements to ensure transparency and prevent insider trading.

Comparison to Industry Standards

• Executive compensation packages often include restricted stock units to align executive interests with shareholder value, similar to practices at companies like General Electric and Honeywell.
• The vesting period of three years is a standard practice in many long-term incentive plans, comparable to those used by Boeing and Lockheed Martin.

Stakeholder Impact

• The transactions may have a minor impact on shareholders, primarily through the perception of executive confidence in the company.

Key Dates