Form 4: Distribution Solutions Group Executive Acquires Shares and Settles Tax Obligations
SEC Filing
Ronald J. Knutson, EVP, CFO & Treasurer of Distribution Solutions Group, reports acquisition of shares through a performance award and disposition of shares to cover taxes.
Summary
- Ronald J. Knutson, EVP, CFO & Treasurer of Distribution Solutions Group, filed a Form 4 detailing changes in beneficial ownership.
- On March 8, 2024, Knutson acquired 6,271 shares of common stock at $30.65 per share related to a ROIC-based performance award granted on January 5, 2021.
- The Compensation Committee confirmed the achievement of 108.8% of the ROIC goal for the performance cycle from January 1, 2021, to December 31, 2023.
- Also on March 8, 2024, Knutson disposed of 2,778 shares of common stock at $30.65 per share to cover taxes upon vesting of restricted stock units.
- Following these transactions, Knutson directly owns 41,481 shares of Distribution Solutions Group common stock.
Sentiment
Score: 7
Explanation: The document reflects standard executive compensation practices and achievement of performance goals, suggesting a neutral to slightly positive sentiment.
Positives
- The achievement of 108.8% of the ROIC goal suggests strong performance by the company during the performance cycle.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This filing indicates activity related to executive compensation and tax obligations.
Stakeholder Impact
- Shareholders may view the achievement of the ROIC goal positively, indicating effective management and value creation.
- The transactions have a minor impact on the overall shareholding structure.
Key Dates
| Date | Description |
|---|---|
| January 5, 2021 | Original grant date of the ROIC-based performance award. |
| January 1, 2021 | Start date of the three-year performance cycle for the ROIC-based award. |
| December 31, 2023 | End date of the three-year performance cycle for the ROIC-based award. |
| March 8, 2024 | Date of the reported transactions: acquisition of shares from performance award and disposition of shares for tax obligations. |
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.