Form 4: Dover Corp CEO Richard Tobin Reports Stock Disposals for Tax Obligations
SEC Filing
Richard J. Tobin, Chairman, President & CEO of Dover Corp, reported the disposal of common stock to cover tax obligations related to vesting restricted stock units.
Summary
- Richard J. Tobin, the Chairman, President & CEO of Dover Corp, filed a Form 4 detailing changes in beneficial ownership.
- On March 15, 2024, Tobin disposed of 2,046 shares of common stock at a price of $175.065 to cover tax obligations related to restricted stock units granted on February 12, 2021.
- He also disposed of 1,660 shares at the same price to cover taxes on restricted stock units granted on February 11, 2022.
- Additionally, 1,831 shares were disposed of at $175.065 to cover taxes on restricted stock units granted on February 10, 2023.
- Following these transactions, Tobin directly owns 207,932 shares of Dover Corp common stock.
- He also indirectly owns 77,000 shares through a trust and 467 shares through a 401K plan.
Sentiment
Score: 5
Explanation: The filing reflects routine transactions related to executive compensation and tax obligations, indicating a neutral sentiment.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders.
Stakeholder Impact
- The transactions have a minimal impact on shareholders as they are related to tax obligations and do not indicate a change in the executive's long-term commitment to the company.
Key Dates
| Date | Description |
|---|---|
| 02/10/2023 | Date of grant for some of the restricted stock units. |
| 02/11/2022 | Date of grant for some of the restricted stock units. |
| 02/12/2021 | Date of grant for some of the restricted stock units. |
| 03/15/2024 | Date of stock disposal for tax obligations. |
| 03/19/2024 | Date of Form 4 filing. |
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