Form 4: Dover Corp Senior VP & CFO Brad M. Cerepak Reports Stock Disposals for Tax Obligations
SEC Form 4 Filing
Brad M. Cerepak, Senior VP & CFO of Dover Corp, reported the disposal of common stock to cover tax obligations upon the vesting of restricted stock units.
Summary
- On March 15, 2024, Brad M. Cerepak, Senior VP & CFO of Dover Corp, disposed of shares of common stock to satisfy tax obligations.
- The disposals were related to the vesting of restricted stock units granted on February 12, 2021, February 11, 2022, and February 10, 2023.
- A total of 485, 371, and 388 shares were withheld for taxes at a price of $175.065 per share.
- Following these transactions, Cerepak directly owns 16,665 shares of Dover Corp common stock and indirectly owns 2,977 shares through a 401K plan.
Sentiment
Score: 5
Explanation: This is a neutral event. It reflects routine tax management related to executive compensation and doesn't indicate any strategic shift or concern about the company's performance.
Industry Context
This is a routine Form 4 filing, reflecting standard practice for corporate executives to manage tax obligations related to equity compensation. It's common for executives to sell shares to cover taxes upon vesting of restricted stock units.
Comparison to Industry Standards
- Form 4 filings are standard practice across publicly traded companies.
- The tax withholding rate and subsequent stock disposal are typical for executives receiving equity compensation.
- Similar transactions are regularly observed among executives at comparable industrial companies.
Key Dates
| Date | Description |
|---|---|
| 02/12/2021 | Date of grant for restricted stock units, partial vesting of which led to the disposal of 485 shares. |
| 02/11/2022 | Date of grant for restricted stock units, partial vesting of which led to the disposal of 371 shares. |
| 02/10/2023 | Date of grant for restricted stock units, partial vesting of which led to the disposal of 388 shares. |
| 03/15/2024 | Date of transaction: Disposal of shares for tax obligations. |
| 03/19/2024 | Date of signature on the Form 4 filing. |
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