Form 4: Dover Corp VP & Treasurer James M. Moran Reports Changes in Beneficial Ownership
SEC Form 4 Filing
James M. Moran, VP & Treasurer of Dover Corp, reports the disposal of common stock to cover tax obligations upon the vesting of restricted stock units.
Summary
- On March 15, 2024, James M. Moran, VP & Treasurer of Dover Corp, disposed of common stock to cover tax obligations.
- These 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 86 shares were disposed of at a price of $175.065 per share.
- Following these transactions, Moran directly owns 5,653 shares of Dover Corp common stock and indirectly owns 817 shares through a 401K plan.
Sentiment
Score: 5
Explanation: This is a routine transaction related to executive compensation and tax obligations, with no indication of positive or negative sentiment.
Industry Context
This filing is a routine disclosure related to executive compensation and does not necessarily reflect a strategic shift or material event for Dover Corp within its industry.
Comparison to Industry Standards
- Executive compensation practices, including the use of restricted stock units, are common across publicly traded companies.
- Tax withholding practices upon vesting are also standard.
- Comparable companies in the industrial sector, such as Illinois Tool Works (ITW) and Roper Technologies (ROP), also utilize similar equity-based compensation plans for their executives.
Stakeholder Impact
- The transaction has a minimal impact on shareholders as it is a routine disposal of shares for tax purposes.
Key Dates
| Date | Description |
|---|---|
| 02/12/2021 | Date of grant for restricted stock units, partial vesting occurred on 03/15/2024 |
| 02/11/2022 | Date of grant for restricted stock units, partial vesting occurred on 03/15/2024 |
| 02/10/2023 | Date of grant for restricted stock units, partial vesting occurred on 03/15/2024 |
| 03/15/2024 | Date of transaction: Disposal of shares for tax withholding. |
| 03/19/2024 | Date of signature on the Form 4 filing. |
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