Form 4: Eagle Materials Inc. CEO Michael Haack Executes Stock Options and Sells Shares Under 10b5-1 Plan
SEC Form 4 Filing
Michael Haack, President and CEO of Eagle Materials Inc., exercised stock options and sold shares of common stock on March 6, 2024, according to a pre-arranged Rule 10b5-1 trading plan.
Summary
- On March 6, 2024, Michael Haack, the President and CEO of Eagle Materials Inc., executed non-qualified stock options to acquire shares of common stock.
- These options were exercised at strike prices of $106.24 and $91.58.
- Concurrently, Haack sold shares of Eagle Materials Inc. common stock in a series of transactions at prices ranging from $253.6835 to $257.4729.
- These transactions were executed under a pre-existing Rule 10b5-1 trading plan adopted on December 6, 2023.
- Following these transactions, Haack directly owns 94,229 shares of Eagle Materials Inc. common stock.
- He also holds 20,979 derivative securities.
Sentiment
Score: 5
Explanation: The sentiment is neutral as the filing simply reports transactions executed under a pre-arranged plan. There is no indication of positive or negative sentiment towards the company.
Industry Context
This filing is a routine disclosure of insider transactions. It's common for executives to utilize 10b5-1 plans to sell shares over time to avoid accusations of trading on inside information.
Key Dates
| Date | Description |
|---|---|
| 2023-12-06 | Date of adoption of Rule 10b5-1 trading plan |
| 2024-03-06 | Date of transactions (option exercise and stock sale) |
| 2024-03-08 | Date of Form 4 filing |
| 2028-05-17 | Expiration date of some non-qualified stock options |
| 2029-05-16 | Expiration date of some non-qualified stock options |
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