Form 4: Enerpac Tool Group Director Clarkson J. Palmer Reports Acquisition of Phantom Stock

Director Clarkson J. Palmer reports acquisition of phantom stock units in Enerpac Tool Group Corp through dividend equivalent rights.

Summary

• On October 18, 2024, Clarkson J. Palmer, a director of Enerpac Tool Group Corp, acquired 8 units of phantom stock.
• This acquisition was due to dividend equivalent rights under the Outside Director's Deferred Compensation Plan.
• The price was based on the closing selling price of Class A Common Stock on the date of accrual, which was $44.03.
• Following the transaction, Palmer directly owns 8,955 derivative securities.
• The phantom stock converts 1 for 1 into shares of Class A Common Stock and is settled following the director's termination of service or a specified date.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. The filing indicates continued participation in the company's compensation plan, which can be seen as a sign of confidence. However, it's a routine disclosure and doesn't necessarily indicate a major shift in the company's prospects.

Positives

• The acquisition of phantom stock units reflects continued participation in the company's deferred compensation plan.
• The director's continued holding of derivative securities may signal confidence in the company's future performance.

Future Outlook

The phantom stock units are settled generally following the director's termination of service or a specified date.

Industry Context

This filing is a routine disclosure related to executive compensation and is typical for publicly traded companies. It provides transparency regarding the holdings of company insiders.

Comparison to Industry Standards

• Director compensation plans involving phantom stock are common among publicly traded companies.
• The specifics of Enerpac's Outside Director's Deferred Compensation Plan would need to be compared to similar plans at peer companies to assess its competitiveness and alignment with shareholder interests.
• Companies like Stanley Black & Decker and Illinois Tool Works (ITW) also utilize various forms of equity-based compensation for their directors.

Stakeholder Impact

• Shareholders are informed about the compensation structure for directors.
• The filing provides transparency regarding insider holdings, which can influence investor confidence.

Key Dates