Form 4: Everest Group EVP & CFO Mark Kociancic Reports Changes in Beneficial Ownership
SEC Form 4 Filing
Mark Kociancic, EVP & CFO of Everest Group, reports the disposal of common shares to cover withholding taxes on vested restricted shares.
Summary
- On February 23, 2024, Mark Kociancic, the EVP & CFO of Everest Group, disposed of common shares to cover withholding taxes related to the vesting of restricted shares.
- A total of 270 shares were disposed of at a price of $370.4688 per share, related to shares granted on 2/23/21.
- An additional 228 shares were disposed of at the same price, related to shares granted on 2/23/22.
- Finally, 201 shares were disposed of at $370.4688 per share, related to shares granted on 2/23/23.
- Following these transactions, Kociancic directly owns 25,034 common shares of Everest Group.
Sentiment
Score: 5
Explanation: This is a routine filing related to executive compensation and tax obligations, and does not indicate any positive or negative sentiment.
Industry Context
Form 4 filings are a routine part of executive compensation and provide transparency into the trading activities of company insiders. The sale of shares to cover tax obligations upon vesting of restricted stock units is a common practice.
Stakeholder Impact
- The transaction has a minimal impact on shareholders as it is a routine disposal of shares to cover tax obligations.
Key Dates
| Date | Description |
|---|---|
| 02/23/2021 | Date of grant for 820 restricted shares that vested on 2/23/24. |
| 02/23/2022 | Date of grant for 703 restricted shares that vested on 2/23/24. |
| 02/23/2023 | Date of grant for 618 restricted shares that vested on 2/23/24. |
| 02/23/2024 | Date of transaction (disposal of shares) and vesting of restricted shares. |
| 02/27/2024 | Date of signature on the Form 4 filing. |
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