Form 4: Everest Group Executive VP Gail Van Beveren Reports Stock Disposals for Tax Obligations
SEC Form 4 Filing
Gail Van Beveren, EVP and Chief HR Officer of Everest Group, reports disposing of common shares to cover tax obligations related to vested restricted shares.
Summary
- On February 24, 2025, Gail Van Beveren, EVP and Chief HR Officer of Everest Group, disposed of common shares to cover tax obligations.
- A total of 171 shares were disposed of at a price of $340.4025 to cover taxes on 324 vested restricted shares granted on February 23, 2021.
- An additional 135 shares were disposed of at the same price to cover taxes on 283 vested restricted shares granted on February 23, 2022.
- Finally, 129 shares were disposed of at $340.4025 to cover taxes on 266 vested restricted shares granted on February 23, 2023.
- Following these transactions, Van Beveren beneficially owns 13,390 common shares.
Sentiment
Score: 6
Explanation: The document reflects a routine transaction related to executive compensation and tax obligations, which is neutral in sentiment.
Industry Context
Form 4 filings are standard disclosures required by the SEC when company insiders trade in their company's stock. This filing indicates routine tax-related disposals.
Comparison to Industry Standards
- Executive compensation packages often include restricted stock units (RSUs) that vest over time.
- Upon vesting, these RSUs are subject to income tax, and it's common for executives to sell a portion of their newly vested shares to cover these tax obligations.
- Companies like Chubb, AIG, and Travelers, which are comparable to Everest Group in the insurance industry, also see similar Form 4 filings from their executives related to RSU vesting and tax payments.
Stakeholder Impact
- The disposal of shares by an executive could have a minor impact on shareholders due to the slight increase in the number of shares available in the market.
- However, such transactions are common and generally do not significantly affect the company's stock price.
Key Dates
| Date | Description |
|---|---|
| 02/23/2021 | Date of grant for 324 restricted shares. |
| 02/23/2022 | Date of grant for 283 restricted shares. |
| 02/23/2023 | Date of grant for 266 restricted shares. |
| 02/24/2025 | Date of transaction (disposal of shares). |
| 02/26/2025 | Date of signature. |
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