Form 4: Expeditors International CEO Exercises Stock Options, Sells Shares to Cover Taxes
SEC Form 4 Filing
Jeffrey Musser, President and CEO of Expeditors International, exercised stock options and sold shares to cover tax obligations on May 2, 2024.
Summary
- On May 2, 2024, Jeffrey S. Musser, the President and CEO of Expeditors International of Washington Inc., exercised restricted stock units (RSUs) and dividend equivalent rights (DERs) that vested on the same date.
- He exercised 4,262 RSUs and 48 DERs, each representing the right to receive one common share of the issuer.
- Following the transaction, Musser directly owns 132,674.7944 shares of common stock.
- He also indirectly owns 112,513 shares through a trust.
- Musser disposed of 1,595 shares at a price of $111.99 to cover tax obligations related to the vesting of the RSUs.
- After the reported transactions, Musser beneficially owns 8,524 RSUs and 97.27 dividend equivalent rights.
Sentiment
Score: 5
Explanation: The sentiment is neutral as the filing reflects routine transactions related to executive compensation and tax obligations.
Industry Context
Form 4 filings are standard practice and provide transparency into the transactions of company insiders, allowing investors to track management's alignment with shareholder interests.
Key Dates
| Date | Description |
|---|---|
| 05/02/2024 | Date of earliest transaction, vesting of RSUs and DERs, and exercise of derivative securities. |
| 05/06/2024 | Date of signature on the Form 4 filing. |
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