Form 4: Federated Hermes Executive Peter J. Germain Sells Shares to Cover Tax Obligations

Executive Vice President, CLO & Secretary of Federated Hermes, Peter J. Germain, sold 392 shares of Class B Common Stock to cover tax obligations arising from vesting restricted shares.

Summary

• On May 28, 2024, Peter J. Germain, an Executive Vice President, CLO & Secretary at Federated Hermes, Inc., sold 392 shares of Class B Common Stock.
• The sale was executed at a weighted average price of $33.0201 per share.
• The shares were sold in two transactions with prices ranging from $33.02 to $33.04.
• This transaction was to satisfy tax obligations related to the vesting of restricted shares.
• Following the transaction, Germain directly owns 212,644 shares of Federated Hermes, Inc.
• The reporting person will provide full information regarding the number of shares sold at each separate price within the range upon request.

Sentiment

Score: 5

Explanation: Neutral sentiment. This is a routine transaction to cover tax obligations and doesn't necessarily reflect a change in the executive's confidence in the company.

Industry Context

This is a routine Form 4 filing, indicating an insider transaction. It's common for executives to sell shares to cover tax obligations when restricted stock vests. These transactions are closely monitored but don't necessarily indicate a negative outlook for the company.

Stakeholder Impact

• The sale is unlikely to have a significant impact on shareholders, as it is a small percentage of the executive's holdings and appears to be for tax purposes.

Key Dates