Form 4: Fifth Third Bancorp Executive James C. Leonard Reports Stock Disposals for Tax Obligations
SEC Form 4 Filing
James C. Leonard, EVP & Chief Operating Officer of Fifth Third Bancorp, reports disposals of common stock to cover tax obligations upon vesting of restricted stock units.
Summary
- James C. Leonard, an executive at Fifth Third Bancorp, filed a Form 4 detailing changes in beneficial ownership.
- The report indicates the disposal of Fifth Third Bancorp common stock to cover tax obligations related to the vesting of restricted stock units.
- These disposals occurred on February 14, 2025, and February 16, 2025.
- The shares were withheld to satisfy tax obligations arising from restricted stock units granted on February 14, 2023, February 14, 2024 and February 16, 2022.
- The price per share for these transactions was $44.06.
- Following these transactions, Leonard directly owns 223,777 shares of Fifth Third Bancorp common stock.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing detailing stock disposals for tax purposes, which is neutral in sentiment.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This filing reflects standard practice of executives covering tax liabilities associated with vested equity.
Stakeholder Impact
- The stock disposal has a minimal impact on shareholders as it is related to tax obligations and does not indicate a change in the executive's long-term outlook on the company.
Key Dates
| Date | Description |
|---|---|
| 02/14/2023 | Date of grant for restricted stock units related to one of the tax obligation disposals. |
| 02/14/2024 | Date of grant for restricted stock units related to one of the tax obligation disposals. |
| 02/16/2022 | Date of grant for restricted stock units related to one of the tax obligation disposals. |
| 02/14/2025 | Date of stock disposals to cover tax obligations. |
| 02/16/2025 | Date of stock disposals to cover tax obligations. |
| 02/19/2025 | Date of signature for the Form 4 filing. |
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