Form 4: Floor & Decor EVP Steven Denny Executes Stock Options and Sells Shares
SEC Form 4 Filing
Floor & Decor Holdings' EVP, Steven Alan Denny, exercised stock options and sold shares to cover tax obligations, according to a recent SEC Form 4 filing.
Summary
- On February 28, 2024, Steven Alan Denny, EVP of Store Operations at Floor & Decor Holdings, Inc., surrendered 210 shares of Class A common stock to cover tax obligations related to vesting restricted stock units at a price of $123.26 per share.
- On February 29, 2024, Denny exercised options to acquire 899 shares at $57.70, 1,444 shares at $74.81 and 1,497 shares at $95.68.
- Also on February 29, 2024, Denny sold 5,152 shares of Class A common stock at $123.52 per share.
- Following these transactions, Denny directly owns 13,271 shares of Class A common stock and holds options to purchase additional shares.
Sentiment
Score: 5
Explanation: The document is a standard SEC filing detailing insider transactions, which is neutral in sentiment. It doesn't inherently indicate positive or negative performance for the company.
Industry Context
This filing is a routine disclosure of insider transactions, which are common for executives at publicly traded companies. Investors often monitor these filings for signals about management's confidence in the company's prospects.
Comparison to Industry Standards
- Comparing Floor & Decor to similar companies like Home Depot (HD) and Lowe's (LOW), insider trading activity is a normal part of executive compensation.
- The vesting schedules and option exercise prices are typical for executive stock option plans.
Stakeholder Impact
- The transactions may have a minor impact on shareholders due to the change in the number of outstanding shares.
- The transactions do not directly impact employees, customers, suppliers, or creditors.
Key Dates
| Date | Description |
|---|---|
| 02/24/2021 | First vesting date of 899 stock options in four equal annual installments. |
| 11/02/2021 | First vesting date of 1,444 stock options in four equal annual installments. |
| 03/01/2022 | First vesting date of 1,497 stock options in four equal annual installments. |
| 02/24/2022 | Second vesting date of 899 stock options in four equal annual installments. |
| 11/02/2022 | Second vesting date of 1,444 stock options in four equal annual installments. |
| 03/01/2023 | Second vesting date of 1,497 stock options in four equal annual installments. |
| 02/24/2023 | Third vesting date of 899 stock options in four equal annual installments. |
| 11/02/2023 | Third vesting date of 1,444 stock options in four equal annual installments. |
| 02/28/2024 | Denny surrendered 210 shares to cover tax obligations. |
| 02/29/2024 | Denny exercised stock options and sold shares. |
| 02/24/2024 | Fourth vesting date of 899 stock options in four equal annual installments. |
| 03/01/2024 | Third vesting date of 1,497 stock options in four equal annual installments. |
| 11/02/2024 | Fourth vesting date of 1,444 stock options in four equal annual installments. |
| 03/01/2025 | Fourth vesting date of 1,497 stock options in four equal annual installments. |
| 02/24/2030 | Expiration date of 899 stock options. |
| 11/02/2030 | Expiration date of 1,444 stock options. |
| 03/01/2031 | Expiration date of 1,497 stock options. |
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