Form 4: Fortive Corp CEO James A. Lico Transfers Shares to Beneficiaries from Grantor Retained Annuity Trust
SEC Form 4
James A. Lico, President and CEO of Fortive Corp, reports the transfer of 44,583 shares of common stock from a grantor retained annuity trust to beneficiaries on August 13, 2024.
Summary
- On August 13, 2024, James A. Lico, the President and CEO of Fortive Corp, reported a transaction involving the transfer of company shares.
- 44,583 shares of Fortive Corp common stock were transferred from a grantor retained annuity trust (GRAT) to beneficiaries.
- This GRAT was established in 2022 when Lico contributed 198,435 shares to it.
- Upon termination of the GRAT, some shares were distributed to beneficiaries, while the remaining 153,852 shares were returned to Lico and are reported as directly owned.
- Lico also indirectly owns 19,889 shares through a 401(k) plan, based on a statement dated July 31, 2024.
- Following the reported transactions, Lico directly owns 569,153 shares of Fortive Corp common stock.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing a transaction related to executive compensation and wealth management. It doesn't inherently convey positive or negative sentiment regarding the company's performance or outlook.
Industry Context
This Form 4 filing is a routine disclosure related to executive compensation and personal financial management, and doesn't necessarily reflect a strategic shift for Fortive Corp.
Stakeholder Impact
- The transfer of shares from the GRAT to beneficiaries may have a minor impact on the ownership structure of Fortive Corp.
Key Dates
| Date | Description |
|---|---|
| 2022 | Reporting person contributed 198,435 shares of the Issuer's common stock directly held by him to a grantor retained annuity trust (the 'GRAT'). |
| July 31, 2024 | Date of plan statement for 401(k) holdings. |
| August 13, 2024 | Date of the share transfer from the GRAT to beneficiaries. |
| August 14, 2024 | Date of signature for the Form 4 filing. |
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.