Form 4: Fortrea CFO Jill G. McConnell Reports Stock Transactions Following RSU Vesting
SEC Form 4 Filing
Jill G. McConnell, CFO of Fortrea Holdings Inc., reports the vesting and subsequent sale of shares to cover tax obligations related to restricted stock units (RSUs).
Summary
- On March 4, 2024, Jill G. McConnell, CFO of Fortrea Holdings Inc., reported transactions involving the company's common stock.
- These transactions included the vesting of 20,776 Restricted Stock Units (RSUs) which converted into shares of common stock.
- Simultaneously, 6,098 shares were withheld by Fortrea to satisfy tax obligations related to the vesting of these RSUs at a price of $36.7 per share.
- Following these transactions, McConnell directly owns 20,717 shares of Fortrea common stock and 73,899 RSUs.
- The original performance awards were granted by Labcorp in 2021 and converted into time-vesting RSUs of Fortrea following the spin-off.
Sentiment
Score: 5
Explanation: The document is a routine disclosure of stock transactions, with no inherent positive or negative sentiment.
Industry Context
Form 4 filings are standard practice for company insiders to report transactions in their company's stock, providing transparency to investors.
Stakeholder Impact
- The transactions have a minimal impact on shareholders, as they represent routine executive compensation and tax withholding.
Key Dates
| Date | Description |
|---|---|
| June 7, 2023 | Date of Power of Attorney execution, authorizing James Stillman Hanson and Erica Smith-Klocek to act on behalf of Jill G. McConnell for SEC filings. |
| March 4, 2024 | Date of the reported transactions: vesting of RSUs and withholding of shares for tax obligations. |
| March 6, 2024 | Date of the Form 4 filing. |
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