Form 4: Fortune Brands Innovations CEO Nicholas Fink Reports Changes in Beneficial Ownership
SEC Form 4 Filing
Nicholas Fink, CEO of Fortune Brands Innovations, reports changes in his beneficial ownership of company stock due to a distribution from and termination of a grantor retained annuity trust.
Summary
- Nicholas Fink, the CEO of Fortune Brands Innovations, filed a Form 4 detailing changes in his beneficial ownership of the company's stock.
- On July 29, 2024, Mr. Fink received 15,507 shares from the 2022 Grantor Retained Annuity Trust.
- On July 30, 2024, the 2022 Grantor Retained Annuity Trust terminated, resulting in the transfer of 3,939 shares to trusts held for the benefit of Mr. Fink's heirs.
- Mr. Fink directly owns 232,326 shares of common stock.
- He also indirectly owns 9,767 shares held by trusts for the benefit of his heirs and 55,852 shares held by the 2023 Grantor Retained Annuity Trust.
- The reported holdings include 94,333 restricted stock units that have not yet vested.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing changes in stock ownership, and does not contain any information that would significantly impact investor sentiment positively or negatively.
Industry Context
This filing is a routine disclosure related to executive compensation and personal financial planning, and doesn't necessarily reflect a change in the company's outlook or performance.
Key Dates
| Date | Description |
|---|---|
| 07/29/2024 | Distribution of 15,507 shares from the 2022 Grantor Retained Annuity Trust to Mr. Fink. |
| 07/30/2024 | Termination of the 2022 Grantor Retained Annuity Trust and transfer of 3,939 shares to trusts for Mr. Fink's heirs. |
| 07/31/2024 | Date of the Form 4 filing. |
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