Form 4: Fortune Brands Innovations CEO Nicholas Fink Reports Share Withholding for Tax Obligations
SEC Form 4 Filing
Nicholas Fink, CEO of Fortune Brands Innovations, reported the withholding of 11,211 shares to cover tax obligations upon vesting of an award.
Summary
- On February 28, 2024, Nicholas I. Fink, CEO of Fortune Brands Innovations, had 11,211 shares of common stock withheld by the issuer to cover tax obligations.
- The withholding price was $80.89 per share.
- Following the transaction, Fink directly owns 216,819 shares.
- Fink also indirectly owns shares through trusts: 5,828 shares held by trusts for the benefit of heirs, 19,446 shares held by a 2022 Grantor Retained Annuity Trust, and 55,852 shares held by a 2023 Grantor Retained Annuity Trust.
- The reported holdings include 94,333 restricted stock units that have not yet vested.
Sentiment
Score: 5
Explanation: This is a routine filing related to tax obligations, so it doesn't significantly impact sentiment.
Industry Context
Form 4 filings are standard practice and provide transparency into the transactions of company insiders, allowing investors to track ownership changes and potential alignment of interests between management and shareholders.
Stakeholder Impact
- The transaction has a minor impact on shareholders as it reflects standard compensation practices and insider ownership adjustments.
Key Dates
| Date | Description |
|---|---|
| 02/28/2024 | Date of transaction: Share withholding for tax obligations. |
| 02/29/2024 | Date of signature on the Form 4 filing. |
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