4/A: Fortune Brands Innovations CFO Corrects Share Transaction Reporting
SEC Form 4/A Filing
Fortune Brands Innovations' CFO, David V. Barry, amended a previous filing to correct the number of shares withheld for tax purposes.
Summary
- David V. Barry, the EVP & CFO of Fortune Brands Innovations, filed an amendment to a previous Form 4 regarding changes in beneficial ownership.
- The amendment corrects the number of shares withheld by the issuer for tax purposes on October 30, 2024.
- The original filing, submitted on October 31, 2024, had inadvertently overreported the number of shares withheld.
- The corrected filing shows 415 shares were withheld at a price of $84.03 per share.
- Following the transaction, Mr. Barry directly owns 19,456 shares and indirectly owns 2,504 shares through a retirement savings plan.
- The total includes 13,059 restricted stock units that have not yet vested.
Sentiment
Score: 7
Explanation: The document is a routine correction of a previous filing, indicating a neutral to slightly positive sentiment due to the company's adherence to regulatory requirements.
Industry Context
This is a routine filing related to executive share transactions and is common for publicly traded companies.
Comparison to Industry Standards
- Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders in the US.
- The correction of an error in a previous filing is not uncommon and demonstrates adherence to regulatory requirements.
- Similar filings are made by executives at comparable companies such as Masco Corporation and Stanley Black & Decker.
Stakeholder Impact
- The correction ensures accurate reporting of insider transactions, which is important for maintaining investor confidence.
Key Dates
| Date | Description |
|---|---|
| 10/30/2024 | Date of the share transaction and tax withholding. |
| 10/31/2024 | Date of the original Form 4 filing with incorrect information. |
| 01/31/2025 | Date of the amended Form 4/A filing. |
Keywords
Form 4, Beneficial Ownership, Share Transaction, Tax Withholding, Amendment, Fortune Brands Innovations, David V. Barry, CFO, Restricted Stock Units
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