Form 4: L.B. Foster Executive Brian Kelly Reports Stock Transactions
SEC Form 4 Filing
Brian H. Kelly, EVP and Sr. Advisor to the CEO of L.B. Foster Company, reports the withholding of shares to cover taxes related to vesting restricted stock and adjustments to holdings of common stock and restricted stock units.
Summary
- Brian H. Kelly, an executive at L.B. Foster Company, filed a Form 4 detailing changes in beneficial ownership of company stock.
- On February 14, 2025, 1,647 shares of common stock were withheld to cover taxes related to the vesting of restricted stock from the 2023-2025 Long Term Incentive Plan (LTIP) at a price of $27.5 per share.
- Following this transaction, Kelly directly owns 74,484 shares of common stock, which includes 5,327 Performance Restricted Stock Units earned under the 2022-2024 Long Term Incentive Plan granted on 02/17/2022 and 8,522 Performance Restricted Stock Units earned under the 2023-2025 Long Term Incentive Plan granted on 2/14/2023.
- On February 17, 2025, 890 shares of common stock were withheld to cover taxes applicable to the vesting of restricted stock related to the 2022-2024 LTIP awarded on 2/17/22 at a price of $27.5 per share.
- After this transaction, Kelly directly owns 73,594 shares of common stock.
- Kelly also indirectly owns 531 shares through the L.B. Foster Company 401(k) Plan.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing detailing stock transactions related to executive compensation; it doesn't inherently convey positive or negative sentiment.
Future Outlook
The 5,327 Performance Restricted Stock Units earned under the 2022-2024 Long Term Incentive Plan granted on 02/17/2022 will settle at the end of the 2022-2024 performance period on December 31, 2024, upon certification by the Compensation Committee and the 8,522 Performance Restricted Stock Units earned under the 2023-2025 Long Term Incentive Plan granted on 2/14/2023 will settle at the end of the performance period on December 31, 2025, upon certification by the Compensation Committee.
Industry Context
Form 4 filings are a routine part of executive compensation and provide transparency into the trading activities of company insiders.
Comparison to Industry Standards
- Executive compensation practices, including the use of restricted stock units and long-term incentive plans, are common across publicly traded companies.
- Companies like Trinity Industries, Inc. and Greenbrier Companies, which operate in similar industries, also utilize equity-based compensation for their executives.
- The specific terms and conditions of these plans, such as performance metrics and vesting schedules, can vary significantly between companies.
Stakeholder Impact
- The transactions have a minor impact on shareholders as they reflect routine executive compensation practices.
- Employees participating in the 401(k) plan may see slight changes in their holdings due to the indirect ownership of shares by Brian Kelly.
Key Dates
| Date | Description |
|---|---|
| 02/17/2022 | Grant date of 5,327 Performance Restricted Stock Units earned under the 2022-2024 Long Term Incentive Plan. |
| 02/14/2023 | Grant date of 8,522 Performance Restricted Stock Units earned under the 2023-2025 Long Term Incentive Plan. |
| 12/31/2024 | Settlement date for 5,327 Performance Restricted Stock Units earned under the 2022-2024 Long Term Incentive Plan, upon certification by the Compensation Committee. |
| 02/14/2025 | Date of transaction where 1,647 shares were withheld for taxes related to the 2023-2025 LTIP vesting. |
| 02/17/2025 | Date of transaction where 890 shares were withheld for taxes related to the 2022-2024 LTIP vesting. |
| 12/31/2025 | Settlement date for 8,522 Performance Restricted Stock Units earned under the 2023-2025 Long Term Incentive Plan, upon certification by the Compensation Committee. |
| 02/19/2025 | Date of signature on the Form 4 filing. |
Keywords
Form 4, Beneficial Ownership, Stock Transaction, L.B. Foster, FSTR, Brian Kelly, Restricted Stock Units, LTIP, Executive Compensation
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