Form 4: L.B. Foster Executive Ness Disposes of Shares to Cover Tax Obligations
SEC Form 4 Filing
Robert Ness, SVP of Precast Concrete Products at L.B. Foster Company, disposed of 169 shares of common stock on February 26, 2024, to cover tax obligations.
Summary
- On February 26, 2024, Robert Ness, SVP of Precast Concrete Products at L.B. Foster Company, disposed of 169 shares of common stock.
- The transaction was executed at a price of $23.4 per share.
- This disposal was to cover tax obligations.
- Following the transaction, Ness directly owns 19,278 shares of L.B. Foster Company.
- This includes 2,663 Performance Restricted Stock Units earned under the 2022-2024 Long Term Incentive Plan granted on 02/17/2022, which will settle on December 31, 2024.
- It also includes 4,261 Performance Restricted Stock Units earned under the 2023-2025 Long Term Incentive Plan granted on 2/14/2023, which will settle on December 31, 2025.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing related to an executive's stock transaction for tax purposes, indicating a neutral sentiment.
Industry Context
Executive stock transactions are a normal part of corporate governance and compensation practices. The disposal of shares to cover tax obligations is a common occurrence.
Stakeholder Impact
- The transaction is unlikely to have a significant impact on stakeholders as it is a routine disposal of shares for tax purposes.
Key Dates
| Date | Description |
|---|---|
| 02/17/2022 | Grant date of 2,663 Performance Restricted Stock Units under the 2022-2024 Long Term Incentive Plan. |
| 02/14/2023 | Grant date of 4,261 Performance Restricted Stock Units under the 2023-2025 Long Term Incentive Plan. |
| 02/26/2024 | Date of the transaction where 169 shares were disposed of. |
| 02/27/2024 | Date of signature on the Form 4 filing. |
| 12/31/2024 | Settlement date for 2,663 Performance Restricted Stock Units earned under the 2022-2024 Long Term Incentive Plan. |
| 12/31/2025 | Settlement date for 4,261 Performance Restricted Stock Units earned under the 2023-2025 Long Term Incentive Plan. |
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