Form 4: H.B. Fuller Executive VP and CFO, John J. Corkrean, Reports Acquisition of Phantom Units
SEC Form 4
John J. Corkrean, Executive VP and CFO of H.B. Fuller, reports the acquisition of phantom units convertible into common stock, along with holdings in employee stock options and restricted stock units.
Summary
- John J. Corkrean, Executive VP and CFO of H.B. Fuller, filed a Form 4 detailing changes in beneficial ownership.
- The report includes the acquisition of 98.63 phantom units on March 1, 2024, which convert into common stock on a 1-for-1 basis.
- Corkrean also holds 47,187 shares of common stock directly.
- The filing details holdings in various employee stock options with exercise prices ranging from $43.48 to $77.72 and expiration dates between 2026 and 2034.
- Additionally, Corkrean holds restricted stock units that convert into common stock on a 1-for-1 basis, vesting in three annual installments.
- The report also mentions dividend equivalent features associated with stock units and restricted stock units.
Sentiment
Score: 6
Explanation: The sentiment is neutral. It's a standard regulatory filing detailing changes in beneficial ownership. The information is factual and doesn't inherently indicate positive or negative sentiment.
Positives
- The reporting person's continued holding of a significant number of shares and stock options indicates confidence in the company's future performance.
Future Outlook
The document does not contain specific forward-looking statements beyond the vesting schedules of stock options and restricted stock units.
Industry Context
This filing is a routine disclosure related to executive compensation and holdings, common in publicly traded companies. It provides transparency regarding the executive's stake in the company.
Comparison to Industry Standards
- Executive compensation packages including stock options and restricted stock units are standard practice among publicly traded companies like H.B. Fuller.
- Companies such as 3M, Dow, and DuPont also utilize similar compensation structures to align executive interests with shareholder value.
- The vesting schedules and exercise prices are typical for executive compensation plans in the chemical and materials industry.
Stakeholder Impact
- The filing provides transparency to shareholders regarding executive compensation and ownership.
Key Dates
| Date | Description |
|---|---|
| 05/17/2017 | Date of employee stock option grant with an exercise price of $43.48, expiring on 05/17/2026. |
| 01/26/2018 | Date of employee stock option grant with an exercise price of $50.1, expiring on 01/26/2027. |
| 01/25/2019 | Date of employee stock option grant with an exercise price of $53.57, expiring on 01/25/2028. |
| 01/24/2020 | Date of employee stock option grant with an exercise price of $45.05, expiring on 01/24/2029. |
| 01/24/2021 | Date of employee stock option grant with an exercise price of $48.35, expiring on 01/24/2030. |
| 01/27/2022 | Date of employee stock option grant with an exercise price of $51.89, expiring on 01/27/2031. |
| 01/24/2023 | Date of employee stock option grant with an exercise price of $72.94, expiring on 01/24/2032, and restricted stock units vesting in three annual installments. |
| 01/24/2024 | Date of employee stock option grant with an exercise price of $68.17, expiring on 01/24/2033, and restricted stock units vesting in three annual installments. |
| 01/26/2025 | Date of employee stock option grant with an exercise price of $77.72, expiring on 01/26/2034, and restricted stock units vesting in three annual installments. |
| 03/01/2024 | Date of transaction: Acquisition of 98.63 phantom units. |
| 03/04/2024 | Date of filing. |
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