Form 4: H.B. Fuller Executive VP and CFO, John J. Corkrean, Reports Changes in Beneficial Ownership
SEC Form 4
John J. Corkrean, Executive VP and CFO of H.B. Fuller, filed a Form 4 detailing changes in his beneficial ownership of the company's stock, including acquisitions of phantom units and holdings of employee stock options and restricted stock units.
Summary
- On August 19, 2024, John J. Corkrean, Executive VP and CFO of H.B. Fuller Co. [FUL], reported changes in his beneficial ownership of the company's securities.
- The report details the acquisition of 96.63 phantom units on August 16, 2024, at a price of $81.17.
- Corkrean directly owns 47,187 shares of common stock.
- He also holds various employee stock options with different exercise prices and expiration dates, totaling 252,894 shares.
- Additionally, he possesses restricted stock units that convert into common stock, totaling 7,812.99 shares.
- The filing indicates that some options vest in installments, and restricted stock units also vest over time.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing, so the sentiment is neutral. It simply reports transactions and holdings.
Positives
- The reporting person's continued holding of a significant amount of company stock and options could be interpreted as a positive sign of confidence in the company's future performance.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. These filings are closely watched by investors to gauge management's sentiment and confidence in the company's prospects.
Comparison to Industry Standards
- Executive compensation packages often include stock options and restricted stock units to align management's interests with those of shareholders.
- The vesting schedules and exercise prices of the options are typical for executive compensation plans in publicly traded companies.
- Companies like 3M, Avery Dennison, and Henkel also utilize similar equity-based compensation strategies for their executives.
Stakeholder Impact
- Shareholders may be interested in the insider transactions reported in this filing as an indicator of management's confidence in the company.
Key Dates
| Date | Description |
|---|---|
| 05/17/2017 | Date of employee stock option (Right-to-Buy) with an exercise price of $43.48 and an expiration date of 05/17/2026. |
| 01/26/2018 | Date of employee stock option (Right-to-Buy) with an exercise price of $50.1 and an expiration date of 01/26/2027. |
| 01/25/2019 | Date of employee stock option (Right-to-Buy) with an exercise price of $53.57 and an expiration date of 01/25/2028. |
| 01/24/2020 | Date of employee stock option (Right-to-Buy) with an exercise price of $45.05 and an expiration date of 01/24/2029. |
| 01/24/2021 | Date of employee stock option (Right-to-Buy) with an exercise price of $48.35 and an expiration date of 01/24/2030. |
| 01/27/2022 | Date of employee stock option (Right-to-Buy) with an exercise price of $51.89 and an expiration date of 01/27/2031. |
| 01/24/2023 | Date of employee stock option (Right-to-Buy) with an exercise price of $72.94 and an expiration date of 01/24/2032. Also, the vesting start date for restricted stock units. |
| 01/24/2024 | Date of employee stock option (Right-to-Buy) with an exercise price of $68.17 and an expiration date of 01/24/2033. Also, the vesting start date for restricted stock units. |
| 01/26/2025 | Date of employee stock option (Right-to-Buy) with an exercise price of $77.72 and an expiration date of 01/26/2034. Also, the vesting start date for restricted stock units. |
| 08/16/2024 | Date of the transaction involving the acquisition of phantom units. |
| 08/19/2024 | Date of the Form 4 filing. |
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