Form 4: H.B. Fuller Executive VP and CFO John J. Corkrean Reports Changes in Beneficial Ownership
SEC Filing
Executive VP and CFO of H.B. Fuller, John J. Corkrean, filed a Form 4 detailing changes in his beneficial ownership of the company's stock, including the acquisition of phantom units and holdings of employee stock options and restricted stock units.
Summary
- John J. Corkrean, Executive VP and CFO of H.B. Fuller, filed a Form 4 with the SEC.
- The filing reports changes in his beneficial ownership of H.B. Fuller's securities.
- The reported transactions include the acquisition of 95.04 phantom units on July 19, 2024, at a price of $0.00.
- Corkrean directly owns 47,187 shares of common stock.
- He also holds various employee stock options with different exercise prices and expiration dates, totaling 232,178 shares.
- Additionally, he holds restricted stock units representing 7,790.97 shares of common stock.
- The filing indicates that some stock options vest in installments, and restricted stock units also vest over time.
- Some holdings include dividend equivalent features, increasing the number of units or shares.
Sentiment
Score: 6
Explanation: The sentiment is neutral. It's a routine filing showing changes in ownership, with no clear positive or negative implications.
Positives
- The acquisition of phantom units could indicate confidence in the company's future performance.
- The executive's continued holding of a significant number of shares and options aligns his interests with those of shareholders.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the trading activities of company insiders. These filings are closely watched by investors for signals about management's confidence in the company's prospects.
Comparison to Industry Standards
- Executive compensation packages, including stock options and restricted stock units, are common across publicly traded companies to align management's interests with shareholder value.
- The vesting schedules for stock options and restricted stock units are typical, often spanning several years to incentivize long-term performance.
- Comparing the size of Corkrean's holdings and the terms of his equity grants to those of executives at peer companies like Avery Dennison or 3M would provide a more comprehensive assessment of his compensation package.
Stakeholder Impact
- The filing provides transparency to shareholders regarding the executive's holdings and potential incentives.
- Employees holding similar stock options and restricted stock units may be interested in the vesting schedules and terms outlined in the filing.
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. |
| 01/24/2023 | Date of restricted stock units vesting in three annual installments beginning on this date, expiring 01/24/2025. |
| 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. |
| 01/24/2024 | Date of restricted stock units vesting in three annual installments beginning on this date, expiring 01/24/2026. |
| 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. |
| 01/26/2025 | Date of restricted stock units vesting in three annual installments beginning on this date, expiring 01/26/2027. |
| 07/19/2024 | Date of the reported transaction involving the acquisition of phantom units. |
| 07/22/2024 | Date of the filing. |
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