Form 4: H.B. Fuller Executive VP and CFO, John J. Corkrean, Reports Changes in Beneficial Ownership
SEC Form 4 Filing
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 securities, including phantom units, employee stock options, and restricted stock units.
Summary
- On June 24, 2024, John J. Corkrean, Executive VP and CFO of H.B. Fuller, reported changes in his beneficial ownership of the company's securities.
- The report details the acquisition of 100.55 phantom units on June 21, 2024, which convert into shares of common stock on a 1-for-1 basis.
- Corkrean directly owns 47,187 shares of common stock.
- He also holds various employee stock options with different exercise prices and expiration dates, totaling 238,194 shares.
- Additionally, he owns restricted stock units that convert into common stock on a 1-for-1 basis, totaling 7,790.97 shares.
- The report includes stock units and restricted stock units acquired through dividend equivalent features.
Sentiment
Score: 7
Explanation: The document is a routine filing, indicating standard executive compensation practices. The sentiment is neutral to slightly positive as it reflects ongoing alignment of executive interests with shareholder value through equity-based compensation.
Positives
- The reporting of beneficial ownership changes is a standard practice ensuring transparency for investors.
- The executive's holdings in stock options and restricted stock units align his interests with the company's performance.
Future Outlook
The document does not contain specific forward-looking statements, but it details ongoing vesting schedules for stock options and restricted stock units.
Industry Context
Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to the market.
Comparison to Industry Standards
- Executive compensation packages often include a mix of salary, stock options, restricted stock units, and other incentives.
- The vesting schedules and exercise prices of the stock options are typical for executive compensation plans.
- Companies like 3M, Dow, and Henkel, which operate in similar industries, also utilize stock options and restricted stock units as part of their executive compensation packages.
Stakeholder Impact
- Shareholders are informed about changes in the executive's ownership stake, promoting transparency.
- Employees holding similar stock options and restricted stock units may be interested in the vesting schedules and terms.
- The filing has minimal direct impact on customers, suppliers, and creditors.
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 beginning on this date and expiring 01/24/2025. |
| 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 beginning on this date and expiring 01/24/2026. |
| 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 beginning on this date and expiring 01/26/2027. |
| 06/21/2024 | Date of transaction involving the acquisition of phantom units. |
| 06/24/2024 | Date of the Form 4 filing. |
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