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 stock, including the acquisition of phantom units and adjustments to existing stock options and restricted stock units.
Summary
- On June 7, 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 103.11 phantom units, which convert into common stock on a 1-for-1 basis.
- These phantom units convert into shares of common stock upon the earlier of certain termination events as specified in the Key Employee Deferred Compensation Plan or such earlier date as selected by the participant, subject to holding periods required by law.
- The report also includes information on existing employee stock options with various exercise prices and expiration dates, as well as restricted stock units that vest in three annual installments.
- The total amount of common stock beneficially owned following the reported transactions is 47,187 shares.
- The report also mentions stock units and restricted stock units acquired pursuant to dividend equivalent features.
Sentiment
Score: 5
Explanation: This is a routine regulatory filing. It doesn't contain any information that would significantly impact investor sentiment positively or negatively.
Industry Context
Form 4 filings are standard practice and provide transparency into the transactions of company insiders, allowing investors to track ownership changes and potential alignment of interests.
Comparison to Industry Standards
- Executive compensation packages often include a mix of salary, stock options, restricted stock units, and performance-based bonuses.
- The vesting schedules and exercise prices of the stock options and restricted stock units are typical for executive compensation plans.
- Companies like 3M, Dow, and DuPont, which operate in similar industries, also utilize stock options and restricted stock units as part of their executive compensation packages.
Stakeholder Impact
- The filing provides transparency to shareholders regarding the executive's stake in the company.
- It assures stakeholders that the executive's interests are aligned with theirs through equity ownership.
Key Dates
| Date | Description |
|---|---|
| 05/17/2017 | Date of employee stock option grant with an exercise price of $43.48, 100% vested. |
| 01/26/2018 | Date of employee stock option grant with an exercise price of $50.1, 100% vested. |
| 01/25/2019 | Date of employee stock option grant with an exercise price of $53.57, 100% vested. |
| 01/24/2020 | Date of employee stock option grant with an exercise price of $45.05, 100% vested. |
| 01/24/2021 | Date of employee stock option grant with an exercise price of $48.35, 100% vested. |
| 01/27/2022 | Date of employee stock option grant with an exercise price of $51.89, 100% vested. |
| 01/24/2023 | Date of employee stock option grant with an exercise price of $72.94, vesting in three annual installments. |
| 01/24/2023 | Date of restricted stock unit grant, vesting in three annual installments. |
| 01/24/2024 | Date of employee stock option grant with an exercise price of $68.17, vesting in three annual installments. |
| 01/24/2024 | Date of restricted stock unit grant, vesting in three annual installments. |
| 01/26/2025 | Date of employee stock option grant with an exercise price of $77.72, vesting in three annual installments. |
| 01/26/2025 | Date of restricted stock unit grant, vesting in three annual installments. |
| 06/07/2024 | Date of the reported transaction involving the acquisition of phantom units. |
| 06/10/2024 | Date of the report filing. |
| 01/24/2025 | Vesting date for restricted stock units granted on 01/24/2023. |
| 01/26/2025 | Vesting date for employee stock options granted on 01/26/2025. |
| 01/24/2026 | Vesting date for restricted stock units granted on 01/24/2024. |
| 05/17/2026 | Expiration date for employee stock options granted on 05/17/2017. |
| 01/26/2027 | Expiration date for employee stock options granted on 01/26/2018. |
| 01/26/2027 | Vesting date for restricted stock units granted on 01/26/2025. |
| 01/25/2028 | Expiration date for employee stock options granted on 01/25/2019. |
| 01/24/2029 | Expiration date for employee stock options granted on 01/24/2020. |
| 01/24/2030 | Expiration date for employee stock options granted on 01/24/2021. |
| 01/27/2031 | Expiration date for employee stock options granted on 01/27/2022. |
| 01/24/2032 | Expiration date for employee stock options granted on 01/24/2023. |
| 01/24/2033 | Expiration date for employee stock options granted on 01/24/2024. |
| 01/26/2034 | Expiration date for employee stock options granted on 01/26/2025. |
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