Form 4: H.B. Fuller Executive VP and CFO John J. Corkrean Reports Changes in Beneficial Ownership
SEC Form 4 Filing
Executive VP and CFO of H.B. Fuller, John J. Corkrean, filed a Form 4 detailing changes in beneficial ownership, including the acquisition of phantom units and adjustments to stock options and restricted stock units.
Summary
- On April 29, 2024, John J. Corkrean, Executive VP and CFO of H.B. Fuller, filed a Form 4 with the SEC.
- The filing reports changes in beneficial ownership of H.B. Fuller securities.
- Corkrean directly owns 47,187 shares of common stock.
- The report details the acquisition of 105.67 phantom units on April 26, 2024, which convert into common stock on a 1-for-1 basis.
- The filing also includes information on employee stock options and restricted stock units held by Corkrean, with various vesting schedules and expiration dates.
Sentiment
Score: 5
Explanation: This is a routine filing, so the sentiment is neutral. It simply reflects changes in beneficial ownership.
Industry Context
Form 4 filings are a routine part of executive compensation and provide transparency into the holdings and transactions of company insiders.
Comparison to Industry Standards
- Executive compensation packages, including stock options and restricted stock units, are common across publicly traded companies like H.B. Fuller.
- Companies such as Sherwin-Williams (SHW) and PPG Industries (PPG) also utilize similar equity-based compensation strategies to align executive interests with shareholder value.
- Vesting schedules and exercise prices are typically benchmarked against industry peers to ensure competitiveness and retention.
Stakeholder Impact
- The filing provides transparency to shareholders regarding executive compensation and ownership.
- Employees holding stock options and restricted stock units are directly impacted by the vesting schedules and stock price performance.
Key Dates
| Date | Description |
|---|---|
| 05/17/2017 | Date of employee stock option (Right-to-Buy) with an exercise price of $43.48 |
| 01/26/2018 | Date of employee stock option (Right-to-Buy) with an exercise price of $50.1 |
| 01/25/2019 | Date of employee stock option (Right-to-Buy) with an exercise price of $53.57 |
| 01/24/2020 | Date of employee stock option (Right-to-Buy) with an exercise price of $45.05 |
| 01/24/2021 | Date of employee stock option (Right-to-Buy) with an exercise price of $48.35 |
| 01/24/2023 | Date of employee stock option (Right-to-Buy) with an exercise price of $72.94 and restricted stock units vesting in three annual installments |
| 01/24/2024 | Date of employee stock option (Right-to-Buy) with an exercise price of $68.17 and restricted stock units vesting in three annual installments |
| 01/27/2022 | Date of employee stock option (Right-to-Buy) with an exercise price of $51.89 |
| 01/26/2025 | Date of employee stock option (Right-to-Buy) with an exercise price of $77.72 and restricted stock units vesting in three annual installments |
| 05/17/2026 | Expiration date of employee stock option (Right-to-Buy) with an exercise price of $43.48 |
| 01/26/2027 | Expiration date of employee stock option (Right-to-Buy) with an exercise price of $50.1 and expiration date of restricted stock units vesting in three annual installments |
| 01/25/2028 | Expiration date of employee stock option (Right-to-Buy) with an exercise price of $53.57 |
| 01/24/2029 | Expiration date of employee stock option (Right-to-Buy) with an exercise price of $45.05 |
| 01/24/2030 | Expiration date of employee stock option (Right-to-Buy) with an exercise price of $48.35 |
| 01/27/2031 | Expiration date of employee stock option (Right-to-Buy) with an exercise price of $51.89 |
| 01/24/2032 | Expiration date of employee stock option (Right-to-Buy) with an exercise price of $72.94 |
| 01/24/2033 | Expiration date of employee stock option (Right-to-Buy) with an exercise price of $68.17 |
| 01/26/2034 | Expiration date of employee stock option (Right-to-Buy) with an exercise price of $77.72 |
| 04/26/2024 | Transaction date for acquisition of phantom units |
| 04/29/2024 | Date of Form 4 filing |
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