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 beneficial ownership, including the acquisition of phantom units and adjustments to holdings of employee stock options and restricted stock units.
Summary
- On April 11, 2025, John J. Corkrean, Executive VP and CFO of H.B. Fuller Co., reported changes in his beneficial ownership of the company's securities.
- The report details the acquisition of 175.43 phantom units, which convert into shares of common stock on a 1-for-1 basis.
- These units convert into shares upon certain termination events or an earlier date selected by the participant, subject to legal holding periods.
- The report also includes holdings of employee stock options with various exercise prices and expiration dates, as well as restricted stock units that vest in three annual installments.
- Corkrean directly owns 52,196 shares of common stock.
- The report lists multiple employee stock options with varying grant dates, exercise prices, and expiration dates, covering a significant number of shares.
- Restricted stock units are also detailed, vesting over three years and converting to common stock on a 1-for-1 basis.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing, so the sentiment is neutral.
Positives
- The reporting of transactions is a standard part of regulatory compliance.
- The acquisition of phantom units may reflect positively on the executive's alignment with the company's long-term performance.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders.
Comparison to Industry Standards
- Executive compensation packages often include a mix of salary, stock options, restricted stock units, and other incentives.
- The specific terms of these packages, such as vesting schedules and exercise prices, are typically benchmarked against industry peers to attract and retain talent.
- Companies like 3M, Dow, and DuPont, which operate in related industries, also utilize similar compensation strategies for their executives.
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 and conversion terms outlined in the report.
Key Dates
| Date | Description |
|---|---|
| 12-31-04 | Date after which phantom units were acquired. |
| 05/17/2017 | Date of employee stock option grant with exercise price $43.48. |
| 01/26/2018 | Date of employee stock option grant with exercise price $50.1. |
| 01/25/2019 | Date of employee stock option grant with exercise price $53.57. |
| 01/24/2020 | Date of employee stock option grant with exercise price $45.05. |
| 01/24/2021 | Date of employee stock option grant with exercise price $48.35. |
| 01/27/2022 | Date of employee stock option grant with exercise price $51.89. |
| 01/24/2023 | Date of employee stock option grant with exercise price $72.94. |
| 01/24/2024 | Date of employee stock option grant with exercise price $68.17 and vesting start date for restricted stock units. |
| 01/26/2025 | Date of employee stock option grant with exercise price $77.72 and vesting start date for restricted stock units. |
| 04/11/2025 | Date of the reported transaction. |
| 01/26/2026 | Vesting start date for restricted stock units. |
| 05/17/2026 | Expiration date of employee stock option with exercise price $43.48. |
| 01/27/2026 | Date of employee stock option grant with exercise price $64.28. |
| 01/24/2026 | Expiration date for restricted stock units vesting from 01/24/2024. |
| 01/26/2027 | Expiration date for restricted stock units vesting from 01/26/2025 and expiration date of employee stock option with exercise price $50.1. |
| 01/27/2028 | Expiration date for restricted stock units vesting from 01/27/2026. |
| 01/25/2028 | Expiration date of employee stock option with exercise price $53.57. |
| 01/24/2029 | Expiration date of employee stock option with exercise price $45.05. |
| 01/24/2030 | Expiration date of employee stock option with exercise price $48.35. |
| 01/27/2031 | Expiration date of employee stock option with exercise price $51.89. |
| 01/24/2032 | Expiration date of employee stock option with exercise price $72.94. |
| 01/24/2033 | Expiration date of employee stock option with exercise price $68.17. |
| 01/26/2034 | Expiration date of employee stock option with exercise price $77.72. |
| 01/27/2035 | Expiration date of employee stock option with exercise price $64.28. |
Keywords
Form 4, beneficial ownership, H.B. Fuller, FUL, John J. Corkrean, phantom units, stock options, restricted stock units, executive compensation
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