Form 4: H.B. Fuller Executive VP and CFO, John J. Corkrean, Reports Changes in Beneficial Ownership
SEC Form 4
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 stock options and restricted stock units.
Summary
- On November 8, 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 100.83 phantom units, which convert into common stock on a 1-for-1 basis.
- It also includes information on existing employee stock options with various exercise prices and expiration dates, as well as restricted stock units that vest in annual installments.
- The report indicates that Mr. Corkrean directly owns 47,187 shares of common stock.
- The filing also mentions dividend equivalent features associated with stock units and restricted stock units.
Sentiment
Score: 5
Explanation: This is a routine regulatory filing, so the sentiment is neutral.
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 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 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 executive compensation and ownership.
- It assures stakeholders that executives' interests are aligned with those of the shareholders through equity ownership.
Key Dates
| Date | Description |
|---|---|
| 05/17/2017 | Date of employee stock option grant with an exercise price of $43.48 and expiration on 05/17/2026. |
| 01/26/2018 | Date of employee stock option grant with an exercise price of $50.1 and expiration on 01/26/2027. |
| 01/25/2019 | Date of employee stock option grant with an exercise price of $53.57 and expiration on 01/25/2028. |
| 01/24/2020 | Date of employee stock option grant with an exercise price of $45.05 and expiration on 01/24/2029. |
| 01/24/2021 | Date of employee stock option grant with an exercise price of $48.35 and expiration on 01/24/2030. |
| 01/27/2022 | Date of employee stock option grant with an exercise price of $51.89 and expiration on 01/27/2031. |
| 01/24/2023 | Date of restricted stock unit grant vesting in three annual installments beginning on this date and employee stock option grant with an exercise price of $72.94 and expiration on 01/24/2032. |
| 01/24/2024 | Date of restricted stock unit grant vesting in three annual installments beginning on this date and employee stock option grant with an exercise price of $68.17 and expiration on 01/24/2033. |
| 01/26/2025 | Date of restricted stock unit grant vesting in three annual installments beginning on this date and employee stock option grant with an exercise price of $77.72 and expiration on 01/26/2034. |
| 11/08/2024 | Date of the transaction involving the acquisition of phantom units. |
| 11/12/2024 | Date of the signature on the Form 4 filing. |
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