Form 4: H.B. Fuller Executive VP and CFO John J. Corkrean Reports Changes in Beneficial Ownership
SEC Form 4
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 holdings in employee stock options and restricted stock units.
Summary
- John J. Corkrean, Executive VP and CFO of H.B. Fuller, reported changes in beneficial ownership of company stock.
- The report details the acquisition of 99.35 phantom units on October 11, 2024, which convert into 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 232,801 shares.
- Additionally, Corkrean possesses restricted stock units that convert into common stock on a 1-for-1 basis, totaling 7,812.99 units.
- The filing was signed by Patrick J. Seul, Attorney-in-Fact, on October 15, 2024.
Sentiment
Score: 6
Explanation: The document is a standard regulatory filing, so the sentiment is neutral. It reflects routine executive compensation practices.
Positives
- The reporting person continues to hold a significant amount of company stock and stock options, indicating confidence in the company's future.
Future Outlook
The document does not contain specific forward-looking statements, but it does show ongoing equity-based compensation and ownership by a key executive.
Industry Context
Form 4 filings are a routine part of executive compensation and provide transparency into the holdings and transactions of company insiders. This filing is typical for companies that utilize stock options and restricted stock units as part of their compensation packages.
Comparison to Industry Standards
- Executive compensation packages, including stock options and restricted stock units, are common across publicly traded companies, especially among companies similar in size and industry to H.B. Fuller.
- The vesting schedules and exercise prices of the options appear to be within typical ranges for executive compensation.
- Comparing the total equity holdings of John J. Corkrean to those of CFOs at comparable companies (e.g., RPM International, Sherwin-Williams) would provide further context on the magnitude of his stake.
Stakeholder Impact
- The filing provides transparency to shareholders regarding executive compensation and ownership.
- Employees holding similar stock options and restricted stock units may be interested in the details of Corkrean's holdings.
Key Dates
| Date | Description |
|---|---|
| 05/17/2017 | Date of employee stock option grant with an exercise price of $43.48 and expiration date of 05/17/2026. |
| 01/26/2018 | Date of employee stock option grant with an exercise price of $50.1 and expiration date of 01/26/2027. |
| 01/25/2019 | Date of employee stock option grant with an exercise price of $53.57 and expiration date of 01/25/2028. |
| 01/24/2020 | Date of employee stock option grant with an exercise price of $45.05 and expiration date of 01/24/2029. |
| 01/24/2021 | Date of employee stock option grant with an exercise price of $48.35 and expiration date of 01/24/2030. |
| 01/27/2022 | Date of employee stock option grant with an exercise price of $51.89 and expiration date of 01/27/2031. |
| 01/24/2023 | Date of employee stock option grant with an exercise price of $72.94 and expiration date of 01/24/2032. Also the vesting start date for 1,120.17 Restricted Stock Units expiring 01/24/2025. |
| 01/24/2024 | Date of employee stock option grant with an exercise price of $68.17 and expiration date of 01/24/2033. Also the vesting start date for 2,516.41 Restricted Stock Units expiring 01/24/2026. |
| 10/11/2024 | Date of transaction for the acquisition of 99.35 phantom units. |
| 01/26/2025 | Date of employee stock option grant with an exercise price of $77.72 and expiration date of 01/26/2034. Also the vesting start date for 4,176.41 Restricted Stock Units expiring 01/26/2027. |
| 10/15/2024 | Date the form was signed by Patrick J. Seul, Attorney-in-Fact. |
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