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 the company's stock.
- The report details the acquisition of 97.94 phantom units on September 27, 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 232,131 shares.
- Additionally, Corkrean possesses restricted stock units that convert into common stock on a 1-for-1 basis, with vesting schedules over three years.
- The report includes stock units and restricted stock units acquired through dividend equivalent features.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing and does not convey any particularly positive or negative sentiment. It simply reports transactions related to executive compensation.
Positives
- The reporting person's holdings in employee stock options and restricted stock units demonstrate a long-term commitment to the company's success.
- The acquisition of phantom units suggests continued participation in the company's compensation plans.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders and their holdings in the company's stock. This filing is consistent with standard practices for publicly traded companies.
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 and restricted stock units are typical for executive compensation plans in publicly traded companies.
- Companies like 3M, Dow, and Sherwin-Williams also utilize similar compensation structures for their executives.
Stakeholder Impact
- The filing provides transparency to shareholders regarding the holdings of a key executive.
- The executive's holdings and compensation structure align their interests with those of the shareholders.
Key Dates
| Date | Description |
|---|---|
| 05/17/2017 | Date of grant for employee stock option with an exercise price of $43.48 and an expiration date of 05/17/2026. |
| 01/26/2018 | Date of grant for employee stock option with an exercise price of $50.1 and an expiration date of 01/26/2027. |
| 01/25/2019 | Date of grant for employee stock option with an exercise price of $53.57 and an expiration date of 01/25/2028. |
| 01/24/2020 | Date of grant for employee stock option with an exercise price of $45.05 and an expiration date of 01/24/2029. |
| 01/24/2021 | Date of grant for employee stock option with an exercise price of $48.35 and an expiration date of 01/24/2030. |
| 01/27/2022 | Date of grant for employee stock option with an exercise price of $51.89 and an expiration date of 01/27/2031. |
| 01/24/2023 | Date of grant for employee stock option with an exercise price of $72.94 and an expiration date of 01/24/2032. Also, the vesting start date for restricted stock units expiring on 01/24/2025. |
| 01/24/2024 | Date of grant for employee stock option with an exercise price of $68.17 and an expiration date of 01/24/2033. Also, the vesting start date for restricted stock units expiring on 01/24/2026. |
| 01/26/2025 | Date of grant for employee stock option with an exercise price of $77.72 and an expiration date of 01/26/2034. Also, the vesting start date for restricted stock units expiring on 01/26/2027. |
| 09/27/2024 | Transaction date for the acquisition of 97.94 phantom units. |
| 09/30/2024 | Date of the report filing. |
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