Form 4: Gates Industrial Corp PLC Executive Thomas Pitstick Reports Stock Transactions
SEC Form 4 Filing
Thomas Pitstick, President, Americas at Gates Industrial Corp PLC, reports the vesting of restricted stock units and subsequent withholding of shares for tax obligations.
Summary
- On July 27, 2024, Thomas Pitstick, President, Americas at Gates Industrial Corp PLC, reported transactions involving ordinary shares and time-based restricted stock units (TBRSUs).
- 25,483 TBRSUs vested, converting into ordinary shares.
- 11,157 ordinary shares were withheld to cover par value and tax obligations at a price of $17.84 per share.
- Following these transactions, Pitstick directly owns 97,675 ordinary shares and 87,738 TBRSUs.
Sentiment
Score: 5
Explanation: This is a neutral report on stock transactions, with no inherent positive or negative sentiment.
Industry Context
This filing is a routine disclosure of insider transactions, which are common for executives receiving stock-based compensation. It provides transparency into the executive's holdings and recent transactions in the company's stock.
Stakeholder Impact
- The transactions have a minor impact on shareholders, as they involve the vesting of previously granted compensation and withholding of shares for tax purposes.
Key Dates
| Date | Description |
|---|---|
| 07/27/2024 | Date of vesting of restricted stock units and withholding of shares for tax obligations. |
| 10/02/2024 | Date of signature on the report. |
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