Form 4: Genuine Parts Co: Executive Howe James F. Reports Stock Transactions
SEC Form 4
James F. Howe, President of Motion at Genuine Parts Co, reports multiple transactions involving common stock, including acquisitions and disposals to cover tax obligations, as well as a correction for previously omitted shares.
Summary
- James F. Howe, President of Motion at Genuine Parts Co, filed a Form 4 detailing changes in beneficial ownership of the company's common stock.
- On May 1, 2024, Mr. Howe disposed of 59 shares at $156.77 to cover tax obligations.
- On May 2, 2024, he disposed of 66 shares at $156.32, also for tax obligations.
- On May 3, 2024, Mr. Howe acquired 1,652 shares and 2,088 shares at $0, likely related to Restricted Stock Units (RSUs).
- Also on May 3, 2024, he disposed of 104 shares and 873 shares at $157.65 to cover tax obligations.
- The report also notes a correction, adding 1,768 shares to account for shares acquired pursuant to his 2022 PRSU award grant that were previously omitted in error.
- Following these transactions, Mr. Howe beneficially owns 15,221 shares of Genuine Parts Co.
- The RSUs granted on May 3, 2024, vest in equal annual installments over three years.
Sentiment
Score: 6
Explanation: The sentiment is neutral. The filing primarily reports routine stock transactions and a correction of a previous omission. There's no indication of significant positive or negative sentiment.
Positives
- The reporting person received a grant of time-based RSUs that vests in equal annual installments on the first three anniversaries of the grant date.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the trading activities of company insiders. These filings are closely watched by investors seeking insights into management's perspective on the company's stock.
Stakeholder Impact
- The transactions reported may have a minor impact on shareholders due to the change in insider ownership.
- The correction of previously omitted shares ensures accurate reporting and transparency for stakeholders.
Key Dates
| Date | Description |
|---|---|
| 05/01/2024 | Disposal of 59 shares of common stock at $156.77 |
| 05/02/2024 | Disposal of 66 shares of common stock at $156.32 |
| 05/03/2024 | Acquisition of 1,652 shares of common stock at $0 |
| 05/03/2024 | Acquisition of 2,088 shares of common stock at $0 |
| 05/03/2024 | Disposal of 104 shares of common stock at $157.65 |
| 05/03/2024 | Disposal of 873 shares of common stock at $157.65 |
| 05/21/2024 | Date of signature by Attorney in Fact |
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.