Form 4: Graham Corp CEO Daniel J. Thoren Reports Stock Transactions
SEC Form 4 Filing
Daniel J. Thoren, President and CEO of Graham Corporation, reports the vesting of restricted stock units and subsequent tax withholding, resulting in adjustments to his beneficial ownership.
Summary
- On May 23, 2024, Daniel J. Thoren, the President and CEO of Graham Corporation, reported transactions involving common stock and restricted stock units.
- Specifically, 8,140 restricted stock units vested and converted into common stock.
- A portion of the newly vested shares, 2,934 shares, were withheld to cover tax obligations at a price of $28.44 per share.
- Following these transactions, Thoren directly owns 337,721 shares of Graham Corporation common stock.
- He also holds 8,140 restricted stock units that vested on 5/23/2024, with the balance vesting on 5/23/2025.
- Additionally, he holds 12,177 restricted stock units that vested on 5/17/2024, with the balance vesting in installments on 5/17/2025 and 5/17/2026.
Sentiment
Score: 6
Explanation: The sentiment is neutral as it reflects routine transactions related to executive compensation. There are no indications of unusual activity or concerns.
Positives
- The vesting of restricted stock units indicates that performance milestones were likely met.
Future Outlook
The document outlines the vesting schedule for remaining restricted stock units, indicating future potential increases in Thoren's common stock holdings.
Industry Context
Form 4 filings are standard practice and provide transparency into the transactions of company insiders, which can be useful for investors assessing management's alignment with shareholder interests.
Stakeholder Impact
- The transactions have a minor impact on shareholders as they reflect standard executive compensation practices.
Key Dates
| Date | Description |
|---|---|
| 05/23/2023 | Two-thirds of the original grant of 8,140 restricted stock units vested in substantially equal installments on each of 5/23/2023 and 5/23/2024. |
| 05/23/2024 | Date of transaction: vesting of 8,140 restricted stock units and tax withholding of 2,934 shares. |
| 05/17/2024 | One-third of the original grant of 12,177 restricted stock units vested. |
| 05/23/2025 | Remaining balance of 8,140 restricted stock units vests. |
| 05/17/2025 | Substantially equal installment of 12,177 restricted stock units vests. |
| 05/17/2026 | Substantially equal installment of 12,177 restricted stock units vests. |
| 05/28/2024 | Date of signature for the Form 4 filing. |
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