Form 4: Graham Corp CEO Daniel J. Thoren Reports Stock Transactions

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 17, 2024, Daniel J. Thoren, the President and CEO of Graham Corporation, reported transactions involving common stock and restricted stock units.
• 6,088 restricted stock units vested and converted into common stock on a one-for-one basis.
• 2,202 shares were withheld to cover tax obligations related to the vesting of these restricted stock units at a price of $29.12.
• Thoren's direct ownership of common stock following these transactions is 332,515 shares.
• He also directly owns 12,177 restricted stock units that vest on 5/17/2025 and 5/17/2026.
• Additionally, he directly owns 16,280 restricted stock units that vest on 5/23/2024 and 5/23/2025.
• Thoren also holds 2,298 shares acquired under the Graham Corporation Employee Stock Purchase Plan.

Sentiment

Score: 6

Explanation: The document reflects routine insider transactions related to executive compensation. It's neutral to slightly positive, indicating standard corporate practices.

Positives

• The vesting of restricted stock units indicates a form of compensation and alignment of the executive's interests with the company's performance.

Negatives

• The sale of shares to cover tax obligations, while standard, slightly reduces the executive's holdings.

Risks

• Significant sales of shares by executives could be perceived negatively by the market, although this transaction appears routine for tax purposes.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. These filings are closely watched by investors seeking insights into management's perspective on the company's stock.

Comparison to Industry Standards

• Executive compensation packages often include restricted stock units that vest over time to incentivize long-term performance.
• Tax withholding upon vesting is a standard practice across publicly traded companies.
• The size of the holdings and transactions are typical for a CEO of a company with Graham Corporation's market capitalization.

Stakeholder Impact

• The transactions have a minimal direct impact on stakeholders, as they are related to executive compensation and tax obligations.
• Transparency in insider transactions helps maintain investor confidence.

Key Dates