Form 4: Graham Corp CEO Daniel J. Thoren Reports Tax Withholding on Vested Stock Awards
SEC Form 4 Filing
Daniel J. Thoren, President and CEO of Graham Corporation, reports the withholding of shares to cover tax obligations upon the vesting of restricted stock awards.
Summary
- On September 1, 2024, Daniel J. Thoren, the President and CEO of Graham Corporation, had 1,381 shares of common stock withheld to cover tax obligations.
- This was due to the vesting of a restricted stock award granted on September 1, 2021.
- The price per share for the transaction was $31.84.
- Following the transaction, Thoren directly owns 324,885 shares of Graham Corporation common stock.
- Thoren also holds restricted stock units that convert into common stock on a one-for-one basis.
- These restricted stock units vest on various dates in the future.
Sentiment
Score: 5
Explanation: This is a neutral event related to standard executive compensation practices.
Industry Context
Form 4 filings are a routine part of executive compensation and provide transparency into insider transactions, which are closely monitored by investors.
Stakeholder Impact
- The transaction has a minor impact on shareholders as it reflects standard executive compensation practices.
Key Dates
| Date | Description |
|---|---|
| 09/01/2021 | Date of original restricted stock award grant. |
| 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. |
| 05/17/2024 | One-third of the original grant of 12,177 restricted stock units vested on 5/17/2024. |
| 05/23/2024 | Two-thirds of the original grant of 8,140 restricted stock units vested in substantially equal installments on each of 5/23/2024. |
| 09/01/2024 | Date of transaction: Shares withheld to cover tax withholding obligations. |
| 09/04/2024 | Date of Form 4 filing. |
| 05/17/2025 | Balance of 12,177 restricted stock units vests in substantially equal installments on 5/17/2025. |
| 05/23/2025 | Balance of 8,140 restricted stock units vests on 5/23/2025. |
| 06/04/2025 | One-third of the original grant of 16,628 restricted stock units vest on 6/4/2025. |
| 05/17/2026 | Balance of 12,177 restricted stock units vests in substantially equal installments on 5/17/2026. |
| 06/04/2026 | One-third of the original grant of 16,628 restricted stock units vest on 6/4/2026. |
| 06/04/2027 | One-third of the original grant of 16,628 restricted stock units vest on 6/4/2027. |
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