Form 4: Graham Corp CFO Christopher J. Thome Reports Stock Transactions
SEC Form 4 Filing
Christopher J. Thome, CFO of Graham Corporation, reports the vesting of restricted stock units and subsequent tax withholding, resulting in changes to his beneficial ownership of company stock.
Summary
- On May 23, 2024, Christopher J. Thome, the VP-Finance and CFO of Graham Corporation, reported transactions involving common stock and restricted stock units.
- 2,951 restricted stock units vested and converted into common stock.
- 1,061 shares were withheld to cover tax obligations at a price of $28.44 per share.
- Following these transactions, Thome directly owns 16,880 shares of common stock and 7,700 restricted stock units.
Sentiment
Score: 5
Explanation: This is a routine filing related to executive compensation, with no inherent positive or negative implications for the company's performance.
Industry Context
This filing is a routine disclosure related to executive compensation and stock ownership, common among publicly traded companies.
Comparison to Industry Standards
- Executive compensation packages often include restricted stock units as a way to align management's interests with those of shareholders.
- Vesting schedules and tax withholding practices are standard components of these compensation plans.
- The specific details of Graham Corporation's plan would need to be compared to those of peer companies to assess its competitiveness.
Stakeholder Impact
- The vesting of restricted stock units has a minor dilutive effect on existing shareholders.
- Executive compensation is always of interest to shareholders.
Key Dates
| Date | Description |
|---|---|
| 05/23/2023 | Two-thirds of the original grant of 2,951 restricted stock units vested in substantially equal installments on each of 5/23/2023 and 5/23/2024. |
| 05/17/2024 | One-third of the original grant of 4,749 restricted stock units vested on 5/17/2024. |
| 05/23/2024 | Vesting of 2,951 restricted stock units and tax withholding of 1,061 shares. |
| 05/23/2025 | The balance of the original grant of 2,951 restricted stock units vests on 5/23/2025. |
| 05/17/2025 | The balance of the original grant of 4,749 restricted stock units vests in substantially equal installments on 5/17/2025 and 5/17/2026. |
| 05/17/2026 | The balance of the original grant of 4,749 restricted stock units vests in substantially equal installments on 5/17/2025 and 5/17/2026. |
| 05/28/2024 | Date of signature for the Form 4 filing. |
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