Form 4: Graham Corp Executive Matthew Malone Reports Stock Disposals to Cover Tax Obligations
SEC Form 4 Filing
Matthew Malone, VP & GM of Barber-Nichols at Graham Corporation, reported disposing of shares to cover tax withholding obligations upon the vesting of restricted stock awards.
Summary
- On June 1, 2024, Matthew Malone, VP & GM of Barber-Nichols at Graham Corporation, disposed of 391 shares of common stock at $27.05 to cover tax obligations related to a restricted stock award vesting on June 1, 2021.
- Additionally, Malone disposed of 2,347 shares of common stock at $27.05 to cover tax obligations related to a performance stock award also granted on June 1, 2021.
- Following these transactions, Malone directly owns 41,235 shares of Graham Corporation common stock.
- Malone also holds 3,053 and 4,749 restricted stock units that convert into common stock on a one-for-one basis, vesting at various dates in the future.
Sentiment
Score: 5
Explanation: This is a routine filing related to stock transactions for tax purposes, so the sentiment is neutral.
Industry Context
Form 4 filings are standard disclosures required by the SEC when company insiders, like officers and directors, trade their company's stock. These filings provide transparency into the transactions of those with access to non-public information.
Stakeholder Impact
- The transactions have a minimal impact on stakeholders as they are related to tax obligations and do not represent a significant change in ownership.
Key Dates
| Date | Description |
|---|---|
| 06/01/2021 | Date of original grant of restricted stock award and performance stock award. |
| 05/23/2023 | First vesting date for two-thirds of the original grant of restricted stock units. |
| 05/23/2024 | Second vesting date for two-thirds of the original grant of restricted stock units. |
| 05/17/2024 | First vesting date for one-third of the original grant of restricted stock units. |
| 05/23/2025 | Final vesting date for two-thirds of the original grant of restricted stock units. |
| 05/17/2025 | Second vesting date for one-third of the original grant of restricted stock units. |
| 05/17/2026 | Final vesting date for one-third of the original grant of restricted stock units. |
| 06/01/2024 | Date of stock disposal to cover tax obligations. |
| 06/04/2024 | Date of Form 4 filing. |
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