Form 4: Graham Corp Executive Matthew Malone Reports Stock Transactions
SEC Form 4 Filing
Matthew Malone, VP & GM of Barber-Nichols at Graham Corp, reports the vesting of restricted stock units and subsequent tax withholding.
Summary
- On May 23, 2024, Matthew Malone, VP & GM of Barber-Nichols at Graham Corporation, reported transactions involving common stock.
- 3,053 restricted stock units vested and converted into common stock.
- 877 shares were withheld to cover tax obligations at a price of $28.44 per share.
- Following these transactions, Malone directly owns 43,973 shares of common stock and 4,749 restricted stock units.
Sentiment
Score: 5
Explanation: The document is a routine disclosure of insider transactions, with neutral sentiment.
Positives
- The vesting of restricted stock units indicates a reward for past performance or continued employment.
Industry Context
Form 4 filings are standard disclosures required by the SEC to provide transparency regarding insider transactions in 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 are common and designed to incentivize long-term commitment.
- Tax withholding upon vesting is a standard practice.
Stakeholder Impact
- Shareholders are informed about executive stock transactions, providing transparency.
Key Dates
| Date | Description |
|---|---|
| 05/23/2023 | Two-thirds of the original grant of 3,053 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 3,053 restricted stock units and tax withholding of 877 shares. |
| 05/17/2025 | Installment vesting date for the balance of the 4,749 restricted stock units. |
| 05/23/2025 | Vesting date for the balance of the 3,053 restricted stock units. |
| 05/17/2026 | Installment vesting date for the balance of the 4,749 restricted stock units. |
| 05/28/2024 | Date of the Form 4 filing. |
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