Form 4: Graham Corp Executive Matthew Malone Reports Stock Transactions
SEC Form 4
Matthew Malone, VP & GM of Barber-Nichols at Graham Corp, reports the vesting of restricted stock units and subsequent tax withholding.
Summary
- On May 17, 2024, Matthew Malone, VP & GM of Barber-Nichols at Graham Corporation, reported transactions involving Graham Corp common stock.
- 2,374 restricted stock units vested and converted into common stock on a one-for-one basis.
- 763 shares were withheld to cover tax obligations at a price of $29.12 per share.
- Following these transactions, Malone directly owns 41,797 shares of Graham Corp common stock and 4,749 restricted stock units.
- Malone also owns 6,106 restricted stock units from a previous grant.
Sentiment
Score: 5
Explanation: The document is a standard SEC Form 4 filing, indicating neutral sentiment as it reports routine transactions related to executive compensation.
Future Outlook
The remaining restricted stock units will vest in installments on future dates.
Industry Context
This filing is a routine disclosure of insider transactions, which are common for executives receiving stock-based compensation. It provides transparency into the executive's holdings and recent activity in the company's stock.
Comparison to Industry Standards
- Stock-based compensation is a common practice among publicly traded companies to align executive interests with shareholder value.
- Vesting schedules, like the one described, are typical for restricted stock unit grants.
- Tax withholding upon vesting is a standard procedure.
Stakeholder Impact
- The transactions have a minor impact on shareholders as they reflect routine executive compensation.
Key Dates
| Date | Description |
|---|---|
| 05/23/2023 | One-third of the original grant of restricted stock units vested. |
| 05/17/2024 | 2,374 restricted stock units vested and converted into common stock; 763 shares withheld for taxes. |
| 05/17/2025 | Next vesting date for a portion of the restricted stock units granted on 5/17/2024. |
| 05/23/2024 | Next vesting date for a portion of the restricted stock units granted on 5/23/2023. |
| 05/17/2026 | Final vesting date for the restricted stock units granted on 5/17/2024. |
| 05/23/2025 | Final vesting date for the restricted stock units granted on 5/23/2023. |
| 05/21/2024 | Date of signature for the Form 4 filing. |
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