Form 4: Griffon Corp President and COO Sells Shares Under 10b5-1 Plan

Robert F. Mehmel, President and COO of Griffon Corporation, sold 8,697 shares of common stock at an average price of $70.10 per share on November 11, 2024, under a pre-arranged 10b5-1 trading plan.

Summary

• Robert F. Mehmel, the President and COO of Griffon Corporation, executed a sale of 8,697 shares of the company's common stock on November 11, 2024.
• The shares were sold at a weighted average price of $70.10 per share, with individual transaction prices ranging from $70.00 to $70.76.
• This transaction was conducted under a pre-arranged trading plan that satisfies the affirmative defense conditions of Rule 10b5-1(c).
• Following the sale, Mr. Mehmel directly owns 737,914 shares of Griffon Corporation common stock.
• He also indirectly owns 3,999 shares through an ESOP.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing related to an insider stock sale under a pre-arranged plan, which is neither positive nor negative.

Industry Context

This is a routine filing related to insider trading activity and is common for executives of publicly traded companies. The use of a 10b5-1 plan is a common practice to avoid accusations of insider trading.

Comparison to Industry Standards

• The use of a 10b5-1 trading plan is a standard practice among executives at publicly traded companies to manage their personal finances while avoiding potential insider trading issues.
• Similar filings are regularly made by executives at companies like Honeywell, General Electric, and 3M, when they execute pre-planned stock transactions.

Stakeholder Impact

• The stock sale by a key executive may have a minor impact on investor sentiment, but the use of a 10b5-1 plan mitigates concerns about insider trading.

Key Dates

Keywords

Griffon Corporation, Robert F. Mehmel, insider trading, stock sale, Form 4, 10b5-1 plan, executive transaction