Form 4: Haemonetics CEO Christopher Simon Transfers Shares to Family Trust in Asset Substitution

Haemonetics CEO Christopher Simon transferred 39,704 shares of company stock to a family trust in exchange for cash, according to a recent SEC filing.

Summary

• On August 29, 2024, Christopher Simon, the President & CEO of Haemonetics Corp, transferred 39,704 shares of Haemonetics common stock to the Simon Family Irrevocable Trust.
• The transfer was an asset substitution transaction, with Mr. Simon receiving $3,000,034 in cash in exchange for the shares.
• The price per share was determined by averaging the high and low sales prices of Haemonetics common stock on the New York Stock Exchange on August 29, 2024, resulting in a price of $75.56 per share.
• Following the transaction, Mr. Simon directly owns 322,838 shares of Haemonetics, which includes unvested restricted stock units.
• The transaction was conducted in accordance with the terms of the trust, which has an independent trustee.

Sentiment

Score: 5

Explanation: Neutral sentiment as it's a standard disclosure of an insider transaction. It doesn't inherently reflect positive or negative sentiment about the company's performance.

Industry Context

This filing is a routine disclosure of insider transactions and doesn't necessarily indicate a change in the company's outlook or performance. It reflects personal financial planning by the CEO.

Related Party Transactions

• Christopher Simon transferred shares to the Simon Family Irrevocable Trust, a related party.

Stakeholder Impact

• The transaction has minimal direct impact on stakeholders as it is a personal transaction by the CEO.

Key Dates