Form 4: Haverty Furniture Companies Director Michael R. Cote Reports Acquisition of Phantom Stock
SEC Form 4 Filing
Director Michael R. Cote reports acquisition of phantom stock units under the Directors' Deferred Compensation Plan.
Summary
- On May 6, 2024, Michael R. Cote, a director of Haverty Furniture Companies Inc., acquired 6,015 units of phantom stock at a price of $29.48 each.
- These units were acquired under the Directors' Deferred Compensation Plan.
- Cote also disposed of 1,388 shares of common stock.
- Following the transaction, Cote directly owns 11,489 derivative securities.
- The settlement of the phantom stock will occur as prescribed by the elections under the Plan.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing detailing a transaction in company stock by a director. It doesn't inherently convey positive or negative sentiment.
Future Outlook
Settlement of the phantom stock will occur as prescribed by the elections under the Directors' Deferred Compensation Plan.
Industry Context
This filing reflects standard executive compensation practices, where phantom stock is used as a form of deferred compensation for directors.
Stakeholder Impact
- The transaction may have a minor impact on shareholders due to the change in ownership of common stock and derivative securities.
Key Dates
| Date | Description |
|---|---|
| 05/06/2024 | Date of transaction: acquisition of phantom stock and disposal of common stock |
| 05/07/2024 | Date of signature by Attorney-in-Fact |
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.