Form 4: Haverty Furniture Companies Executive VP Clary J Edward Reports Stock Transactions
SEC Form 4
Executive VP & CIO of Haverty Furniture Companies, J Edward Clary, reports the vesting and subsequent disposal of restricted stock units (RSUs) and performance restricted stock units (PRSUs) on May 8, 2024, while retaining a significant number of shares.
Summary
- On May 8, 2024, J Edward Clary, Executive VP & CIO of Haverty Furniture Companies, reported transactions involving common stock and derivative securities.
- Clary acquired shares through the vesting of Restricted Stock Units (RSUs) from grants in 2021, 2022, and 2023, totaling 830, 858, and 923 shares respectively.
- These RSUs vest ratably over 3 years beginning May 8th of each subsequent year after the grant date.
- Clary also disposed of 977 shares of common stock at a price of $28.58.
- Following these transactions, Clary directly owns 47,872 shares of Haverty Furniture Companies stock.
- Clary also holds various unvested RSUs and PRSUs granted in 2022, 2023 and 2024, which will vest in future years based on continued service and, for PRSUs, achievement of performance metrics related to EBITDA and consolidated sales.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing stock transactions. It doesn't inherently convey positive or negative sentiment, but rather provides factual information.
Future Outlook
The document indicates future vesting dates for RSUs and PRSUs, contingent on continued service and performance metrics.
Industry Context
This filing is a routine disclosure of stock transactions by a company executive, which is common in publicly traded companies. It provides transparency to investors regarding insider activity.
Stakeholder Impact
- The transactions may have a minor impact on shareholders due to the change in ownership, but the overall impact is likely minimal.
Key Dates
| Date | Description |
|---|---|
| 01/21/2021 | Restricted Stock Units granted, vesting ratably over 3 years beginning 5/8/2022. |
| 01/26/2022 | Restricted Stock Units and Performance Restricted Stock Units granted, vesting ratably over 3 years beginning 5/8/2023 and on February 28, 2025 respectively. |
| 01/26/2023 | Restricted Stock Units and Performance Restricted Stock Units granted, vesting ratably over 3 years beginning 5/8/2024 and on February 28, 2026 respectively. |
| 01/25/2024 | Restricted Stock Units granted, vesting ratably over 3 years beginning 5/8/2025. |
| 05/08/2024 | Date of earliest transaction: vesting of RSUs and disposal of shares. |
| 05/10/2024 | Date of filing. |
| 02/28/2025 | Vesting date for PRSUs granted 1/26/2022. |
| 05/08/2025 | Vesting start date for RSUs granted 1/25/2024. |
| 02/28/2026 | Vesting date for PRSUs granted 1/26/2023. |
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