Form 4: Haverty Furniture Companies Inc: CEO Clarence H. Smith Reports Stock Transactions
SEC Form 4
Clarence H. Smith, Chairman & CEO of Haverty Furniture Companies Inc, reports the vesting of restricted stock units and performance restricted stock units, resulting in changes to his beneficial ownership of company stock.
Summary
- Clarence H. Smith, Chairman & CEO of Haverty Furniture Companies Inc, filed a Form 4 detailing changes in his beneficial ownership.
- On May 8, 2024, Smith vested 2,201 shares from 2021 RSUs, 2,631 shares from 2022 RSUs, and 2,419 shares from 2023 RSUs.
- He also disposed of 3,082 shares to cover tax obligations at a price of $28.58 per share.
- Following these transactions, Smith directly owns 68,346 shares of common stock, 112,036 shares of Class A common stock, and indirectly owns shares through a Georgia Limited Partnership, his spouse, and Villa Clare, LP.
- He also holds various performance-based restricted stock units (PRSUs) that will vest in the future.
Sentiment
Score: 5
Explanation: This is a routine regulatory filing, and the transactions are part of a standard executive compensation plan. Therefore, the sentiment is neutral.
Industry Context
This filing is a routine disclosure related to executive compensation and stock ownership, common in publicly traded companies. It provides transparency to investors regarding the holdings and transactions of key company personnel.
Stakeholder Impact
- The transactions have a minimal direct impact on stakeholders.
- The filing provides transparency to shareholders regarding executive stock ownership.
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 |
| 05/08/2022 | First vesting date for 2021 RSUs |
| 01/26/2023 | Restricted Stock Units and Performance Restricted Stock Units granted |
| 05/08/2023 | First vesting date for 2022 RSUs |
| 01/25/2024 | Restricted Stock Units granted, vesting ratably over 3 years beginning 5/8/2025 |
| 05/08/2024 | Transaction Date: Vesting of RSUs from 2021, 2022, and 2023 grants |
| 05/08/2024 | First vesting date for 2023 RSUs |
| 05/10/2024 | Date of Form 4 filing |
| 05/08/2025 | First vesting date for 2024 RSUs |
| 02/28/2025 | Vesting date for 2022 PRSUs |
| 02/28/2026 | Vesting date for 2023 PRSUs |
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