Form 4: Intuit Executive Kerry J. McLean Reports Stock Transactions
SEC Form 4 Filing
Kerry J. McLean, an executive at Intuit Inc., reported the acquisition and disposal of company stock and restricted stock units on December 12, 2024.
Summary
- Kerry J. McLean, an Executive Vice President at Intuit Inc., filed a Form 4 detailing transactions involving Intuit common stock and restricted stock units.
- On December 12, 2024, McLean acquired a total of 263 shares of common stock through the vesting of restricted stock units.
- These shares were acquired at a price of $0, and then 263 shares were disposed of at $672.25 per share.
- McLean also acquired various restricted stock units, including performance-based units and MSPP matching units, which vest on different dates.
- The vesting of some restricted stock units was accelerated to accommodate tax obligations related to McLean's retirement eligibility.
Sentiment
Score: 5
Explanation: The document is a neutral report of stock transactions, with no indication of positive or negative sentiment. It is a routine filing.
Positives
- The accelerated vesting of restricted stock units indicates a potential benefit for the executive related to retirement planning.
Industry Context
This filing is a routine disclosure of stock transactions by a company executive, which is common practice in publicly traded companies. It provides transparency into executive compensation and stock ownership.
Comparison to Industry Standards
- Form 4 filings are standard practice for publicly traded companies in the US, and Intuit's filing is consistent with these requirements.
- The vesting schedules and performance-based criteria for restricted stock units are common compensation practices among technology companies like Intuit, similar to companies such as Adobe, Microsoft, and Salesforce.
Stakeholder Impact
- The transactions have a minor impact on shareholders as they reflect routine executive compensation and stock ownership changes.
Key Dates
| Date | Description |
|---|---|
| 12/12/2024 | Date of the reported stock and restricted stock unit transactions. |
| 09/01/2025 | Vesting date for some performance-based restricted stock units. |
| 08/12/2025 | Vesting and settlement date for some MSPP matching restricted stock units. |
| 09/01/2026 | Vesting date for some performance-based restricted stock units. |
| 08/11/2026 | Vesting and settlement date for some MSPP matching restricted stock units. |
| 09/01/2027 | Vesting date for some performance-based restricted stock units. |
| 08/09/2027 | Vesting and settlement date for some MSPP matching restricted stock units. |
| 12/16/2024 | Date the Form 4 was signed. |
Keywords
Form 4, Intuit, Stock Transactions, Restricted Stock Units, Executive Compensation, Insider Trading, Equity Securities, Vesting, Shareholder Return, MSPP
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