Form 4: ITT Inc. Executive Reports Changes in Beneficial Ownership

Bartlomiej Makowiecki, SVP at ITT Inc., reports transactions involving common stock, including the vesting of restricted stock units and settlement of performance units.

Summary

• On March 4, 2024, Bartlomiej Makowiecki, SVP of Strategy and Business Development at ITT Inc., reported changes in beneficial ownership of ITT Inc. common stock.
• These changes include the acquisition of 2,660 shares of common stock through an award of restricted stock units vesting on March 4, 2027.
• Additionally, 2,040 shares were acquired upon the settlement of performance units granted on September 14, 2021, under the ITT Inc. 2011 Omnibus Incentive Plan.
• 629 shares were withheld to cover the tax liability associated with the settlement of these performance units, calculated based on the average high/low price of ITT Inc.'s common stock on March 4, 2024, at $128.2.
• Following these transactions, Makowiecki beneficially owns 12,371 shares of ITT Inc. common stock.

Sentiment

Score: 6

Explanation: The sentiment is neutral as it reports standard executive compensation transactions. There are no significantly positive or negative implications.

Positives

• The vesting of restricted stock units and settlement of performance units indicate that the executive is incentivized to perform well for the company.

Negatives

• The withholding of shares to cover tax liabilities could be seen as a minor negative, as it reduces the number of shares the executive directly holds.

Risks

• There are no specific risks mentioned in this document.

Industry Context

This filing is a routine disclosure required by the SEC for corporate insiders, and it provides transparency regarding their transactions in the company's stock.

Comparison to Industry Standards

• Form 4 filings are standard practice for publicly traded companies and their executives.
• The transactions reported are typical forms of executive compensation, such as restricted stock units and performance-based equity awards.
• Similar filings are made by executives at comparable companies like Honeywell, General Electric, and 3M.

Stakeholder Impact

• The transactions have a minimal direct impact on stakeholders, as they are related to executive compensation and do not significantly alter the company's financial position.

Key Dates