Form 4: Jack in the Box Executive Richard D. Cook Reports Stock Transactions
SEC Form 4 Filing
Jack in the Box's SVP, Chief Technology Officer, Richard D. Cook, reported the acquisition and sale of company stock related to vesting of performance shares and restricted stock units.
Summary
- Richard D. Cook, SVP and Chief Technology Officer at Jack in the Box, filed a Form 4 detailing changes in his beneficial ownership of company stock.
- On December 20, 2024, Mr. Cook acquired 2,910 shares of common stock as part of performance-based vesting.
- On December 23, 2024, he sold 880 shares at $40.52 per share to cover tax obligations related to the vesting of performance shares.
- Additionally, on December 23, 2024, he sold 177 shares and 292 shares at $40.52 per share to cover tax obligations related to the vesting of restricted stock units.
- Following these transactions, Mr. Cook's direct holdings decreased to 16,237 shares.
Sentiment
Score: 7
Explanation: The document reflects routine transactions related to executive compensation. There is no indication of any negative or positive sentiment, it is a neutral event.
Positives
- The vesting of performance shares indicates that pre-established performance goals were met for the 2022-2024 period.
Industry Context
This is a routine filing related to executive compensation and is common for publicly traded companies. It reflects the vesting of equity awards and the subsequent sale of shares to cover tax liabilities.
Comparison to Industry Standards
- The use of performance shares and restricted stock units is a common practice in executive compensation packages across the restaurant and broader corporate sectors.
- Automatic sell-to-cover policies for tax obligations are also standard practice to simplify the process for executives and ensure compliance.
Stakeholder Impact
- The transactions have a minor impact on shareholders as they reflect routine executive compensation practices.
Key Dates
| Date | Description |
|---|---|
| 12/20/2024 | Richard D. Cook acquired 2,910 shares of common stock due to performance-based vesting. |
| 12/23/2024 | Richard D. Cook sold 1,349 shares of common stock at $40.52 per share to cover tax obligations. |
Keywords
Form 4, insider trading, stock transaction, beneficial ownership, performance shares, restricted stock units, tax withholding, Jack in the Box, Richard D. Cook
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