Form 4: Johnson & Johnson CFO Joseph Wolk Reports Stock Transactions
SEC Form 4 Filing
Executive VP and CFO of Johnson & Johnson, Joseph Wolk, reports multiple transactions involving common stock and restricted/performance share units.
Summary
- Joseph Wolk, Executive VP and CFO of Johnson & Johnson, filed a Form 4 detailing changes in beneficial ownership.
- The transactions include the vesting and conversion of Restricted Share Units (RSUs) and Performance Share Units (PSUs) into common stock.
- Shares were also withheld for payment of taxes upon the vesting of RSUs and PSUs.
- Wolk acquired shares through the vesting of 1,779 RSUs on February 13, 2025, 4,014 RSUs on February 14, 2025 and 1,971 RSUs on February 15, 2025.
- He also acquired 15,316 shares through the vesting of PSUs on February 14, 2025.
- Wolk disposed of shares to cover tax obligations related to the vesting of these units, with 507 shares sold at $155.26, 1,144 shares at $156.71, 768 shares at $156.15 and 6,661 shares at $156.71.
- Following these transactions, Wolk directly owns 5,345 shares of common stock and indirectly owns 68,835 shares through a spousal lifetime access trust and 2,113 shares through a 401k.
Sentiment
Score: 5
Explanation: The document reflects routine executive stock transactions, indicating a neutral sentiment.
Industry Context
Form 4 filings are a routine part of executive compensation and provide transparency into the trading activities of company insiders. These filings are closely watched by investors to gauge management's sentiment and alignment with shareholder interests.
Comparison to Industry Standards
- Executive compensation packages at companies like Johnson & Johnson typically include a mix of salary, stock options, restricted stock units, and performance-based incentives.
- The vesting schedules and terms of these equity awards are generally aligned with industry best practices to incentivize long-term value creation.
- Companies like Pfizer, Merck, and AbbVie also utilize similar equity-based compensation plans for their executives.
Key Dates
| Date | Description |
|---|---|
| 01/31/2025 | Plan's most recent reporting date for shares accrued due to dividend reinvestment in the Johnson & Johnson Stock Fund under the Johnson & Johnson Savings Plan. |
| 02/13/2023 | Date of RSU award that vests in three annual equal installments beginning on the first anniversary of the grant date. |
| 02/13/2025 | Vesting of 1,779 Restricted Share Units. |
| 02/14/2022 | Date of RSU and PSU awards that vest three years after the date of grant. |
| 02/14/2025 | Vesting of 4,014 Restricted Share Units and 15,316 Performance Share Units. |
| 02/15/2024 | Date of RSU award that vests in three annual equal installments beginning on the first anniversary of the grant date. |
| 02/15/2025 | Vesting of 1,971 Restricted Share Units. |
| 02/18/2025 | Date of Form 4 signature. |
Keywords
Form 4, beneficial ownership, stock transactions, Joseph Wolk, Johnson & Johnson, JNJ, RSU, PSU, CFO
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