Form 4: Kimball Electronics COO Steven T. Korn Reports Gift of Shares

Chief Operating Officer of Kimball Electronics, Steven T. Korn, reports gifting a total of 4,000 shares of common stock to charitable organizations.

Summary

• Steven T. Korn, Chief Operating Officer of Kimball Electronics, filed a Form 4 with the SEC.
• The report details the gifting of 3,000 shares of common stock to a charitable organization and 1,000 shares to a charitable education organization on September 5, 2024.
• These transactions were direct gifts, resulting in a decrease in Korn's directly held shares but no change in indirectly held shares.
• Following the reported transactions, Korn directly owns 97,100 shares of Kimball Electronics common stock.
• Korn also indirectly owns 17,182 shares through a retirement fund.
• The report also mentions that Korn holds 51,957 restricted shares that will vest in August of 2025, 2026, 2027 and 2028.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing detailing a gift of shares. It doesn't inherently convey positive or negative sentiment regarding the company's performance or outlook.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. Gifts of shares are not uncommon and can be part of personal financial planning or philanthropic activities.

Stakeholder Impact

• The gifting of shares has a minimal impact on shareholders as it represents a small percentage of the total outstanding shares.
• The charitable organizations receiving the shares benefit from the donation.

Key Dates