Form 4: Kimball Electronics Officer Douglas Hass Reports Changes in Beneficial Ownership
SEC Form 4
Douglas Hass, CL&CO and Secretary of Kimball Electronics, reports acquisition and disposal of common stock and restricted shares on August 29, 2024, according to a Form 4 filing.
Summary
- On August 29, 2024, Douglas Hass, CL&CO and Secretary of Kimball Electronics, reported changes in beneficial ownership of the company's securities.
- The transactions included the acquisition of 5,223 shares of common stock and the disposal of 9,591 shares.
- These transactions were related to the vesting of restricted shares and the withholding of shares to satisfy tax obligations.
- Hass also acquired 9,562 restricted shares that vest in August 2025, August 2026, and August 2027.
- Following these transactions, Hass directly owns 11,343 shares of common stock and 13,723 restricted shares.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing, so the sentiment is neutral.
Positives
- The granting of restricted shares to Mr. Hass could be seen as a positive sign, aligning his interests with the long-term performance of the company.
Future Outlook
The reporting person will continue to file Forms 3, 4, and 5 with respect to holdings and transactions in Kimball Electronics securities until no longer required.
Industry Context
Form 4 filings are a routine part of compliance for corporate insiders and provide transparency into their transactions in company stock.
Stakeholder Impact
- Shareholders are informed about insider transactions, promoting transparency.
Key Dates
| Date | Description |
|---|---|
| 2021/11/30 | Date of Limited Power of Attorney execution. |
| 2024/08/29 | Date of transactions: acquisition and disposal of common stock and restricted shares, and vesting of restricted shares. |
| 2024/08/29 | Date of Talent, Culture, and Compensation Committee certification of performance criteria. |
| 2024/09/03 | Date of signature of the report by Kimberly E. Cooper, Attorney in Fact and Agent. |
| 2025/08 | Vesting date for 3,188 restricted shares. |
| 2026/08 | Vesting date for 3,187 restricted shares. |
| 2027/08 | Vesting date for 3,187 restricted shares. |
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