Form 4: Knowles Corp CEO Jeffrey Niew Disposes of Shares to Cover Tax Obligations
SEC Form 4 Filing
Knowles Corp CEO Jeffrey Niew disposed of shares on February 6th and 7th, 2025, to cover tax liabilities associated with vesting restricted stock grants.
Summary
- Jeffrey Niew, the President and CEO of Knowles Corp, reported the disposal of common stock to cover tax liabilities.
- On February 6, 2025, 13,820 shares were disposed of at a price of $18.56.
- On February 7, 2025, 11,631 shares were disposed of at a price of $18.22.
- These disposals were related to the vesting of restricted stock grants issued on February 6, 2023, and February 7, 2022, respectively.
- Following these transactions, Niew directly owns 795,247 shares of Knowles Corp common stock.
Sentiment
Score: 5
Explanation: This is a neutral event related to standard executive compensation practices; it doesn't indicate positive or negative sentiment about the company's performance.
Industry Context
This is a routine transaction related to executive compensation and tax obligations, common among publicly traded companies.
Comparison to Industry Standards
- Similar transactions are common among executives at publicly traded companies like Knowles Corp, such as Texas Instruments, Cirrus Logic, and Analog Devices, where stock-based compensation is a significant part of their overall pay packages.
- These companies also use similar mechanisms, like withholding shares, to cover tax liabilities upon vesting of restricted stock units.
Stakeholder Impact
- The transaction has a minimal impact on shareholders as it is a routine disposal of shares for tax purposes and does not reflect a change in the executive's overall confidence in the company.
Key Dates
| Date | Description |
|---|---|
| 02/06/2023 | Date of restricted stock grant related to the February 6, 2025 transaction. |
| 02/07/2022 | Date of restricted stock grant related to the February 7, 2025 transaction. |
| 02/06/2025 | Date of first stock disposal to cover tax liability. |
| 02/07/2025 | Date of second stock disposal to cover tax liability. |
| 02/10/2025 | Date of report filing. |
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