Form 4: La-Z-Boy Exec Leggett Exercises Options and Sells Shares
SEC Form 4 Filing
La-Z-Boy's Senior VP and Chief Supply Chain Officer, Michael Adam Leggett, exercised stock options and sold shares on March 21, 2024.
Summary
- Michael Adam Leggett, Sr VP & Chief Supply Chain Officer of La-Z-Boy Inc., executed transactions involving the company's stock on March 21, 2024.
- Leggett exercised employee stock options to acquire 3,955 common shares at a price of $24.41 per share.
- Simultaneously, Leggett sold 3,077 common shares at a weighted average price of $37.0775, with individual sales ranging from $37.0500 to $37.1050.
- Following these transactions, Leggett directly owns 21,519 common shares and holds options for 11,868 shares.
Sentiment
Score: 5
Explanation: This is a neutral event. It's a standard insider transaction, with no clear positive or negative implications for the company's performance.
Industry Context
This Form 4 filing is a routine disclosure of insider transactions, providing transparency to investors regarding the actions of company executives. It's common for executives to exercise stock options and sell shares for personal financial management.
Stakeholder Impact
- The transaction provides transparency to shareholders regarding executive stock transactions.
Key Dates
| Date | Description |
|---|---|
| 06/28/2023 | Date from which employee stock options become exercisable in four equal annual installments. |
| 03/21/2024 | Date of transaction: exercise of stock options and sale of common shares. |
| 03/22/2024 | Date of signature by Attorney-in-Fact. |
| 06/28/2032 | Expiration date of the employee stock options. |
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