Form 4: Leggett & Platt CEO Gifts Shares to Revocable Trust

Leggett & Platt CEO Karl Glassman transferred 514,335 shares of common stock to his revocable living trust.

Summary

• Karl G. Glassman, President and CEO, and a Director of Leggett & Platt Inc. (LEG), reported a change in beneficial ownership.
• On September 4, 2025, Glassman executed a gift of 514,335 shares of common stock to his revocable living trust.
• The transaction involved a disposition of 514,335 shares from his direct ownership and a corresponding acquisition of 514,335 shares by the Glassman Living Trust, both at a price of $0.
• This transaction was made pursuant to a contract, instruction, or written plan intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).
• Following the reported transaction, Glassman directly beneficially owns 914,226.5038 shares of common stock.
• Indirect beneficial ownership includes 514,335 shares held by the Glassman Living Trust and 28,497.442 shares held in trust under the issuer's retirement plan.

Sentiment

Score: 5

Explanation: Neutral. The transaction is a routine estate planning move by the CEO and does not reflect positively or negatively on the company's operational performance or future prospects. It is a re-titling of ownership for personal financial management.

Positives

• The transfer of shares to a revocable living trust is a standard estate planning strategy, demonstrating prudent personal financial management by the CEO.
• The shares remain beneficially owned by the CEO, albeit indirectly, indicating continued alignment of his interests with those of other shareholders.

Future Outlook

The filing does not contain any forward-looking statements or guidance regarding the company's future performance or strategic direction.

Industry Context

This filing reports a routine insider transaction related to personal estate planning by the CEO, which is not directly indicative of broader industry trends or competitive dynamics. Such transfers are common among executives for wealth management purposes.

Stakeholder Impact

• Shareholders: The transaction has no direct impact on the company's operations, financial health, or strategic direction. It confirms the CEO's continued beneficial ownership, albeit through a trust, maintaining alignment of interests.

Key Dates

Recommendation

The filing details a routine estate planning transaction by the CEO, transferring shares to a revocable living trust under a 10b5-1 plan. This action does not indicate any change in the company's fundamentals, operational performance, or strategic direction. As such, it provides no new information to warrant a change in investment recommendation based solely on this filing.

Keywords

Leggett & Platt, LEG, Karl Glassman, Insider Transaction, Form 4, Beneficial Ownership, Stock Gift, Estate Planning, CEO, Director, 10b5-1 Plan