Form 4: Lennox International Executive VP Joseph Reitmeier Reports Stock Transactions
SEC Form 4
Executive VP Joseph Reitmeier reports the acquisition and disposal of Lennox International Inc. stock and stock appreciation rights on February 28, 2024.
Summary
- On February 28, 2024, Joseph William Reitmeier, an Executive VP at Lennox International Inc. (LII), reported transactions involving the company's common stock and non-qualified stock appreciation rights.
- Reitmeier acquired 3,334 shares of common stock at $278, 2,039 shares at $328.65, and 1,504 shares at $259.56 through the exercise of stock appreciation rights.
- He also disposed of 4,947 shares at $472.465 and 1,930 shares at $471.475.
- Following these transactions, Reitmeier directly owns 24,533 shares of Lennox International Inc.
- The transactions also involved the exercise of non-qualified stock appreciation rights, with varying exercise prices and expiration dates.
Sentiment
Score: 5
Explanation: This is a neutral report on stock transactions, with no inherent positive or negative sentiment.
Industry Context
This filing is a routine disclosure of stock transactions by a company executive, which is common practice and required by the SEC to ensure transparency and prevent insider trading.
Stakeholder Impact
- The reported transactions may provide stakeholders with insights into the executive's perspective on the company's stock value.
- Significant insider selling could be perceived negatively, while insider buying might be seen as a positive signal.
Key Dates
| Date | Description |
|---|---|
| 12/11/2021 | One third of the Stock Appreciation Rights ($278) became exercisable and each year thereafter. The entire grant became fully exercisable on 12/11/2023. |
| 12/10/2022 | One third of the Stock Appreciation Rights ($328.65) became exercisable and each year thereafter. The entire grant will become fully exercisable on 12/10/2024. |
| 12/09/2023 | One third of the Stock Appreciation Rights ($259.56) became exercisable and each year thereafter. The entire grant will become fully exercisable on 12/09/2025. |
| 02/28/2024 | Date of stock and derivative security transactions. |
| 03/01/2024 | Date of signature for the Form 4 filing. |
| 12/10/2024 | The entire grant of Stock Appreciation Rights ($328.65) will become fully exercisable. |
| 12/09/2025 | The entire grant of Stock Appreciation Rights ($259.56) will become fully exercisable. |
| 12/11/2027 | Expiration date for Non-qualified Stock Appreciation Right ($278). |
| 12/10/2028 | Expiration date for Non-qualified Stock Appreciation Right ($328.65). |
| 12/09/2029 | Expiration date for Non-qualified Stock Appreciation Right ($259.56). |
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