Form 4: Lindsay Corp. CFO Brian Ketcham Reports Stock Transactions
SEC Form 4
Brian Ketcham, Senior Vice President and CFO of Lindsay Corporation, reports the acquisition and disposal of common stock, including shares acquired upon vesting of performance stock units and shares withheld for tax obligations.
Summary
- On November 1, 2024, Brian Ketcham, the Senior Vice President and CFO of Lindsay Corporation, reported transactions involving the company's common stock.
- He acquired 1,455 shares of common stock upon the vesting of performance stock units at a price of $0.
- He disposed of 1,027 shares of common stock to satisfy tax withholding obligations at a price of $119.79.
- Following these transactions, Mr. Ketcham directly owns 13,621 shares of common stock and indirectly owns 1,410 shares through his spouse.
- Mr. Ketcham also holds options to purchase various amounts of common stock at prices ranging from $78.23 to $156.16, which vest in installments over several years.
Sentiment
Score: 6
Explanation: The sentiment is neutral. It's a routine filing indicating stock transactions related to compensation and tax obligations. There's no strong positive or negative signal.
Positives
- The acquisition of shares through vesting indicates confidence in the company's performance.
Negatives
- The disposal of shares to cover tax obligations could be perceived negatively, although it's a common practice.
Risks
- There are no specific risks mentioned in this document, as it primarily reports stock transactions.
Industry Context
Form 4 filings are a routine part of regulatory compliance for publicly traded companies, providing transparency into insider transactions. These filings are closely watched by investors seeking insights into management's perspective on the company's stock.
Comparison to Industry Standards
- Monitoring insider transactions is a standard practice across publicly listed companies.
- Companies like Deere & Company (DE) and AGCO Corporation (AGCO), which operate in related industries, also have similar reporting requirements for their executives.
- The vesting schedules and option grants are typical compensation components for executives in publicly traded companies.
Stakeholder Impact
- Shareholders may be interested in these transactions as they provide insight into management's holdings and actions.
Key Dates
| Date | Description |
|---|---|
| October 9, 2017 | Date of Power of Attorney execution. |
| November 1, 2017 | Option to Purchase vests in four equal annual installments, which began on November 1, 2017. |
| November 1, 2020 | Option to Purchase vests in three equal annual installments, which began on November 1, 2020. |
| November 1, 2021 | Option to Purchase vests in three equal annual installments, which began on November 1, 2019. |
| November 1, 2021 | Option to Purchase vests in four equal annual installments, which began on November 1, 2018. |
| November 1, 2022 | The option vested in three equal annual installments, which began on November 1, 2022. |
| November 1, 2023 | The option vests in three equal annual installments, which began on November 1, 2023. |
| November 1, 2024 | Date of the reported transactions (acquisition and disposal of shares). |
| November 1, 2024 | The option vests in three equal annual installments, which began on November 1, 2024. |
| November 1, 2025 | The option vests in three equal annual installments beginning on November 1, 2025. |
| November 5, 2024 | Date of signature by attorney-in-fact. |
| October 21, 2026 | Expiration date for one of the Option to Purchase grants. |
| October 22, 2028 | Expiration date for one of the Option to Purchase grants. |
| October 31, 2027 | Expiration date for one of the Option to Purchase grants. |
| October 31, 2029 | Expiration date for one of the Option to Purchase grants. |
| October 26, 2030 | Expiration date for one of the Option to Purchase grants. |
| October 25, 2031 | Expiration date for one of the Option to Purchase grants. |
| October 24, 2032 | Expiration date for one of the Option to Purchase grants. |
| October 23, 2033 | Expiration date for one of the Option to Purchase grants. |
| October 28, 2034 | Expiration date for one of the Option to Purchase grants. |
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