Form 4: Lindsay Corp Executive James Scott Marion Reports Stock Sale and Option Holdings
SEC Form 4
James Scott Marion, President Infrastructure at Lindsay Corp, reported the sale of 700 shares of common stock at $119 per share on July 15, 2024, and disclosed holdings of various stock options.
Summary
- On July 15, 2024, James Scott Marion, President Infrastructure at Lindsay Corp, sold 700 shares of common stock at a price of $119 per share.
- Following the transaction, Marion directly owns 6,278 shares of common stock, which includes restricted stock units.
- The report also corrects a previous error where 433 shares were inadvertently double-counted in a prior Form 4 filing.
- Marion holds multiple options to purchase common stock at various exercise prices and expiration dates.
- These options vest in annual installments, with vesting periods beginning as early as November 1, 2018, and extending to November 1, 2024.
- The options have exercise prices ranging from $90.71 to $156.16.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing related to an insider stock transaction. It doesn't inherently convey positive or negative sentiment about the company's performance or prospects.
Industry Context
Executive stock transactions are routinely monitored by investors as they can provide insights into management's perspective on the company's valuation and future prospects. However, single transactions are not always indicative of a trend.
Comparison to Industry Standards
- Executive compensation and stock option grants are common practices in publicly traded companies like Lindsay Corp.
- Comparing the vesting schedules and exercise prices of Marion's options to those of executives at similar companies in the infrastructure or irrigation sectors (e.g., Valmont Industries, Deere & Company) would provide a benchmark for assessing the competitiveness and alignment of executive incentives.
- Analyzing the frequency and size of insider sales at Lindsay Corp relative to its peers can offer insights into the overall sentiment of company leadership.
Stakeholder Impact
- The stock sale may have a minor impact on shareholders, depending on their interpretation of the transaction.
- The correction of the double-counting error ensures accurate reporting to stakeholders.
Key Dates
| Date | Description |
|---|---|
| 2018-01-30 | Date of Power of Attorney execution. |
| 2018-11-01 | Earliest vesting date for some stock options. |
| 2019-11-01 | Vesting date for some stock options. |
| 2020-11-01 | Vesting date for some stock options. |
| 2021-11-01 | Vesting date for some stock options. |
| 2022-11-01 | Vesting date for some stock options. |
| 2023-11-01 | Vesting date for some stock options. |
| 2024-07-15 | Date of stock sale transaction. |
| 2024-11-01 | Future vesting date for some stock options. |
| 2028-01-30 | Expiration date for some stock options. |
| 2028-10-22 | Expiration date for some stock options. |
| 2029-10-31 | Expiration date for some stock options. |
| 2030-10-26 | Expiration date for some stock options. |
| 2031-10-25 | Expiration date for some stock options. |
| 2032-10-24 | Expiration date for some stock options. |
| 2033-10-23 | Expiration date for some stock options. |
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