Form 4: LKQ Corp Executive Advisor Dominick P Zarcone Reports Tax Withholding Share Disposal

Dominick P Zarcone, Executive Advisor at LKQ Corp, reports disposition of shares to cover tax obligations upon vesting of restricted stock units.

Summary

• On September 3, 2024, Dominick P Zarcone, Executive Advisor of LKQ Corp, disposed of 7,059.97 shares of common stock to cover tax withholding requirements.
• The shares were withheld by the issuer at a price of $41.35 per share.
• Following the transaction, Zarcone directly owns 379,462.03 shares of LKQ Corp common stock and indirectly owns 1,600 shares through his wife.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction related to executive compensation and tax obligations, which is neither particularly positive nor negative. The sentiment is neutral.

Industry Context

This is a routine transaction related to executive compensation and tax obligations. It is common for companies to withhold shares to cover taxes upon the vesting of restricted stock units.

Comparison to Industry Standards

• Share withholding for tax obligations is a standard practice across publicly traded companies.
• The amount withheld is dependent on the individual's tax bracket and the value of the vested shares.
• Comparable companies like Genuine Parts Company (GPC) and Advance Auto Parts (AAP) also utilize similar methods for handling executive compensation and tax obligations.

Stakeholder Impact

• The transaction has a minimal impact on shareholders as it is a routine disposal of shares for tax purposes.

Key Dates