Form 4: Glatfelter Corp Executive Shettigar Ramesh Reports Stock Transactions
SEC Form 4 Filing
Senior VP, CFO & Treasurer of Glatfelter Corp, Ramesh Shettigar, reports acquisition and disposal of common stock and restricted stock units.
Summary
- On May 12, 2024, Ramesh Shettigar, Senior VP, CFO & Treasurer of Glatfelter Corp, reported transactions involving the company's stock.
- Shettigar acquired 4,750 shares of common stock at a price of $1.63.
- 1,550 shares were disposed of to satisfy tax obligations at a price of $1.63.
- Shettigar also acquired 102 restricted stock units (RSUs) representing dividend equivalents.
- Additionally, 4,750 restricted stock units vested.
- Following these transactions, Shettigar directly owns 45,151 shares of common stock and 4,851 restricted stock units.
Sentiment
Score: 5
Explanation: The sentiment is neutral as the document simply reports transactions without indicating a strong positive or negative outlook.
Positives
- The vesting of RSUs and acquisition of shares could be seen as a positive sign of the executive's confidence in the company.
Negatives
- The disposal of shares to cover tax obligations could be interpreted as a need for liquidity, although it's a common practice.
Risks
- There are no specific risks mentioned in this document.
- However, insider transactions are always subject to scrutiny and potential legal challenges if not conducted properly.
Future Outlook
There is no future outlook provided in this document.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. These filings are closely watched by investors seeking insights into management's perspective on the company's stock.
Comparison to Industry Standards
- Form 4 filings are standard practice for publicly traded companies and their executives.
- The transactions reported are typical for executives who receive stock-based compensation and manage their tax obligations.
- Comparable companies such as Domtar or Resolute Forest Products would have similar filings when their executives trade company stock.
Stakeholder Impact
- The transactions may have a minor impact on shareholders by slightly altering the ownership structure.
- The impact on employees, customers, suppliers, and creditors is likely negligible.
Key Dates
| Date | Description |
|---|---|
| 05/12/2022 | Date of the RSU Promotion Grant on which dividend equivalents accrued. |
| 05/12/2023 | Grant date of the restricted stock units that vest in full three years from this date. |
| 05/10/2024 | Closing price of this day was used to determine the value of shares because the payout occurred on a Sunday, May 12, 2024. |
| 05/12/2024 | Date of the reported transactions: acquisition and disposal of common stock and restricted stock units. |
| 05/12/2025 | Expiration date of the restricted stock units. |
| 05/14/2024 | Date of signature by Jill L. Urey, Attorney-in-fact. |
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