Form 4: Manitowoc CFO Brian Regan Reports Changes in Beneficial Ownership

EVP & Chief Financial Officer of Manitowoc, Brian P Regan, reports acquisition and disposal of common stock due to settlement of performance share units and tax withholding obligations.

Summary

• Brian P Regan, EVP & Chief Financial Officer of The Manitowoc Company Inc, filed a Form 4 on February 28, 2024, reporting changes in beneficial ownership of the company's common stock.
• On February 26, 2024, Regan acquired 15,561 shares of common stock through the settlement of performance share units.
• Also on February 26, 2024, Regan disposed of 7,305 shares at $13.33 to cover tax obligations related to the settled performance share units.
• An additional 1,365 shares were disposed of at $13.33 to cover tax obligations on previously reported restricted stock units.
• Following these transactions, Regan directly owns 76,434 shares of Manitowoc common stock.
• Regan also holds 4,172 Officer Non-Qualified Options.

Sentiment

Score: 5

Explanation: The sentiment is neutral as the filing primarily reflects routine transactions related to executive compensation and tax obligations.

Positives

• The acquisition of shares through performance share unit settlement suggests that the company met certain performance goals.

Negatives

• The disposal of shares to cover tax obligations reduces Regan's overall holdings in the company.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This filing indicates the CFO's recent stock activity related to compensation and tax obligations.

Stakeholder Impact

• The transactions may have a minor impact on shareholders due to the change in insider ownership.

Key Dates