Form 4: Manitowoc Co Inc: Executive Jennifer L. Peterson Reports Changes in Beneficial Ownership
SEC Form 4 Filing
Jennifer L. Peterson, EVP, Gen. Counsel & Secretary of Manitowoc Co Inc, reports acquisition and disposal of common stock due to performance share unit settlement and tax withholding.
Summary
- On February 26, 2024, Jennifer L. Peterson, EVP, Gen. Counsel & Secretary of Manitowoc Co Inc, reported changes in beneficial ownership of the company's common stock.
- Peterson acquired 3,323 shares of common stock through the settlement of performance share units at a price of $0.
- She disposed of 1,532 shares and 286 shares of common stock to satisfy tax withholding obligations at a price of $13.33.
- Following these transactions, Peterson beneficially owns 38,623 shares of Manitowoc Co Inc common stock.
- Peterson also holds non-qualified stock options.
Sentiment
Score: 6
Explanation: The sentiment is neutral as the filing reflects routine transactions related to executive compensation and tax obligations.
Positives
- The acquisition of shares through performance share unit settlement indicates that performance goals were met.
Industry Context
Form 4 filings are a routine part of compliance for publicly traded companies, providing transparency into the transactions of company insiders.
Comparison to Industry Standards
- Executive compensation packages often include performance-based equity awards, such as performance share units, to align management's interests with those of shareholders.
- Tax withholding on equity awards is a standard practice.
Stakeholder Impact
- The transactions have a minimal direct impact on stakeholders, as they are related to executive compensation.
Key Dates
| Date | Description |
|---|---|
| 02/20/2019 | Date from which 1,721 Officer Non-Qualified Options become exercisable. |
| 02/27/2021 | Date from which 1,752 Officer Non-Qualified Options become exercisable. |
| 12/31/2023 | Performance period end date for performance share units. |
| 02/20/2028 | Expiration date for 1,721 Officer Non-Qualified Options. |
| 02/27/2029 | Expiration date for 1,752 Officer Non-Qualified Options. |
| 02/26/2024 | Date of reported transactions: acquisition and disposal of common stock. |
| 02/28/2024 | Date of signature for the Form 4 filing. |
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