Form 4: Manitowoc Co Inc: Executive Vice President Jennifer L. Peterson Reports Changes in Beneficial Ownership
SEC Form 4 Filing
Jennifer L. Peterson, EVP, General Counsel & Secretary of Manitowoc Co Inc, reports a disposition of 3,053 common stock shares to cover tax obligations, leaving her with 50,875 shares.
Summary
- On February 27, 2025, Jennifer L. Peterson, EVP, General Counsel & Secretary of Manitowoc Co Inc, reported a transaction involving the disposition of 3,053 shares of common stock.
- The shares were disposed of to satisfy tax withholding obligations on restricted stock units.
- The transaction price was $10.44 per share.
- Following the transaction, Peterson directly owns 50,875 shares of Manitowoc Co Inc common stock.
- Peterson also holds non-qualified stock options.
Sentiment
Score: 5
Explanation: This is a neutral disclosure of a routine transaction. It doesn't inherently indicate positive or negative sentiment about the company's prospects.
Industry Context
This filing is a routine disclosure related to executive compensation and stock ownership, common in publicly traded companies. It provides transparency to investors regarding the holdings and transactions of company insiders.
Comparison to Industry Standards
- Executive compensation practices, including the use of stock options and restricted stock units, are common across publicly traded companies, including Manitowoc's competitors such as Terex and Oshkosh.
- The specific terms of these compensation packages, such as vesting schedules and exercise prices, are typically benchmarked against industry standards and peer group data to attract and retain talent.
- The level of stock ownership by executives is also monitored by investors as an indicator of alignment with shareholder interests.
Stakeholder Impact
- The transaction has a minimal direct impact on shareholders, as it is a routine sale of shares by an executive for tax purposes.
- It provides transparency to stakeholders regarding executive compensation and stock ownership.
Key Dates
| Date | Description |
|---|---|
| 02/20/2019 | Date from which non-qualified options for 1,721 shares become exercisable. |
| 02/20/2028 | Expiration date for non-qualified options for 1,721 shares. |
| 02/27/2021 | Date from which non-qualified options for 1,752 shares become exercisable. |
| 02/27/2025 | Date of the reported transaction (disposition of shares). |
| 02/27/2029 | Expiration date for non-qualified options for 1,752 shares. |
| 03/03/2025 | Date of signature for the Form 4 filing. |
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