Form 4: Marcus Corp Director Milstein Acquires Restricted Stock
Insider Transaction Report
Philip L. Milstein, a Director at Marcus Corp, reported the acquisition of 4,174 shares of common stock as a restricted stock grant, effective December 31, 2025.
Summary
- Philip L. Milstein, a Director of Marcus Corp (MCS), reported an acquisition of 4,174 shares of common stock.
- The transaction date for this acquisition is December 31, 2025.
- The acquired shares are restricted stock, granted at a price of $0.
- The restricted stock vests 50% after the 2nd anniversary of the grant date and 100% after the 4th anniversary of the grant date.
- Following this transaction, Mr. Milstein directly beneficially owns 77,758 shares of common stock.
- Indirect beneficial ownership includes 10,244, 124,111, 8,100, and 2,000 shares held as trustee for the PLM Foundation, for which Mr. Milstein disclaims beneficial interest.
- Mr. Milstein also holds several direct stock options (right to buy) with exercise prices ranging from $14.25 to $38.51 and expiration dates between December 2026 and December 2033.
Sentiment
Score: 6
Explanation: The sentiment is mildly positive as a director's acquisition of restricted stock, even at a $0 price, generally indicates alignment with shareholder interests and a long-term commitment to the company. It is a routine compensation event rather than a direct market purchase.
Positives
- A Director acquiring additional shares, even restricted stock, can signal confidence in the company's future performance and aligns management interests with shareholders.
Future Outlook
The restricted stock granted on December 31, 2025, is scheduled to vest 50% after its second anniversary and 100% after its fourth anniversary, indicating a future incentive for the director.
Industry Context
This filing is a routine insider transaction disclosure and does not provide specific industry context or trends. It reflects an individual director's compensation and ownership structure within Marcus Corp.
Related Party Transactions
- Philip L. Milstein holds indirect beneficial ownership of shares as trustee for the PLM Foundation, for which he disclaims beneficial interest. He also disclaims beneficial interest in shares owned by his wife, children, and held as co-trustee for SVM Foundation.
Stakeholder Impact
- Shareholders may view the director's increased equity stake as a positive signal of management's commitment and alignment with long-term company performance.
Next Steps
- The restricted stock granted on December 31, 2025, will vest 50% after its second anniversary and 100% after its fourth anniversary.
Key Dates
| Date | Description |
|---|---|
| 12/31/2016 | Date exercisable for stock option with exercise price $31.55 and expiration date 12/31/2026 |
| 12/28/2017 | Date exercisable for stock option with exercise price $27.2 and expiration date 12/28/2027 |
| 12/27/2018 | Date exercisable for stock option with exercise price $38.51 and expiration date 12/27/2028 |
| 12/26/2019 | Date exercisable for stock option with exercise price $32.6 and expiration date 12/26/2029 |
| 12/30/2021 | Date exercisable for stock option with exercise price $17.95 and expiration date 12/30/2031 |
| 12/29/2022 | Date exercisable for stock option with exercise price $14.25 and expiration date 12/29/2032 |
| 12/28/2023 | Date exercisable for stock option with exercise price $14.69 and expiration date 12/28/2033 |
| 12/31/2025 | Date of restricted stock grant and earliest transaction date |
| 01/05/2026 | Signature date of the reporting person's attorney-in-fact |
| 12/31/2027 | Approximate 2nd anniversary of restricted stock grant, when 50% vests |
| 12/31/2029 | Approximate 4th anniversary of restricted stock grant, when 100% vests |
Keywords
Marcus Corp, MCS, Insider Trading, Form 4, Restricted Stock, Stock Options, Director Ownership, Beneficial Ownership
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