Form 4: Marcus Corp Exec's Routine Tax Withholding
Insider Transaction Report
Thomas F. Kissinger, a Director and Senior Executive VP at The Marcus Corporation, reported the withholding of 2,467 common shares for tax obligations related to restricted stock vesting.
Summary
- Thomas F. Kissinger, a Director, Senior Executive Vice President, General Counsel, and Secretary of The Marcus Corporation (MCS), reported a transaction on February 23, 2026.
- 2,467 shares of Common Stock were withheld to cover tax liabilities associated with the vesting of restricted stock granted on the same date.
- Following this transaction, Kissinger directly owns 224,700 shares of Common Stock.
- Indirect holdings include 547 shares via a Dividend Reinvestment and Associate Stock Purchase Plan and 1,581 shares through a 401(k) Plan.
- Kissinger also holds various stock options, including 17,000 options granted on 2/28/17 (exercise price $31.2), 24,400 options granted on 2/27/18 (exercise price $27), 23,400 options granted on 2/26/19 (exercise price $41.9), 39,000 options granted on 2/25/20 (exercise price $28.88), 47,100 options granted on 3/9/21 (exercise price $21.84), 50,000 options granted on 3/8/22 (exercise price $17.04), and 56,600 options granted on 3/7/23 (exercise price $15.99).
Sentiment
Score: 6
Explanation: StockSavvy.ai views this as a neutral to slightly positive event. While shares were withheld, it signifies the vesting of restricted stock, a positive compensation event for the executive, and a routine part of equity compensation.
Positives
- The underlying event is the vesting of restricted stock, which indicates continued compensation and retention of a key executive.
- The executive maintains a significant direct beneficial ownership of 224,700 common shares, demonstrating alignment with shareholder interests.
Negatives
- 2,467 shares were disposed of (withheld) to cover tax obligations, reducing the executive's direct share count slightly.
Future Outlook
The filing details the vesting schedules for various stock options held by the executive, with different vesting percentages over 2 to 5 years, indicating future compensation events.
Industry Context
StockSavvy.ai notes that routine insider transactions like tax-related withholdings are common across industries for executives receiving equity compensation. This filing does not provide broader industry insights.
Stakeholder Impact
- Shareholders: Minimal direct impact, as it's a routine compensation-related transaction. The executive's continued significant holdings align interests.
- Employees: No direct impact on general employees.
- Management: Confirms ongoing equity compensation for a key executive.
Next Steps
- Stock options granted between 2017 and 2021 will continue to vest according to a schedule of 40% after 2nd anniversary, 60% after 3rd, 80% after 4th, and 100% after 5 years.
- Stock options granted in 2022 and 2023 will continue to vest according to a schedule of 50% after 2nd anniversary, 75% after 3rd, and 100% after 4 years.
Key Dates
| Date | Description |
|---|---|
| 2017-02-28 | Grant date for 17,000 stock options. |
| 2018-02-27 | Grant date for 24,400 stock options. |
| 2019-02-26 | Grant date for 23,400 stock options. |
| 2020-02-25 | Grant date for 39,000 stock options. |
| 2021-03-09 | Grant date for 47,100 stock options. |
| 2022-03-08 | Grant date for 50,000 stock options. |
| 2023-03-07 | Grant date for 56,600 stock options. |
| 2026-02-23 | Date of restricted stock vesting and shares withheld for tax amounts owed. |
| 2026-02-25 | Date the Form 4 was signed and filed. |
| 2027-02-28 | Expiration date for stock options granted 2/28/17. |
| 2028-02-27 | Expiration date for stock options granted 2/27/18. |
| 2029-02-26 | Expiration date for stock options granted 2/26/19. |
| 2030-02-25 | Expiration date for stock options granted 2/25/20. |
| 2031-03-09 | Expiration date for stock options granted 3/9/21. |
| 2032-03-08 | Expiration date for stock options granted 3/8/22. |
| 2033-03-07 | Expiration date for stock options granted 3/7/23. |
Keywords
Marcus Corporation, MCS, Thomas F. Kissinger, SEC Form 4, Insider Transaction, Restricted Stock, Tax Withholding, Stock Options, Beneficial Ownership, Corporate Governance
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