Form 4: Marcus Corp Executive Michael Reade Evans Reports Stock Transaction
SEC Form 4 Filing
Michael Reade Evans, a President at Marcus Corp, reports disposition of shares to cover tax obligations related to vesting restricted stock.
Summary
- On March 1, 2025, Michael Reade Evans, President of Marcus Hotels & Resorts, reported a transaction involving Marcus Corp stock.
- 2,115 shares of common stock were disposed of at a price of $18.34 per share.
- This transaction was due to shares being withheld to cover tax obligations resulting from the vesting of restricted stock granted on March 1, 2023.
- Following the transaction, Evans beneficially owns 50,342 shares of Marcus Corp common stock directly.
- Evans also holds multiple stock options with varying exercise prices and expiration dates.
Sentiment
Score: 5
Explanation: This is a routine transaction related to tax obligations, and has neutral sentiment.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This filing indicates a standard practice of withholding shares to cover tax obligations upon the vesting of restricted stock.
Comparison to Industry Standards
- Form 4 filings are standard practice across publicly traded companies, including competitors of Marcus Corp in the hospitality and entertainment industries.
- Companies like Hilton, Marriott, and Live Nation Entertainment also have executives who regularly file Form 4s to report transactions in their company's stock.
- The practice of withholding shares for tax obligations is a common method used by companies to simplify the tax process for employees receiving equity compensation.
Stakeholder Impact
- The transaction has a minimal impact on shareholders as it is a routine transaction related to tax obligations.
Key Dates
| Date | Description |
|---|---|
| 03/01/2023 | Date of grant for the restricted stock that triggered the tax obligation. |
| 03/01/2025 | Date of the stock transaction (disposal of shares for tax withholding). |
| 03/04/2025 | Date of the Form 4 filing. |
| 01/08/2030 | Earliest expiration date of stock options held. |
| 03/07/2033 | Latest expiration date of stock options held. |
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