Form 4: Marcus & Millichap Chief Accounting Officer Reports Changes in Beneficial Ownership
SEC Form 4
Kurt Henry Schwarz, Chief Accounting Officer of Marcus & Millichap, Inc., reports transactions involving restricted stock units and common stock.
Summary
- On March 10, 2024, Kurt Henry Schwarz, the Chief Accounting Officer of Marcus & Millichap, Inc., engaged in transactions involving restricted stock units (RSUs) and common stock.
- These transactions included the vesting of RSUs and the subsequent withholding of shares to cover tax liabilities.
- Schwarz also reported holdings of common stock, including shares held directly and indirectly through The Schwarz Family Trust.
- The reported transactions reflect changes in Schwarz's beneficial ownership of Marcus & Millichap securities.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing, indicating a neutral sentiment.
Industry Context
This filing is a routine disclosure related to executive compensation and stock ownership, common in publicly traded companies.
Stakeholder Impact
- The transactions may have a minor impact on shareholders due to the change in the executive's holdings.
- Employees participating in the Employee Stock Purchase Plan are indirectly affected.
Key Dates
| Date | Description |
|---|---|
| September 25, 2003 | Date of The Schwarz Family Trust |
| March 10, 2020 | First vesting date for some restricted stock units |
| March 10, 2021 | First vesting date for some restricted stock units |
| March 10, 2022 | First vesting date for some restricted stock units |
| March 10, 2023 | First vesting date for some restricted stock units |
| March 10, 2024 | Date of reported transactions; First vesting date for some restricted stock units |
| March 11, 2024 | Date used to determine the closing sale price for shares withheld for tax liabilities |
| March 12, 2024 | Date of signature on the Form 4 |
| February 13, 2029 | Expiration date for some restricted stock units |
| February 11, 2030 | Expiration date for some restricted stock units |
| February 11, 2031 | Expiration date for some restricted stock units |
| February 10, 2032 | Expiration date for some restricted stock units |
| February 09, 2033 | Expiration date for some restricted stock units |
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