Form 4: Marcus & Millichap Chief Accounting Officer Reports Stock Transactions
SEC Form 4 Filing
Kurt Henry Schwarz, Chief Accounting Officer of Marcus & Millichap, Inc., reports the vesting and subsequent tax withholding of restricted stock units.
Summary
- On March 10, 2025, Kurt Henry Schwarz, the Chief Accounting Officer of Marcus & Millichap, Inc., engaged in transactions involving the company's common stock and restricted stock units (RSUs).
- Schwarz vested various tranches of RSUs, which were granted in previous years and vest in five equal annual installments.
- Upon vesting, a portion of the shares was withheld by Marcus & Millichap to cover the withholding tax liability.
- The price per share for tax withholding purposes was $35.47.
- Following these transactions, Schwarz directly owns 1,341 shares of common stock and indirectly owns 7,676 shares through a family trust.
- He also holds derivative securities in the form of unvested restricted stock units.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing stock transactions by a company executive. It doesn't inherently convey positive or negative sentiment, but rather provides factual information.
Positives
- The vesting of RSUs indicates that Schwarz has met certain performance or time-based requirements, aligning his interests with the company's success.
Industry Context
This filing is a routine disclosure required by the SEC for corporate insiders, providing transparency into their transactions in the company's stock. It's a standard practice for publicly traded companies.
Comparison to Industry Standards
- Form 4 filings are standard practice for officers of publicly traded companies like Marcus & Millichap, similar to filings made by executives at competitors such as CBRE Group and JLL.
- The vesting schedules of the restricted stock units are typical, with annual installments being a common vesting structure.
Stakeholder Impact
- The transactions have a minimal direct impact on stakeholders, as they primarily reflect internal compensation arrangements and tax obligations.
- The disclosure provides transparency to shareholders regarding insider transactions.
Key Dates
| Date | Description |
|---|---|
| September 25, 2003 | Date of The Schwarz Family Trust |
| March 10, 2021 | First vesting date of restricted stock units |
| March 10, 2022 | First vesting date of restricted stock units |
| March 10, 2023 | First vesting date of restricted stock units |
| March 10, 2024 | First vesting date of restricted stock units |
| March 10, 2025 | Date of reported transactions: vesting of RSUs and tax withholding |
| March 12, 2025 | Date of Form 4 filing |
| February 11, 2030 | Expiration date of restricted stock units |
| February 11, 2031 | Expiration date of restricted stock units |
| February 10, 2032 | Expiration date of restricted stock units |
| February 09, 2033 | Expiration date of restricted stock units |
| February 08, 2034 | Expiration date of restricted stock units |
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.