Form 4: Marcus & Millichap EVP and CFO Steven F. DeGennaro Reports Stock Transactions
SEC Form 4 Filing
Steven F. DeGennaro, EVP and CFO of Marcus & Millichap, reported the vesting and subsequent tax withholding of shares related to restricted stock units.
Summary
- On August 10, 2024, Steven F. DeGennaro, the EVP and CFO of Marcus & Millichap, reported transactions involving the company's common stock.
- These transactions included the vesting of 1,500 restricted stock units (RSUs) from grants in both 2021 and 2022, each representing a contingent right to receive one share of common stock.
- The company withheld 536 shares for tax liabilities related to the RSU settlements at a price of $38.09 per share.
- Following these transactions, DeGennaro directly owns 20,181 shares of Marcus & Millichap common stock, which includes 771 shares purchased under the Employee Stock Purchase Plan, and 3,000 restricted stock units.
Sentiment
Score: 5
Explanation: This is a routine filing related to executive compensation and stock ownership, with no indication of unusual or concerning activity.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders and their holdings in the company's stock.
Stakeholder Impact
- The transactions have a minor dilutive effect on existing shareholders due to the issuance of new shares upon RSU vesting.
Key Dates
| Date | Description |
|---|---|
| 08/10/2021 | First vesting date of restricted stock units (2021 grant). |
| 08/10/2022 | First vesting date of restricted stock units (2022 grant). |
| 08/09/2024 | Closing sale price used for tax withholding calculation. |
| 08/10/2024 | Date of stock transactions (RSU vesting and tax withholding). |
| 08/12/2024 | Date of Form 4 filing. |
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