Form 4: Marcus & Millichap EVP & COO John David Parker Reports Changes in Beneficial Ownership
SEC Form 4 Filing
John David Parker, EVP & COO of Marcus & Millichap, reported transactions involving restricted stock units and common stock on March 10, 2025.
Summary
- On March 10, 2025, John David Parker, EVP & COO of Marcus & Millichap, executed transactions involving the company's common stock and restricted stock units (RSUs).
- Parker acquired shares through the vesting of RSUs and simultaneously disposed of shares to cover withholding tax liabilities.
- Specifically, Parker acquired 2,212, 2,648, 11,756, 4,130, and 3,490 shares through RSU vesting.
- He disposed of 798, 1,096, 6,002, 2,110, and 1,260 shares to satisfy tax obligations at a price of $35.47 per share.
- Following these transactions, Parker directly owns 26,679 shares of common stock, including 336 shares purchased under the Employee Stock Purchase Plan, and holds various amounts of RSUs that will vest in the future.
Sentiment
Score: 6
Explanation: The document reflects routine executive compensation activity. It is neither overwhelmingly positive nor negative, but rather a neutral disclosure of transactions.
Positives
- The vesting of RSUs indicates that Parker is meeting the conditions of his equity compensation plan.
- Parker's continued direct ownership of 26,679 shares of common stock demonstrates his continued investment in the company.
Industry Context
Form 4 filings are a routine part of executive compensation and provide transparency into the trading activities of company insiders. This filing indicates the ongoing vesting of previously granted equity awards.
Comparison to Industry Standards
- Equity compensation is a standard practice in the real estate brokerage industry, with companies like CBRE Group and Jones Lang LaSalle also utilizing RSUs and stock options to incentivize executives.
- The vesting schedules and terms of these equity awards are typically aligned with industry norms to attract and retain top talent.
Stakeholder Impact
- The transactions have a minimal direct impact on shareholders, as they primarily involve the vesting of previously granted equity awards.
- Employees participating in the Employee Stock Purchase Plan may be interested in the stock price at which shares were withheld for tax purposes.
Key Dates
| Date | Description |
|---|---|
| 03/10/2021 | First vesting date for 2,212 restricted stock units. |
| 03/10/2022 | First vesting date for 2,648 restricted stock units. |
| 03/10/2023 | First vesting date for 11,756 restricted stock units. |
| 03/10/2024 | First vesting date for 4,130 restricted stock units. |
| 03/10/2025 | Date of reported transactions: RSU vesting and tax withholding. |
| 02/11/2030 | Expiration date for 2,212 restricted stock units. |
| 02/11/2031 | Expiration date for 2,648 restricted stock units. |
| 02/10/2032 | Expiration date for 11,756 restricted stock units. |
| 02/09/2033 | Expiration date for 4,130 restricted stock units. |
| 02/08/2034 | Expiration date for 3,490 restricted stock units. |
| 03/12/2025 | Date of Form 4 filing. |
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