MMI.NYSEMarcus & Millichap, INC

Form 4: Marcus & Millichap EVP Richard Matricaria Reports Stock Transactions

Sentiment:

SEC Form 4

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Richard Matricaria, EVP & COO Western Division of Marcus & Millichap, reports the vesting and sale of restricted stock units and common stock sales on March 10 and 12, 2024.

Summary

  • Richard D. Matricaria, EVP & COO Western Division of Marcus & Millichap, filed a Form 4 detailing changes in beneficial ownership.
  • On March 10, 2024, Matricaria vested various tranches of restricted stock units (RSUs) converting into common stock.
  • The vesting of RSUs resulted in the acquisition of 1,376, 1,874, 2,364, 11,756, and 4,072 shares of common stock.
  • Simultaneously, shares were withheld by the issuer to cover withholding tax liabilities at a price of $34.06 per share, resulting in the disposal of 492, 670, 846, 4,355, and 2,064 shares.
  • On March 12, 2024, Matricaria sold 9,500 shares of common stock at a weighted average price of $33.3161 per share, with prices ranging from $33.25 to $33.385.
  • Following these transactions, Matricaria directly owns 7,078 shares of common stock and a total of 58,164 restricted stock units.

Sentiment

Score: 5

Explanation: The document is a routine disclosure of stock transactions by an executive, with no inherent positive or negative sentiment.

Industry Context

Form 4 filings are standard practice for corporate insiders to report transactions in their company's stock, providing transparency to the market.

Comparison to Industry Standards

  • Executive compensation packages often include restricted stock units that vest over time, aligning executive interests with long-term shareholder value.
  • Tax withholding upon vesting of RSUs is a common practice.
  • The sale of shares by executives is a normal part of personal financial planning.

Stakeholder Impact

  • The transactions may have a minor impact on shareholders due to the change in ownership.
  • Employees may be interested in executive stock transactions as a signal of company performance.

Key Dates

DateDescription
03/10/2020First vesting date of restricted stock units (1,376 shares).
03/10/2021First vesting date of restricted stock units (1,874 shares).
03/10/2022First vesting date of restricted stock units (2,364 shares).
03/10/2023First vesting date of restricted stock units (11,756 shares).
03/10/2024Vesting of RSUs and tax withholding; First vesting date of restricted stock units (4,072 shares).
03/12/2024Sale of 9,500 shares of common stock.
02/09/2033Expiration date of restricted stock units (4,072 shares).

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