Form 4: Marcus & Millichap Executive Gregory LaBerge Reports Stock Transactions
SEC Form 4 Filing
Gregory LaBerge, Chief Administrative Officer of Marcus & Millichap, reports the vesting and subsequent tax withholding of restricted stock units.
Summary
- On March 10, 2024, Gregory A. LaBerge, Chief Administrative Officer of Marcus & Millichap, engaged in transactions involving the company's common stock.
- These transactions involved the vesting of restricted stock units (RSUs) and the subsequent withholding of shares to cover tax liabilities.
- LaBerge acquired shares through the vesting of RSUs and then had shares withheld by the issuer to satisfy tax obligations.
- The price per share for tax withholding purposes was $34.06.
- LaBerge also holds shares indirectly through a trust.
Sentiment
Score: 5
Explanation: This is a routine regulatory filing reflecting standard compensation practices. It doesn't inherently indicate positive or negative sentiment about the company's prospects.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. These filings are closely watched by investors seeking insights into management's perspective on the company's stock.
Comparison to Industry Standards
- Monitoring insider transactions is a standard practice in corporate governance, ensuring transparency and preventing potential misuse of information.
- Companies like CBRE Group, Inc. and JLL also have executives who regularly file Form 4s, reflecting similar patterns of stock option exercises and RSU vesting.
- The vesting schedules and tax withholding practices observed in this filing are typical for executive compensation packages in publicly traded companies.
Stakeholder Impact
- The transactions reported have a minimal direct impact on stakeholders.
- The filing provides transparency to shareholders regarding executive compensation and stock ownership.
Key Dates
| Date | Description |
|---|---|
| 03/10/2020 | First vesting date of some restricted stock units. |
| 03/10/2021 | First vesting date of some restricted stock units. |
| 03/10/2022 | First vesting date of some restricted stock units. |
| 03/10/2023 | First vesting date of some restricted stock units. |
| 03/10/2024 | Date of the reported transactions: vesting of RSUs and tax withholding. |
| 03/10/2024 | First vesting date of some restricted stock units. |
| 03/11/2024 | Closing sale price used for tax withholding calculation. |
| 03/12/2024 | Date of Form 4 signature. |
| 02/13/2029 | Expiration date of some restricted stock units. |
| 02/11/2030 | Expiration date of some restricted stock units. |
| 02/11/2031 | Expiration date of some restricted stock units. |
| 02/10/2032 | Expiration date of some restricted stock units. |
| 02/09/2033 | Expiration date of some restricted stock units. |
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