Form 4: MarineMax Executive VP Michael McLamb Reports Stock Transactions
SEC Form 4 Filing
Michael McLamb, Executive VP, CFO, and Secretary of MarineMax Inc., reports the vesting and subsequent disposal of restricted stock units and performance-based restricted stock on September 30, 2024.
Summary
- On September 30, 2024, Michael McLamb, Executive VP, CFO, and Secretary of MarineMax Inc. (HZO), reported transactions involving MarineMax common stock.
- These transactions involved the vesting of restricted stock units and performance-based restricted stock, followed by the disposal of some shares to cover tax obligations.
- Specifically, 1,811, 14,253, 3,177, and 4,044 restricted stock units vested.
- 6,565 shares were disposed of at a price of $35.27 to satisfy tax obligations.
- Following these transactions, McLamb directly owns 114,018 shares of MarineMax common stock and 11,267 restricted stock units.
Sentiment
Score: 5
Explanation: This is a routine regulatory filing related to executive compensation. It doesn't inherently indicate positive or negative sentiment about the company's performance.
Industry Context
Form 4 filings are routine disclosures required by the SEC to ensure transparency in stock transactions by company insiders. These filings are closely watched by investors seeking insights into management's perspective on the company's stock.
Comparison to Industry Standards
- Form 4 filings are standard practice for publicly traded companies and their executives.
- The vesting schedules and performance-based criteria for restricted stock units are common compensation practices to align executive interests with shareholder value.
- Companies like Brunswick Corporation (BC) and Malibu Boats (MBUU) also utilize similar equity-based compensation plans for their executives.
Stakeholder Impact
- The transactions have a minor impact on shareholders as they reflect routine executive compensation and tax obligations.
- The transactions have no immediate impact on employees, customers, suppliers, or creditors.
Key Dates
| Date | Description |
|---|---|
| November 19, 2021 | Performance criteria established for performance-based restricted stock units. |
| September 30, 2022 | First vesting date for some restricted stock units. |
| September 30, 2023 | First vesting date for some restricted stock units. |
| September 30, 2024 | Date of reported transactions: vesting of restricted stock units and performance-based restricted stock, and disposal of shares for tax obligations. |
| September 30, 2024 | First vesting date for some restricted stock units. |
| October 02, 2024 | Date of signature on the Form 4 filing. |
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