Form 4: Marten Transport President Douglas Petit Reports Tax Withholding on Vested Shares
SEC Form 4
Douglas Petit, President of Marten Transport, reports the withholding of shares to cover employee taxes upon vesting, along with stock option grants.
Summary
- On March 12, 2024, Douglas Petit, President of Marten Transport Ltd, reported a transaction involving common stock.
- 1,400 shares were withheld to cover employee taxes at a price of $19.02 per share.
- Following the transaction, Petit directly owns 26,610 shares of Marten Transport.
- Petit also holds stock options to purchase 4,500 shares at $10.867 (expiring 08/15/2024), 4,500 shares at $15.167 (expiring 08/14/2025), and 3,000 shares at $17.36 (expiring 05/04/2028).
Sentiment
Score: 5
Explanation: This is a neutral report of insider transactions, specifically tax withholding, and doesn't indicate positive or negative sentiment.
Industry Context
This Form 4 filing is a routine disclosure related to insider transactions and is a standard practice for publicly traded companies like Marten Transport.
Key Dates
| Date | Description |
|---|---|
| 08/15/2017 | Date of stock option grant with exercise price of $10.867. |
| 08/14/2018 | Date of stock option grant with exercise price of $15.167. |
| 05/04/2021 | Date of stock option grant with exercise price of $17.36. |
| 05/04/2022 | Date when 600 shares of the stock option granted on 05/04/2021 vested. |
| 05/04/2023 | Date when 600 shares of the stock option granted on 05/04/2021 vested. |
| 03/12/2024 | Date of the reported transaction where shares were withheld for taxes. |
| 03/13/2024 | Date of signature for the Form 4 filing. |
| 05/04/2024 | Date when 600 shares of the stock option granted on 05/04/2021 will vest. |
| 08/15/2024 | Expiration date of stock options granted on 08/15/2017. |
| 12/31/2024 | Vesting date for shares granted under Performance Unit Award Agreements. |
| 05/04/2025 | Date when 600 shares of the stock option granted on 05/04/2021 will vest. |
| 08/14/2025 | Expiration date of stock options granted on 08/14/2018. |
| 12/31/2025 | Vesting date for shares granted under Performance Unit Award Agreements. |
| 05/04/2026 | Date when 600 shares of the stock option granted on 05/04/2021 will vest. |
| 12/31/2026 | Vesting date for shares granted under Performance Unit Award Agreements. |
| 12/31/2027 | Vesting date for shares granted under Performance Unit Award Agreements. |
| 05/04/2028 | Expiration date of stock options granted on 05/04/2021. |
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