Form 4: MasterBrand CEO R. David Banyard Disposes of Shares to Cover Tax Obligations
SEC Form 4 Filing
R. David Banyard, CEO and President of MasterBrand, Inc., disposed of 7,556 shares of common stock to cover withholding taxes related to vested awards.
Summary
- On February 28, 2024, R. David Banyard, CEO and President of MasterBrand, Inc., disposed of 7,556 shares of common stock at a price of $16.57 per share.
- The transaction was executed to cover withholding taxes payable by Banyard at the time the award vested.
- Following the transaction, Banyard directly owns 1,175,900 shares of MasterBrand, Inc.
- This total includes 712,325 restricted stock units that have not yet vested and 190,729 shares, the receipt of which has been deferred under the issuer's deferred compensation plan.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing a routine transaction. It doesn't inherently convey positive or negative sentiment.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This transaction is related to tax obligations from vested awards, which is a common occurrence.
Stakeholder Impact
- The transaction is unlikely to have a significant impact on stakeholders as it is a routine disposal of shares to cover tax obligations.
Key Dates
| Date | Description |
|---|---|
| 02/28/2024 | Date of transaction: R. David Banyard disposed of shares to cover tax obligations. |
| 03/01/2024 | Date of signature by attorney-in-fact. |
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.