Form 4: Matrix Service Co. Executive Kevin A. Durkin Reports Stock Transactions
SEC Form 4 Filing
Kevin A. Durkin, VP Chief Business Development/Strategy Officer at Matrix Service Co., reports the vesting and disposal of restricted stock units to cover tax obligations.
Summary
- On August 24, 2024, Kevin A. Durkin, VP Chief Business Development/Strategy Officer at Matrix Service Co., engaged in transactions involving Matrix Service Company common stock and restricted stock units.
- Durkin acquired 1,273 shares of common stock through the vesting of restricted stock units.
- He then disposed of 1,273 shares of common stock at a price of $10.
- Additionally, 424 shares were disposed of to satisfy tax obligations related to the vesting of service-based restricted stock units, also at $10 per share.
- Following these transactions, Durkin beneficially owns 71,807 shares of Matrix Service Company common stock, which includes 54,342 shares owned outright.
Sentiment
Score: 5
Explanation: This is a neutral disclosure of stock transactions. It doesn't inherently indicate positive or negative sentiment about the company's performance.
Industry Context
This filing is a routine disclosure of insider transactions, which are common for executives receiving stock-based compensation. It provides transparency into the executive's holdings and transactions in the company's stock.
Stakeholder Impact
- The transactions have a minimal impact on shareholders as they represent a small percentage of the total outstanding shares.
Key Dates
| Date | Description |
|---|---|
| 08/24/2021 | Initial date for the service-based award of cash-settled restricted stock units, with 25% vesting each year until August 24, 2024. |
| 08/24/2024 | Date of the reported transactions: vesting of restricted stock units, disposal of shares, and disposal of shares for tax obligations. |
| 08/24/2024 | Expiration date for the service-based award of cash-settled restricted stock units. |
| 08/27/2024 | Date of signature for the Form 4 filing. |
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