Form 4: Mayville Engineering CFO Todd Butz Executes Stock Option and Disposes of Shares
SEC Form 4 Filing
Todd Butz, CFO of Mayville Engineering Company, exercised stock options and disposed of shares on August 21, 2024.
Summary
- On August 21, 2024, Todd M. Butz, the Chief Financial Officer of Mayville Engineering Company, Inc. (MEC), engaged in transactions involving the company's stock.
- Butz exercised stock options to acquire 88,029 shares of common stock at a price of $7.12 per share.
- Simultaneously, Butz disposed of 58,719 shares of common stock at a price of $19.15 per share.
- Following these transactions, Butz directly owns 153,906 shares of MEC common stock.
- Butz also indirectly owns 39,726 shares through an ESOP and/or 401(k) plan.
Sentiment
Score: 5
Explanation: The document is a standard SEC filing detailing stock transactions by a company insider. It doesn't inherently convey positive or negative sentiment, but rather provides factual information.
Industry Context
Form 4 filings are standard disclosures required by the SEC to provide transparency into the transactions of company insiders. These filings are closely watched by investors to gauge management's sentiment and potential future performance of the company.
Comparison to Industry Standards
- Comparing Butz's transactions to those of CFOs at similar manufacturing companies like Lincoln Electric or Kennametal would provide context.
- For example, if other CFOs in the industry are also exercising options and selling shares, it might indicate a broader trend related to compensation or market conditions.
- Analyzing the timing and volume of these transactions relative to earnings announcements or other significant events can offer further insights.
Stakeholder Impact
- Shareholders may interpret the CFO's stock disposal as a signal, although it could be for personal financial planning.
- The transactions themselves have a limited direct impact on employees, customers, suppliers, or creditors.
Key Dates
| Date | Description |
|---|---|
| 02/27/2021 | 50% vesting date for 88,029 stock options at $7.12. |
| 05/08/2020 | 50% vesting date for 39,127 stock options at $17. |
| 05/08/2021 | 50% vesting date for 39,127 stock options at $17. |
| 02/27/2022 | 50% vesting date for 88,029 stock options at $7.12. |
| 02/28/2022 | 50% vesting date for 39,683 stock options at $14.01. |
| 02/28/2023 | 50% vesting date for 39,683 stock options at $14.01 and 69,963 stock options at $10.32. |
| 02/28/2024 | 50% vesting date for 69,963 stock options at $10.32 and 40,410 stock options at $16.22 and 11,560 restricted stock units. |
| 03/15/2025 | 1/3 vesting date for 52,841 restricted stock units. |
| 02/28/2025 | 50% vesting date for 40,410 stock options at $16.22 and 11,560 restricted stock units. |
| 03/15/2026 | 1/3 vesting date for 52,841 restricted stock units. |
| 03/15/2027 | 1/3 vesting date for 52,841 restricted stock units. |
| 05/08/2029 | Expiration date for stock options. |
| 02/27/2030 | Expiration date for stock options. |
| 02/28/2031 | Expiration date for stock options. |
| 02/28/2032 | Expiration date for stock options. |
| 02/28/2033 | Expiration date for stock options. |
| 08/21/2024 | Date of transaction: exercise of stock options and disposal of shares. |
| 08/22/2024 | Date of signature. |
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