Form 4: Mayville Engineering Company CEO Acquires Shares and Holds Significant Equity Position
SEC Form 4
Jagadeesh A. Reddy, President & CEO of Mayville Engineering Company, Inc. (MEC), recently acquired 5,903 shares of common stock at a weighted average price of $16.72, increasing his total holdings.
Summary
- On November 7, 2024, Jagadeesh A. Reddy, the President & CEO of Mayville Engineering Company, Inc. (MEC), purchased 5,903 shares of common stock at a weighted average price of $16.72.
- The prices actually received ranged from $16.47 to $16.73.
- Following this transaction, Reddy directly owns 89,052 shares of MEC common stock.
- Reddy also indirectly owns 1,560 shares through the ESOP and/or 401(k) Plan.
- Reddy holds 25,432 restricted stock units that will vest 50% on each of February 28, 2024 and February 28, 2025.
- Reddy holds 32,051 restricted stock units that will vest 1/3 on each of July 19, 2023, 2024 and 2025.
- Reddy holds 108,950 restricted stock units that will vest 1/3 on each of March 15, 2025, 2026 and 2027.
- Reddy also holds options to buy 88,901 common shares at an exercise price of $16.22, which will vest 50% on each of February 28, 2024 and February 28, 2025.
Sentiment
Score: 7
Explanation: The CEO's stock purchase is a positive signal, suggesting confidence in the company's prospects. The large number of restricted stock units and options indicates a long-term commitment to the company's success.
Positives
- The CEO's purchase of shares may signal confidence in the company's future prospects.
- The CEO has a significant equity stake in the company, aligning his interests with those of shareholders.
Industry Context
Insider buying is often seen as a positive sign, suggesting that company leadership believes the stock is undervalued.
Stakeholder Impact
- Shareholders may view the CEO's stock purchase as a positive sign.
- Employees may be motivated by the CEO's confidence in the company.
Key Dates
| Date | Description |
|---|---|
| July 19, 2023 | 1/3 of 32,051 restricted stock units vest |
| February 28, 2024 | 50% of 25,432 restricted stock units vest and 50% of options to buy 88,901 common shares vest |
| July 19, 2024 | 1/3 of 32,051 restricted stock units vest |
| February 28, 2025 | 50% of 25,432 restricted stock units vest and 50% of options to buy 88,901 common shares vest |
| March 15, 2025 | 1/3 of 108,950 restricted stock units vest |
| July 19, 2025 | 1/3 of 32,051 restricted stock units vest |
| March 15, 2026 | 1/3 of 108,950 restricted stock units vest |
| March 15, 2027 | 1/3 of 108,950 restricted stock units vest |
| 02/28/2033 | Expiration date of stock options |
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