Form 4: Mayville Engineering Company CEO Jagadeesh A. Reddy Reports Stock Transactions
SEC Form 4 Filing
Jagadeesh A. Reddy, President & CEO of Mayville Engineering Company, Inc. (MEC), reported the vesting of restricted stock units and associated tax withholding.
Summary
- On July 19, 2024, Jagadeesh A. Reddy, the President & CEO of Mayville Engineering Company, Inc. (MEC), had restricted stock units vest and shares withheld for taxes.
- Specifically, 32,051 shares of common stock were acquired upon the vesting of restricted stock units.
- 15,063 shares were disposed of to cover tax obligations at a price of $18.53 per share.
- Following these transactions, Reddy directly owns 83,149 shares of common stock and indirectly owns 1,560 shares through an ESOP and/or 401(k) plan.
- He also holds derivative securities including 25,432 restricted stock units vesting in February 2024 and 2025, 108,950 restricted stock units vesting in March 2025, 2026 and 2027, and options to buy 88,901 common shares vesting in February 2024 and 2025.
Sentiment
Score: 5
Explanation: This is a neutral event, reflecting routine executive compensation and tax obligations.
Industry Context
This filing is a routine disclosure of insider transactions, which are common occurrences in publicly traded companies. It provides transparency into the trading activities of company executives and directors.
Stakeholder Impact
- The transactions have a minimal direct impact on stakeholders, as they represent a small portion of the overall outstanding shares.
Key Dates
| Date | Description |
|---|---|
| 02/28/2033 | Expiration date for stock options |
| 07/19/2024 | Date of transaction: vesting of restricted stock units and tax withholding |
| 07/23/2024 | Date of signature on the Form 4 filing |
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