Form 4: Mayville Engineering Company CFO, Todd M. Butz, Reports Stock Transactions
SEC Form 4
Todd M. Butz, CFO of Mayville Engineering Company, reports the vesting of restricted stock units and disposition of shares to cover tax obligations.
Summary
- On February 28, 2025, Todd M. Butz, the Chief Financial Officer of Mayville Engineering Company, Inc. (MEC), reported transactions involving the company's stock.
- Butz acquired 11,560 shares of common stock upon the vesting of restricted stock units.
- Simultaneously, Butz disposed of 3,700 shares of common stock at a price of $14.95 to satisfy tax obligations related to the vesting of the restricted stock units.
- Following these transactions, Butz directly owns 161,766 shares of MEC common stock.
- Butz also indirectly owns 40,998 shares through an ESOP and/or 401(k) plan.
- Butz holds options to purchase a total of 189,183 shares of common stock at exercise prices ranging from $10.32 to $17.
- Butz also holds 52,841 restricted stock units.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing stock transactions by a company executive. It doesn't inherently convey positive or negative sentiment, but rather provides factual information.
Industry Context
This filing is a routine disclosure related to executive compensation and stock ownership, common in publicly traded companies. It provides transparency to investors regarding the financial interests of company insiders.
Comparison to Industry Standards
- Executive compensation packages often include a mix of salary, stock options, and restricted stock units to align management's interests with those of shareholders.
- The vesting schedules and exercise prices of the options and restricted stock units are typical for executive compensation plans.
- Companies like Lincoln Electric, a competitor in the manufacturing sector, also utilize similar equity-based compensation strategies for their executives.
Stakeholder Impact
- The filing provides transparency to shareholders regarding the CFO's stock ownership and transactions.
- It assures stakeholders that the CFO's interests are aligned with theirs through equity ownership.
Key Dates
| Date | Description |
|---|---|
| 05/08/2020 | 50% vesting date for stock options with a $17 exercise price. |
| 05/08/2021 | 50% vesting date for stock options with a $17 exercise price. |
| 02/28/2022 | 50% vesting date for stock options with a $14.01 exercise price. |
| 02/28/2023 | 50% vesting date for stock options with a $14.01 exercise price and 50% vesting date for stock options with a $10.32 exercise price. |
| 02/28/2024 | 50% vesting date for stock options with a $10.32 exercise price and 50% vesting date for restricted stock units and 50% vesting date for stock options with a $16.22 exercise price. |
| 02/28/2025 | Date of reported transactions: vesting of restricted stock units and sale of shares for tax obligations; 50% vesting date for restricted stock units and 50% vesting date for stock options with a $16.22 exercise price; Vesting date for restricted stock units. |
| 03/15/2025 | Vesting date for restricted stock units. |
| 03/15/2026 | Vesting date for restricted stock units. |
| 03/15/2027 | Vesting date for restricted stock units. |
| 05/08/2029 | Expiration date for stock options with a $17 exercise price. |
| 02/28/2031 | Expiration date for stock options with a $14.01 exercise price. |
| 02/28/2032 | Expiration date for stock options with a $10.32 exercise price. |
| 02/28/2033 | Expiration date for stock options with a $16.22 exercise price. |
| 03/04/2025 | Date of the form filing. |
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