Form 4: Mayville Engineering Company CFO Todd M. Butz Reports Stock Transactions
SEC Form 4 Filing
Todd M. Butz, CFO of Mayville Engineering Company, reports the vesting of restricted stock units and associated tax withholding, along with adjustments to his holdings in common stock and stock options.
Summary
- Todd M. Butz, the Chief Financial Officer of Mayville Engineering Company, Inc. (MEC), filed a Form 4 detailing changes in his beneficial ownership of the company's securities.
- On March 15, 2025, restricted stock units vested, resulting in the acquisition of 17,614 shares of common stock.
- Simultaneously, 17,614 shares were withheld to cover tax obligations related to the vesting of the restricted stock units.
- Additionally, 5,637 shares of common stock were disposed of to cover tax obligations at a price of $14.35.
- Butz's direct holdings of common stock after these transactions totaled 173,743 shares.
- He also indirectly owns 40,998 shares through the ESOP and/or 401(k) Plan.
- Butz holds multiple stock options with various exercise prices and expiration dates, including options to buy 39,127 shares at $17, 39,683 shares at $14.01, 69,963 shares at $10.32 and 40,410 shares at $16.22.
Sentiment
Score: 5
Explanation: This is a routine regulatory filing reflecting standard compensation practices; it doesn't indicate a particularly positive or negative outlook.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders and their holdings in the company.
Comparison to Industry Standards
- Monitoring insider transactions is a standard practice in corporate governance to ensure transparency and prevent potential conflicts of interest.
- Companies like Lincoln Electric Holdings Inc. and Caterpillar Inc. also have their executives file Form 4s regularly, reflecting similar transactions related to stock options and restricted stock units.
Stakeholder Impact
- The filing provides transparency to shareholders regarding the CFO's holdings and transactions in company stock.
- The transactions have a negligible impact on employees, customers, suppliers, and creditors.
Key Dates
| Date | Description |
|---|---|
| 05/08/2020 | 50% vesting date for stock options with an exercise price of $17 |
| 05/08/2021 | 50% vesting date for stock options with an exercise price of $17 |
| 02/28/2022 | 50% vesting date for stock options with an exercise price of $14.01 |
| 02/28/2023 | 50% vesting date for stock options with an exercise price of $14.01 and 50% vesting date for stock options with an exercise price of $10.32 |
| 02/28/2024 | 50% vesting date for stock options with an exercise price of $10.32 and 50% vesting date for stock options with an exercise price of $16.22 |
| 02/28/2025 | 50% vesting date for stock options with an exercise price of $16.22 |
| 03/15/2025 | Date of transaction: vesting of restricted stock units and associated tax withholding. |
| 05/08/2029 | Expiration date for stock options with an exercise price of $17 |
| 02/28/2031 | Expiration date for stock options with an exercise price of $14.01 |
| 02/28/2032 | Expiration date for stock options with an exercise price of $10.32 |
| 02/28/2033 | Expiration date for stock options with an exercise price of $16.22 |
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