Form 4: McGrath RentCorp Executive Philip Hawkins Reports Stock Transactions
SEC Form 4 Filing
Senior VP Philip B. Hawkins of McGrath RentCorp reports the vesting and conversion of restricted stock units into common stock, along with a disposition of shares to cover tax obligations.
Summary
- Philip B. Hawkins, Senior VP of Mobile Modular Division at McGrath RentCorp, reported transactions involving common stock and restricted stock units (RSUs) on February 26, 2024.
- Hawkins converted vested RSUs into common stock, acquiring a total of 5,804 shares through the vesting of performance-based RSUs.
- Specifically, 3,840 RSUs, 641 RSUs, 667 RSUs and 656 RSUs vested and converted into common stock.
- He also disposed of 1,521 shares to satisfy tax withholding obligations at a price of $124.65 per share.
- Following these transactions, Hawkins directly owns 4,283 shares of McGrath RentCorp common stock and holds 1,981 RSUs.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing, and the transactions described are part of normal executive compensation. Therefore, the sentiment is neutral.
Industry Context
This filing is a routine disclosure related to executive compensation and stock ownership, common in publicly traded companies. It provides transparency into the transactions of company insiders.
Stakeholder Impact
- The transactions have a minor impact on shareholders as they reflect the vesting of previously granted equity compensation.
Key Dates
| Date | Description |
|---|---|
| 02/26/2024 | Date of transactions involving common stock and restricted stock units. |
| 02/25/2028 | Expiration date for some of the restricted stock units. |
| 02/25/2029 | Expiration date for some of the restricted stock units. |
| 02/24/2030 | Expiration date for some of the restricted stock units. |
| 02/28/2024 | Date of Form 4 filing. |
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