Form 4: McKesson Corp Executive Thomas L Rodgers Reports Stock Transactions
SEC Form 4
EVP Thomas L Rodgers of McKesson Corp reports the acquisition and disposal of common stock and Restricted Stock Units (RSUs) on May 24-29, 2024.
Summary
- Thomas L Rodgers, EVP, Chief Strategy & BDO of McKesson Corp, filed a Form 4 detailing changes in beneficial ownership.
- On May 24, 2024, Rodgers acquired 588 shares of common stock through the vesting of Restricted Stock Units (RSUs) and disposed of 232 shares to cover taxes at a price of $560.73.
- Following these transactions, Rodgers directly owned 8,162 shares of common stock.
- On May 25, 2024, Rodgers acquired 885 shares of common stock through RSU vesting and disposed of 349 shares to cover taxes at a price of $560.73, resulting in direct ownership of 8,698 shares.
- Rodgers sold 789 shares on May 28, 2024, at $557.4 per share, reducing direct ownership to 7,909 shares.
- On May 29, 2024, Rodgers sold 133 shares at $550 per share, resulting in direct ownership of 7,776 shares.
- The sales on May 28 and 29 were executed pursuant to a pre-arranged trading plan under Rule 10b5-1(c) adopted on November 16, 2023.
- Rodgers also reported holding 588 and 0 derivative securities (RSUs) after the reported transactions.
Sentiment
Score: 5
Explanation: Neutral sentiment as the filing simply reports transactions executed under a pre-existing plan. No clear positive or negative implications for the company's performance.
Industry Context
Executive stock transactions are common and are closely watched by investors for signals about a company's prospects. Rule 10b5-1 plans allow insiders to sell shares without being accused of trading on non-public information.
Comparison to Industry Standards
- Executive compensation packages often include stock options and RSUs to align management's interests with those of shareholders.
- The vesting schedules and tax withholding practices observed in this filing are typical for RSU grants.
- Sales under 10b5-1 plans are a common practice among corporate executives to diversify their holdings and manage personal finances.
Stakeholder Impact
- The transactions may have a minor impact on shareholders due to the small volume of shares involved.
- The sales are unlikely to affect employees, customers, suppliers, or creditors.
Key Dates
| Date | Description |
|---|---|
| 11/16/2023 | Date of adoption of the Rule 10b5-1(c) trading plan. |
| 05/24/2023 | 1/3 of RSUs vested. |
| 05/24/2024 | Acquisition of 588 shares via RSU vesting; disposal of 232 shares for tax purposes. |
| 05/25/2022 | 1/3 of RSUs vested. |
| 05/25/2023 | 1/3 of RSUs vested. |
| 05/25/2024 | Acquisition of 885 shares via RSU vesting; disposal of 349 shares for tax purposes. |
| 05/28/2024 | Sale of 789 shares at $557.4 per share. |
| 05/29/2024 | Sale of 133 shares at $550 per share; Form 4 filing date. |
| 05/24/2025 | Future vesting date for 1/3 of RSUs. |
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.