Form 4: Medtronic Interim CFO Sells Shares to Cover Taxes After Stock Vesting
SEC Form 4 Filing
Medtronic's Interim CFO, Gary Louis Corona, sold 662 shares to cover taxes after restricted stock units vested, while also increasing his holdings through dividend reinvestment and the employee stock ownership plan.
Summary
- Gary Louis Corona, the Interim CFO of Medtronic, sold 662 ordinary shares on December 6, 2024.
- The sale was executed at a price of $84.01 per share.
- This transaction was to cover tax obligations arising from the vesting of restricted stock units.
- Following the transaction, Mr. Corona beneficially owns 32,721 ordinary shares.
- This total includes 213 shares acquired through dividend reinvestment and 135 shares acquired through the company's Employee Stock Ownership Plan since his last report.
Sentiment
Score: 5
Explanation: The document reflects a routine transaction related to executive compensation and does not indicate any positive or negative sentiment.
Positives
- Mr. Corona's total holdings increased due to dividend reinvestment and participation in the Employee Stock Ownership Plan.
Industry Context
This is a routine filing related to executive stock transactions and is common for publicly traded companies. It does not indicate any specific trend or issue within the medical device industry.
Comparison to Industry Standards
- Executive stock transactions are a common practice across all publicly listed companies, including Medtronic's competitors such as Abbott, Boston Scientific, and Stryker.
- These companies also have similar reporting requirements for insider transactions.
- The sale of shares to cover taxes after vesting is a standard practice for executives receiving stock-based compensation.
Stakeholder Impact
- The transaction has a minimal impact on shareholders as it is a routine sale of shares by an executive to cover taxes.
Key Dates
| Date | Description |
|---|---|
| 12/06/2024 | Date of the stock sale transaction by Gary Louis Corona. |
| 12/09/2024 | Date the Form 4 was signed by attorney-in-fact. |
Keywords
Medtronic, MDT, insider trading, Form 4, stock sale, executive compensation, Gary Louis Corona, Interim CFO, stock ownership, dividend reinvestment, employee stock ownership plan
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