Form 4: Metallus Inc. Executive VP Kristopher R. Westbrooks Reports Stock Transactions
SEC Form 4 Filing
Kristopher R. Westbrooks, EVP and CFO of Metallus Inc., reports the acquisition and disposal of common shares and the exercise of stock options on July 16, 2024, under a pre-arranged trading plan.
Summary
- On July 16, 2024, Kristopher R. Westbrooks, the EVP and Chief Financial Officer of Metallus Inc., engaged in multiple transactions involving the company's common stock.
- Westbrooks acquired 1,760 shares at $14.34 and 6,208 shares at $12.45 through the exercise of nonqualified stock options.
- He also disposed of 7,968 shares and 8,279 shares at weighted average prices of $23 and $23.0519 respectively.
- Following these transactions, Westbrooks directly owns 169,642 common shares.
- The transactions were executed under a pre-arranged trading plan (Rule 10b5-1(c)) adopted on March 7, 2024.
Sentiment
Score: 5
Explanation: The sentiment is neutral as the filing simply reports transactions executed under a pre-existing trading plan. There is no indication of positive or negative sentiment towards the company's prospects.
Industry Context
This Form 4 filing is a routine disclosure required by the SEC for corporate insiders, providing transparency into their trading activities. It allows investors to monitor the actions of key executives and their confidence in the company's prospects.
Stakeholder Impact
- The transactions may have a minor impact on shareholders by slightly increasing the float of available shares.
Key Dates
| Date | Description |
|---|---|
| 03/01/2020 | Start date for vesting of 6,208 nonqualified stock options in four equal annual installments. |
| 09/24/2019 | Start date for vesting of 1,760 nonqualified stock options in four equal annual installments. |
| 03/07/2024 | Date of adoption of written plan for the sale of the Company's common shares intended to satisfy the affirmative defense conditions of Exchange Act Rule 10b5-1(c). |
| 07/16/2024 | Date of the reported transactions: acquisition and disposal of common shares and exercise of stock options. |
| 03/01/2029 | Expiration date of nonqualified stock options (Right to buy) at $12.45. |
| 09/24/2028 | Expiration date of nonqualified stock options (Right to buy) at $14.34. |
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