Form 4: Methode Electronics Director Mark Schwabero Reports Phantom Stock Acquisition
SEC Form 4 Filing
Director Mark Schwabero reported the acquisition of phantom stock units through a dividend reinvestment in Methode Electronics' Nonqualified Deferred Compensation Plan.
Summary
- Mark Schwabero, a director of Methode Electronics Inc., reported a transaction involving phantom stock.
- On November 1, 2024, Schwabero acquired 402.18 shares of phantom stock at a price of $9.03 per share through the dividend reinvestment feature of the company's Nonqualified Deferred Compensation Plan.
- Following the transaction, Schwabero indirectly owns 26,342.62 shares of phantom stock through the deferred compensation plan.
- Schwabero also directly owns 6,000 shares of common stock.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing an insider transaction, which is neutral in sentiment.
Industry Context
This filing is a routine disclosure of insider transactions, which are common in publicly traded companies. It provides transparency into the actions of company directors and their holdings in the company's stock.
Stakeholder Impact
- The transaction provides transparency to shareholders regarding the director's investment in the company.
Key Dates
| Date | Description |
|---|---|
| 11/01/2024 | Date of phantom stock acquisition |
| 11/05/2024 | Date of report signature |
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