Form 4: Methode Electronics Director Mark Schwabero Reports Stock Award and Phantom Stock Acquisition
SEC Form 4 Filing
Director Mark Schwabero reports acquisition of phantom stock and disposition of common stock.
Summary
- Mark Schwabero, a director at Methode Electronics Inc., filed a Form 4 detailing changes in beneficial ownership.
- On June 17, 2024, Schwabero acquired 14,170 shares of phantom stock at a price of $9.88, bringing his total to 25,661.3 shares held indirectly in a deferred compensation plan.
- Schwabero also disposed of 6,000 shares of common stock.
- The phantom stock represents the economic equivalent of common stock and is payable in shares upon distribution from the deferred compensation plan.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing, indicating neutral sentiment.
Industry Context
Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to investors.
Stakeholder Impact
- The filing provides transparency to shareholders regarding insider transactions.
Key Dates
| Date | Description |
|---|---|
| 06/13/2024 | Date of Earliest Transaction |
| 06/17/2024 | Date of Phantom Stock Acquisition and Common Stock Disposition |
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