MIDD.NASDAQMiddleby CORP

Form 4: Middleby Corp CEO Timothy Fitzgerald Sells Shares to Cover Tax Obligations

Sentiment:

SEC Form 4 Filing

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CEO Timothy Fitzgerald disposed of 5,950 shares of Middleby Corp stock to cover tax liabilities related to vesting of time-based RSUs.

Summary

  • On March 1, 2024, Timothy John Fitzgerald, CEO of Middleby Corporation, disposed of 5,950 shares of common stock at a price of $154.15 per share.
  • The transaction was related to the surrender of shares to cover Mr. Fitzgerald's tax liability in connection with the vesting of time-based Restricted Stock Units (RSUs).
  • Following the transaction, Mr. Fitzgerald directly owns 309,354 shares of Middleby Corp.
  • Mr. Fitzgerald also has indirect ownership through the Andrea C. FitzGerald 2012 Gift Trust (56,250 shares), the Timothy J. FitzGerald 2012 Gift Trust (20,000 shares), and shares held by his spouse and children (25,200 shares).

Sentiment

Score: 5

Explanation: Neutral sentiment as the filing reflects a routine transaction to cover tax obligations, which is a normal part of executive compensation.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This transaction is a common occurrence where executives sell shares to cover tax obligations arising from the vesting of stock-based compensation.

Stakeholder Impact

  • The transaction is unlikely to have a significant impact on stakeholders as it is a routine sale of shares to cover tax obligations.

Key Dates

DateDescription
03/01/2024Date of the stock transaction (disposal of shares).
03/05/2024Date of signature by Michael D. Thompson under Power of Attorney.

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