Form 4: Miller Industries Executive Vincent J. Tiano Reports Stock Transactions
SEC Form 4 Filing
Vincent J. Tiano, Chief Revenue Officer of Miller Industries, reports the vesting and conversion of restricted stock units and subsequent tax withholding.
Summary
- On March 1, 2024, Vincent J. Tiano, Chief Revenue Officer of Miller Industries, converted 2,000 restricted stock units into common stock.
- 480 shares were withheld to cover tax obligations related to the vesting of these units at a price of $45.28 per share.
- Following these transactions, Tiano directly owns 3,040 shares of common stock.
- On March 6, 2024, Tiano was granted 8,679 restricted stock units that vest in three equal annual installments commencing on March 6, 2025.
- After the reported transactions, Tiano directly owns 6,000 restricted stock units that vested on March 1, 2024 and 8,679 restricted stock units that vest starting March 6, 2025.
Sentiment
Score: 5
Explanation: Neutral sentiment as it is a standard reporting of insider transactions.
Future Outlook
The reporting person will receive shares related to the vested restricted stock units not later than 30 days after the vesting date.
Industry Context
This filing is a routine disclosure of insider transactions, which are common for executives receiving stock-based compensation. It provides transparency into the executive's holdings and transactions in the company's stock.
Stakeholder Impact
- The transactions have a minimal direct impact on stakeholders, as they represent routine executive compensation and tax obligations.
Key Dates
| Date | Description |
|---|---|
| 03/01/2023 | Commencement date of vesting for time-based restricted stock units in five equal annual installments. |
| 03/01/2024 | Conversion of 2,000 restricted stock units to common stock and tax withholding. |
| 03/06/2024 | Grant date of 8,679 restricted stock units vesting in three equal annual installments. |
| 03/06/2025 | Commencement date of vesting for 8,679 time-based restricted stock units in three equal annual installments. |
| 03/08/2024 | Date of Form 4 signature. |
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