Form 4: Miller Industries Executive VP Frank Madonia Reports Stock Transactions
SEC Form 4 Filing
Frank Madonia, Executive VP, Secretary & GC of Miller Industries, reports the vesting and conversion of restricted stock units and subsequent tax withholding.
Summary
- On March 6, 2025, Frank Madonia, Executive VP, Secretary & GC of Miller Industries, converted 2,893 restricted stock units into common stock.
- These restricted stock units vested on March 6, 2025, as part of a plan that vests in three equal annual installments.
- 694 shares were withheld to cover tax obligations related to the vesting.
- Following these transactions, Madonia directly owns 6,759 shares of common stock and 5,786 restricted stock units.
- Madonia also holds 4,000 time-based restricted stock units that vest in five equal annual installments commencing on March 1, 2023.
Sentiment
Score: 5
Explanation: This is a neutral event, reflecting standard executive compensation and regulatory reporting.
Industry Context
This filing is a routine disclosure of stock transactions by a company executive, which is common in publicly traded companies. It provides transparency to investors regarding insider activity.
Comparison to Industry Standards
- Form 4 filings are standard practice for publicly traded companies and their executives, ensuring compliance with SEC regulations.
- Similar filings are made by executives at comparable companies like Wabash National and Trinity Industries, reflecting their stock transactions.
Stakeholder Impact
- The transaction has a minor impact on shareholders as it involves the conversion of existing equity awards.
- Employees may be interested in the details of executive compensation.
Key Dates
| Date | Description |
|---|---|
| 03/01/2023 | Commencement date for vesting of 4,000 time-based restricted stock units in five equal annual installments. |
| 03/06/2025 | Date of transaction: conversion of 2,893 restricted stock units to common stock and tax withholding. |
| 03/10/2025 | Date of signature on the Form 4 filing. |
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