Form 4: Modine Manufacturing CEO Disposes of Shares for Tax Withholding Under Pre-Arranged Plan

Modine Manufacturing Co.'s President and CEO, Neil David Brinker, disposed of 4,305 shares of common stock at $91.66 per share to cover tax withholding obligations, as part of a pre-arranged Rule 10b5-1 plan.

Summary

• Neil David Brinker, President and CEO, and a Director of Modine Manufacturing Co. (MOD), reported a disposition of common stock.
• The transaction involved 4,305 shares of common stock.
• The shares were disposed of at a price of $91.66 per share.
• The disposition was made to cover tax withholding obligations, as explicitly stated in the filing.
• The transaction was conducted pursuant to a Rule 10b5-1(c) pre-arranged contract, instruction, or written plan for the purchase or sale of equity securities.
• Following this transaction, Neil David Brinker beneficially owns 272,948 shares of common stock directly.

Sentiment

Score: 5

Explanation: The transaction is a routine disposition of shares to cover tax withholding, which is a non-discretionary event and does not reflect a change in management's sentiment regarding the company's future prospects. It is a neutral event.

Future Outlook

NA

Industry Context

This filing is a routine insider transaction report (Form 4) and does not provide information directly related to broader industry trends or competitive landscape. It reflects a standard compensation-related stock disposition by a corporate executive.

Stakeholder Impact

• Shareholders: This is a routine, non-discretionary sale for tax purposes by an insider and is unlikely to have a significant impact on shareholder sentiment or the company's stock price. The CEO retains a substantial beneficial ownership.

Key Dates

Keywords

Modine Manufacturing, MOD, SEC Form 4, Insider Trading, Stock Disposition, Tax Withholding, Rule 10b5-1, CEO Stock Sale, Corporate Governance