Form 4: Modine Manufacturing CEO Neil Brinker Reports Stock Award and Tax Withholding Transaction

Neil David Brinker, President and CEO of Modine Manufacturing Co., reports the acquisition of restricted stock units and a disposition of shares to cover tax withholding.

Summary

• On May 16, 2025, Neil David Brinker, the President and CEO of Modine Manufacturing Co., was awarded 11,710 restricted stock units.
• These units vest in three installments: 33% on May 16, 2026, 33% on May 16, 2027, and the remaining 34% on May 16, 2028.
• Each restricted stock unit represents the right to receive one share of MOD common stock.
• Also on May 16, 2025, Brinker disposed of 1,329 shares of common stock at a price of $104.53 to cover tax withholding obligations.
• Following these transactions, Brinker directly owns 280,887 shares of Modine Manufacturing Co.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. The stock award suggests confidence in the company's future, while the tax withholding is a routine transaction.

Positives

• The award of restricted stock units to the CEO aligns his interests with those of the shareholders, incentivizing long-term performance.

Future Outlook

The vesting schedule of the restricted stock units suggests a multi-year commitment and alignment of the CEO's interests with the company's long-term performance.

Industry Context

Executive compensation packages often include stock-based awards to align management's interests with shareholder value. This Form 4 filing reflects a typical component of executive compensation.

Comparison to Industry Standards

• Stock awards are a common component of executive compensation packages in publicly traded companies.
• Companies like Johnson Controls, Honeywell, and Lennox International also use stock awards as part of their executive compensation plans.
• The vesting schedule is fairly standard, with many companies using three-year vesting periods for restricted stock units.

Stakeholder Impact

• Shareholders may view the stock award positively as it aligns management's interests with long-term value creation.
• The tax withholding transaction has a negligible impact on other stakeholders.

Key Dates

Keywords

Form 4, Beneficial Ownership, Restricted Stock Units, Tax Withholding, Neil David Brinker, Modine Manufacturing Co, MOD, Insider Transaction