Form 4: Modine Manufacturing Co. Executive Agen Brian Jon Reports Acquisition of Restricted Stock Units

VP of Human Resources at Modine Manufacturing, Brian Jon Agen, reports acquiring 1,224 restricted stock units on May 16, 2024.

Summary

• On May 16, 2024, Brian Jon Agen, VP of Human Resources at Modine Manufacturing Co., acquired 1,224 restricted stock units.
• These restricted stock units vest in three tranches: 33% on May 16, 2025, 33% on May 16, 2026, and the remaining 34% on May 16, 2027.
• Each restricted stock unit represents a contingent right to receive one share of MOD common stock.
• Following the reported transaction, Agen directly owns 103,633 shares of Modine common stock, which includes 1,474 units held in the Modine 401(k) Retirement Plan account.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. The acquisition of restricted stock units is a standard practice and indicates confidence in the company's future performance.

Positives

• The acquisition of restricted stock units aligns the executive's interests with the long-term performance of the company.
• The vesting schedule encourages continued service and contribution to Modine's success.

Future Outlook

The executive's holdings will increase as the restricted stock units vest over the next three years, contingent on continued employment.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders and their alignment with shareholder interests.

Stakeholder Impact

• The transaction provides transparency to shareholders regarding executive compensation and ownership.
• Employees may view the vesting of restricted stock units as a positive incentive for management.

Key Dates