Form 4: Modine Manufacturing Co. Executive Lucareli Michael B. Reports Acquisition and Disposal of Common Stock

EVP and CFO Michael B. Lucareli reports acquisition of 3,008 shares of common stock and disposal of 452 shares to cover tax withholding.

Summary

• Michael B. Lucareli, EVP and CFO of Modine Manufacturing Co., reported acquiring 3,008 shares of common stock on May 16, 2025, through an award of restricted stock units.
• These restricted stock units will vest in three tranches: 33% on May 16, 2026, 33% on May 16, 2027, and the remaining 34% on May 16, 2028.
• Each restricted stock unit represents a contingent right to receive one share of MOD common stock.
• Lucareli also disposed of 452 shares of common stock on May 16, 2025, at a price of $104.53 to cover tax withholding.
• Following these transactions, Lucareli beneficially owns 135,087 shares of Modine common stock, which includes 971 units held in the Modine 401(k) Retirement Plan account.

Sentiment

Score: 6

Explanation: The sentiment is neutral as the filing represents routine stock transactions related to executive compensation. There are no indications of significant positive or negative events.

Positives

• The acquisition of 3,008 shares through restricted stock units indicates confidence in the company's future performance.

Negatives

• The disposal of 452 shares to cover tax withholding, while routine, slightly reduces Lucareli's holdings.

Risks

• The vesting of restricted stock units is contingent on continued employment and company performance, which could be affected by various market and economic factors.

Future Outlook

The vesting schedule of the restricted stock units indicates a long-term incentive plan for the executive, aligning his interests with the company's performance over the next three years.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This filing indicates standard compensation practices through stock-based awards.

Comparison to Industry Standards

• Stock-based compensation is a common practice among publicly traded companies to align executive interests with shareholder value.
• Companies like Parker Hannifin and Danfoss also utilize similar stock-based compensation plans for their executives.
• The vesting schedule of Modine's restricted stock units is typical, with vesting occurring over a three-year period.

Stakeholder Impact

• The stock transactions have a minor impact on shareholders, reflecting standard executive compensation practices.

Key Dates

Keywords

Modine Manufacturing Co., Michael B. Lucareli, Form 4, Beneficial Ownership, Restricted Stock Units, Common Stock, Tax Withholding, Insider Trading