Form 4: Modine Manufacturing Co. Executive Sells Shares to Cover Tax Withholding

Eric S. McGinnis, President of Climate Solutions at Modine Manufacturing Co., disposed of 643 shares of common stock to cover tax withholding on May 31, 2024.

Summary

• On May 31, 2024, Eric S. McGinnis, President of Climate Solutions at Modine Manufacturing Co., disposed of 643 shares of common stock.
• The transaction was executed to cover tax withholding obligations.
• The price per share was $100.92.
• Following the transaction, McGinnis directly owns 83,130 shares of Modine Manufacturing Co. common stock.

Sentiment

Score: 5

Explanation: The sentiment is neutral as the filing simply reports a transaction to cover tax obligations, which is a routine event.

Industry Context

Form 4 filings are standard disclosures required by the SEC when company insiders, like officers and directors, trade their company's stock. These filings provide transparency into insider transactions, which can be closely watched by investors for signals about a company's prospects. In this case, the sale is explicitly for tax withholding, which is a common reason for such transactions and may not necessarily reflect a change in the executive's outlook on the company.

Key Dates