Form 4: Modine Manufacturing Executive Sells Shares to Cover Tax Withholding
SEC Form 4 Filing
Eric S. McGinnis, President of Climate Solutions at Modine Manufacturing Co., sold 755 shares of common stock on August 25, 2024, to cover tax withholding obligations.
Summary
- On August 25, 2024, Eric S. McGinnis, President of Climate Solutions at Modine Manufacturing Co., disposed of 755 shares of common stock.
- The transaction was executed to cover tax withholding obligations.
- The shares were sold at a price of $119.42 per share.
- Following the transaction, McGinnis directly owns 80,551 shares of Modine Manufacturing Co. common stock.
Sentiment
Score: 5
Explanation: The sentiment is neutral as the filing simply reports a routine transaction to cover tax obligations. It doesn't indicate any positive or negative outlook for the company.
Industry Context
Form 4 filings are standard disclosures required by the SEC to ensure transparency in stock transactions by company insiders. This allows the public to stay informed about the actions of key personnel and their potential impact on the company's stock.
Stakeholder Impact
- The sale of shares by an executive could be perceived negatively by some shareholders, although it is a common practice for covering tax obligations.
Key Dates
| Date | Description |
|---|---|
| 08/25/2024 | Date of the transaction: Eric S. McGinnis sold 755 shares of common stock. |
| 08/26/2024 | Date of signature on the Form 4 filing. |
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