Form 4: Moog Director Exercises SARs, Adjusts Holdings

Sentiment:

Insider Transaction Report 19 September 2025 4:20 PM

Moog Inc. Director John Scannell exercised 10,000 Stock Appreciation Rights and adjusted his beneficial ownership of Class B Common shares.

Summary

John Scannell, a Director at Moog Inc., reported transactions on September 17, 2025, involving the exercise of Stock Appreciation Rights (SARs).
He exercised 10,000 SARs with an exercise price of $65.90 per share.
The fair market value (FMV) of the Class B Common shares on the exercise date was $200.00 per share.
As a result of the SAR exercise, 10,000 underlying Class B Common shares were acquired.
To satisfy tax withholding obligations, 6,764 Class B Common shares were disposed of at a price of $200.00 per share.
Following these transactions, Scannell directly holds 35,783 Class B Common shares and 39,322 Class A Common shares.
He also indirectly holds 30,846 Class A Common shares through his spouse and 3,408 Class B Common shares in a 401(k) plan.
Scannell retains various SARs with exercise prices ranging from $63.04 to $85.95, with expiration dates between November 2025 and November 2031.

Sentiment

Score: 6

Explanation: The filing reports a routine insider transaction where a director exercised Stock Appreciation Rights and sold shares to cover tax obligations. This is a normal part of executive compensation and does not inherently signal a significant positive or negative shift in company fundamentals, leaning slightly positive due to the realization of value from incentives.

Positives

Director Scannell exercised 10,000 Stock Appreciation Rights, indicating a realization of value from previously granted incentives.
The exercise price of the SARs was $65.90, significantly below the fair market value of $200.00 on the transaction date, highlighting substantial appreciation in the underlying stock value.

Negatives

6,764 Class B Common shares were disposed of to cover tax withholding obligations, which reduced the direct beneficial ownership of Class B Common shares following the SAR exercise.

Future Outlook

Industry Context

Stakeholder Impact

Shareholders may view the director's exercise of SARs as a positive sign of value realization, although the subsequent sale for tax purposes is a standard practice and not indicative of a lack of confidence.

Key Dates

Date	Description
09/17/2025	Date of SAR exercise and related share transactions.
09/19/2025	Date the Form 4 was signed by Power of Attorney.
11/17/2025	Expiration date for 10,000 Class B Common SARs (exercise price $65.90) and 5,000 Class A Common SARs (exercise price $63.04).
11/15/2026	Expiration date for 20,000 Class B Common SARs (exercise price $71.648).
11/14/2027	Expiration date for 18,543 Class B Common SARs (exercise price $82.31).
11/13/2028	Expiration date for 27,949 Class B Common SARs (exercise price $80.19).
11/12/2029	Expiration date for 33,969 Class B Common SARs (exercise price $85.95).
11/17/2030	Expiration date for 25,130 Class B Common SARs (exercise price $73.39).
11/16/2031	Expiration date for 23,352 Class B Common SARs (exercise price $83).

Recommendation

hold

The filing details a routine insider transaction involving the exercise of Stock Appreciation Rights and subsequent share disposition for tax purposes. This type of transaction is common for executives and generally does not indicate a significant change in company fundamentals or future prospects, thus warranting a 'hold' recommendation based solely on this filing.

Keywords

MOOG, MOGA, MOGB, SEC Form 4, Insider Transaction, Stock Appreciation Rights, SARs, Director, Beneficial Ownership

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