Form 4: Moog Director Gisel Exercises SARs, Adjusts Holdings

Moog Inc. Director William G. Gisel Jr. exercised Stock Appreciation Rights and adjusted his beneficial ownership of Class B Common stock.

Summary

• Director William G. Gisel Jr. exercised 2,500 Stock Appreciation Rights (SARs) on September 9, 2025.
• The SARs, granted under the Moog Inc. 2014 Long Term Incentive Plan, had an exercise price of $65.90.
• Following the exercise, 2,500 Class B Common shares were acquired.
• Concurrently, 824 Class B Common shares were disposed of, primarily for tax withholding purposes, based on a fair market value of $200.00 per share on the exercise date.
• After these transactions, Mr. Gisel beneficially owns 12,227 Class B Common shares and 2,930 Class A Common shares.
• The exercised SARs were fully vested as of November 17, 2016, and had an expiration date of November 17, 2025.

Sentiment

Score: 6

Explanation: The exercise of SARs by a director is generally a positive signal, indicating confidence and realization of value. However, the disposition of shares for tax purposes is a neutral, expected event.

Positives

• Director Gisel exercised Stock Appreciation Rights, indicating a realization of value from long-term incentives.
• The fair market value of Class B Common stock on the exercise date was $200.00, significantly higher than the SAR exercise price of $65.90, suggesting a substantial gain for the director.

Negatives

• A portion of the shares (824 Class B Common shares) were disposed of, likely to cover tax obligations associated with the SAR exercise, which reduces the director's direct equity holding.

Future Outlook

NA

Industry Context

NA

Stakeholder Impact

• Shareholders: The director's exercise of SARs and continued significant beneficial ownership may be viewed as a positive signal of alignment with shareholder interests.
• Employees: The transaction highlights the operation of the company's long-term incentive plan, which can motivate key personnel.

Key Dates

Recommendation

This Form 4 filing details a routine insider transaction where a director exercised Stock Appreciation Rights and subsequently sold shares to cover tax obligations. While the exercise indicates a realization of value, it does not provide new fundamental information about the company's operational performance or strategic direction that would warrant a change in investment recommendation. The transaction is an expected part of executive compensation and does not signal a significant shift in insider sentiment or company prospects.

Keywords

Moog Inc., MOGA, MOGB, SEC Form 4, Insider Trading, Stock Appreciation Rights, SARs, Director Stock Transaction, Equity Compensation, William G. Gisel Jr.