Form 4: Moog Inc. CEO Patrick Roche Reports Stock Transactions
SEC Form 4 Filing
Patrick Roche, CEO of Moog Inc., reports the exercise of stock appreciation rights and subsequent stock transactions.
Summary
- Patrick Roche, the CEO of Moog Inc., filed a Form 4 detailing changes in his beneficial ownership of company stock.
- On September 20, 2024, Roche exercised 5,000 Class A Common stock appreciation rights (SARs) at a price of $74.38.
- This resulted in the acquisition of 5,000 shares and the disposition of 3,392 shares to cover tax obligations, with the shares being valued at $204.21 on the date of exercise.
- Following these transactions, Roche directly owns 16,627 shares of Class A Common stock and 10,400 shares of Class B Common stock.
- He also indirectly owns 466 shares of Class B Common stock through the Moog Inc. Retirement Savings Plan.
- The report also details Roche's holdings of various SARs with different exercise prices and expiration dates.
- Eric Moss signed the report on Roche's behalf under a power of attorney dated May 7, 2024.
Sentiment
Score: 5
Explanation: The document is a neutral report of stock transactions. It doesn't contain information that would significantly sway investor sentiment positively or negatively.
Industry Context
This filing is a routine disclosure of insider transactions, which are common for executives who receive stock-based compensation. It provides transparency to investors regarding the trading activities of company leadership.
Comparison to Industry Standards
- Executive compensation packages often include stock options and SARs to align management's interests with those of shareholders.
- The exercise of SARs and subsequent sale of shares to cover taxes is a standard practice.
- Companies like TransDigm Group Incorporated, HEICO Corporation, and Curtiss-Wright Corporation, which are also in the aerospace and defense industry, have similar executive compensation structures.
Stakeholder Impact
- The transactions have a minimal direct impact on stakeholders.
- The filing provides transparency to shareholders regarding executive compensation and stock ownership.
Key Dates
| Date | Description |
|---|---|
| May 7, 2024 | Date of power of attorney granted to Eric Moss. |
| September 20, 2024 | Date of stock appreciation rights exercise and stock transactions. |
| November 11, 2024 | Expiration date of some SARs. |
| November 17, 2025 | Expiration date of some SARs. |
| November 15, 2026 | Expiration date of some SARs. |
| November 14, 2027 | Expiration date of some SARs. |
| November 13, 2028 | Expiration date of some SARs. |
| November 12, 2029 | Expiration date of some SARs. |
| November 17, 2030 | Expiration date of some SARs. |
| November 16, 2031 | Expiration date of some SARs. |
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