Form 4: Moog Inc. Director John Scannell Reports Share Transactions and Stock Appreciation Rights
SEC Form 4 Filing
Director John Scannell of Moog Inc. reports acquisition and disposal of Class B common stock, along with holdings of stock appreciation rights.
Summary
- John Scannell, a director at Moog Inc., reported several transactions involving the company's stock on November 16, 2024.
- He acquired 1,031 Class B common shares at $0 due to the vesting of a fixed dollar time vesting award.
- He disposed of 527 Class B common shares at $215.62 to cover tax obligations related to the vesting.
- Following these transactions, Scannell directly owns 32,547 Class B common shares and 39,322 Class A common shares.
- He also indirectly owns 30,846 Class A common shares through his spouse and 3,526 Class B common shares through a 401(k) plan.
- Scannell holds various stock appreciation rights (SARs) that become exercisable over three years from their grant dates, with expiration dates ranging from 2025 to 2031.
Sentiment
Score: 7
Explanation: The document is a routine disclosure of insider transactions, which is neither positive nor negative. The transactions are expected and related to compensation.
Industry Context
This filing is a routine disclosure of insider transactions, which is common for publicly traded companies. It provides transparency into the trading activities of company directors.
Comparison to Industry Standards
- The reporting of insider transactions via SEC Form 4 is a standard practice for all publicly traded companies in the United States.
- The vesting of stock awards and the subsequent tax withholding are common compensation practices.
- The use of Stock Appreciation Rights (SARs) is a typical method for long-term incentive compensation for executives and directors, similar to practices at companies like Lockheed Martin and General Dynamics.
Stakeholder Impact
- The transactions have a minimal impact on shareholders as they are related to the vesting of previously granted awards and tax obligations.
- The disclosure provides transparency to stakeholders regarding insider trading activities.
Key Dates
| Date | Description |
|---|---|
| 11/16/2021 | Date of the original grant of the fixed dollar-denominated time vesting award (TVA). |
| 11/16/2024 | Date of the reported transactions, including vesting of TVA and tax withholding. |
| 11/17/2025 | Expiration date for some of the Stock Appreciation Rights (SARs). |
| 11/15/2026 | Expiration date for some of the Stock Appreciation Rights (SARs). |
| 11/14/2027 | Expiration date for some of the Stock Appreciation Rights (SARs). |
| 11/13/2028 | Expiration date for some of the Stock Appreciation Rights (SARs). |
| 11/12/2029 | Expiration date for some of the Stock Appreciation Rights (SARs). |
| 11/17/2030 | Expiration date for some of the Stock Appreciation Rights (SARs). |
| 11/16/2031 | Expiration date for some of the Stock Appreciation Rights (SARs). |
| 11/19/2024 | Date the form was signed. |
Keywords
Moog Inc., John Scannell, Class B Common Stock, Class A Common Stock, Stock Appreciation Rights, SAR, Director, SEC Form 4, Insider Trading, Time Vesting Award
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