Form 4: Movado Group Director Alexander Grinberg Reports Stock Transactions
SEC Form 4 Filing
Director Alexander Grinberg reports disposition of Movado Group shares to cover tax obligations and acquisition of phantom stock units.
Summary
- On March 29, 2024, Director Alexander Grinberg disposed of 607 shares of Movado Group common stock to cover tax withholding obligations at a price of $27.93 per share.
- Following this transaction, Grinberg directly owns 4,798 shares of Movado Group common stock.
- Grinberg also indirectly owns 4,935 shares through an IRA and 6,426 shares through a trust.
- Additionally, Grinberg acquired 32.77 phantom stock units under the issuer's Deferred Compensation Plan on March 31, 2024.
- These phantom stock units are the economic equivalent of Movado Group common stock and will be distributed in equal annual installments over 10 years following termination of employment.
- Following the phantom stock unit acquisition, Grinberg now owns 2,512.43 phantom stock units.
- The reporting person has an attorney-in-fact, Mitchell C. Sussis.
Sentiment
Score: 5
Explanation: The document reflects routine transactions related to insider stock ownership and compensation, with no indication of unusual or concerning activity.
Future Outlook
The phantom stock units will be distributed in equal annual installments for 10 years following the reporting person's termination of employment with the issuer.
Industry Context
Form 4 filings are standard disclosures for corporate insiders and provide transparency into their transactions in the company's stock. This filing indicates routine transactions related to stock-based compensation and tax obligations.
Key Dates
| Date | Description |
|---|---|
| 03/29/2021 | Date of original stock awards that vested on 03/29/2024. |
| 03/29/2024 | Date of common stock disposition for tax withholding. |
| 03/31/2024 | Date of phantom stock unit acquisition. |
| 04/02/2024 | Date of signature on the Form 4 filing. |
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