Form 4: MSC Industrial Direct Co. Inc. Executive Neal Dongre Reports Stock Transactions

Neal Dongre, VP, Gen Counsel & Corp Sec of MSC Industrial Direct Co. Inc., reports the vesting of restricted stock units and associated tax withholding.

Summary

• On June 29, 2024, Neal Dongre, VP, Gen Counsel & Corp Sec of MSC Industrial Direct Co. Inc., had restricted stock units (RSUs) vest, resulting in the acquisition of 123 shares of Class A Common Stock.
• Additionally, dividend equivalent units (DEUs) vested, leading to the acquisition of 24.945 shares of Class A Common Stock.
• 43.945 shares were disposed of to cover tax withholding obligations related to the vesting of RSUs and DEUs at a price of $79.31 per share.
• Following these transactions, Dongre directly owns 1,799 shares of Class A Common Stock and 172 derivative securities.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing detailing stock transactions, with no inherent positive or negative sentiment.

Industry Context

This filing is a routine disclosure related to executive compensation and is typical for publicly traded companies. It provides transparency into the stock-based compensation of company executives.

Comparison to Industry Standards

• Stock-based compensation is a common practice among publicly traded companies to align the interests of executives with those of shareholders.
• The vesting schedules and terms of RSUs are generally comparable to those offered by similar companies in the industrial distribution sector.
• Companies like Fastenal, Grainger, and Lawson Products also utilize stock-based compensation as part of their executive compensation packages.

Stakeholder Impact

• The transactions have a minor impact on shareholders as they relate to executive compensation and ownership.

Key Dates