Form 4: MSC Industrial Direct COO McIsaac Reports Stock Transactions
SEC Form 4
Martina McIsaac, President & COO of MSC Industrial Direct, reports the vesting of restricted stock units and associated tax withholding.
Summary
- On October 3, 2024, Martina McIsaac, the President & COO of MSC Industrial Direct Co., Inc., had restricted stock units (RSUs) vest and dividend equivalent units (DEUs) vest, which resulted in the acquisition of 1,173 shares and 87.034 shares of Class A Common Stock, respectively.
- She also disposed of 307.034 shares of Class A Common Stock to cover tax withholding obligations related to the vesting of the RSUs and DEUs at a price of $83.51 per share.
- Following these transactions, McIsaac directly owns 2,761 shares of Class A Common Stock, 2,346 Restricted Stock Units, and 567 Dividend Equivalent Units.
Sentiment
Score: 5
Explanation: This is a routine filing related to stock vesting and tax obligations, with no particularly positive or negative implications.
Positives
- The vesting of RSUs and DEUs indicates that McIsaac has met certain performance or time-based criteria set by the company.
Negatives
- The disposal of shares to cover tax obligations reduces McIsaac's overall holdings in the company.
Risks
- There are no specific risks mentioned in this document.
Future Outlook
1,173 RSUs are scheduled to vest on each of October 3, 2025 and October 3, 2026, provided that the Reporting Person remains continuously employed by the Issuer through each applicable vesting date.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders.
Stakeholder Impact
- The transactions have a minor impact on shareholders as they reflect insider activity related to compensation.
Key Dates
| Date | Description |
|---|---|
| October 3, 2022 | 4,692 RSUs were granted. |
| October 3, 2023 | 1,173 RSUs vested. |
| November 28, 2023 | 93.907 dividend equivalent units accrued. |
| January 23, 2024 | 95.286 dividend equivalent units accrued. |
| April 23, 2024 | 99.694 dividend equivalent units accrued. |
| July 23, 2024 | 112.51 dividend equivalent units accrued. |
| October 3, 2024 | Date of the reported transactions: vesting of RSUs and DEUs, and disposal of shares for tax obligations. |
| October 3, 2025 | 1,173 RSUs vest. |
| October 3, 2026 | 1,173 RSUs vest. |
| October 4, 2024 | Date of signature. |
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