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

Neal Dongre, SVP, Gen Counsel & Corp Sec of MSC Industrial Direct Co., Inc., reports acquisition and disposal of Class A Common Stock and derivative securities.

Summary

• On November 5, 2024, Neal Dongre, SVP, Gen Counsel & Corp Sec of MSC Industrial Direct Co., Inc., reported transactions involving Class A Common Stock.
• Dongre acquired 588 shares upon vesting of performance share units (PSUs) and 67.303 shares from dividend equivalent units.
• He disposed of 190.303 shares to cover tax withholding obligations related to the vesting of PSUs at a price of $82.06.
• Additionally, 147 shares were acquired upon vesting of restricted stock units (RSUs) and 16.826 shares from dividend equivalent units.
• He disposed of 47.826 shares to cover tax withholding obligations arising from the vesting of RSUs and DEUs at a price of $82.06.
• Following these transactions, Dongre beneficially owns 2,997 shares of Class A Common Stock.
• He also owns 147 Restricted Stock Units and 145 Dividend Equivalent Units.

Sentiment

Score: 5

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

Positives

• The vesting of performance share units and restricted stock units indicates that performance criteria and continued employment requirements were met.

Future Outlook

147 RSUs vest on November 5, 2025, 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.

Comparison to Industry Standards

• Executive compensation packages often include stock and option awards to align management's interests with those of shareholders.
• Vesting schedules for restricted stock units (RSUs) are typically structured to incentivize long-term employment and performance.
• Tax withholding obligations arising from the vesting of equity awards are a common occurrence for executives.

Stakeholder Impact

• The transactions have a minor impact on shareholders as they reflect routine executive compensation activities.

Key Dates