Form 4: Myers Industries VP, Shared Services, Jeffrey Jon Baker, Reports Stock Transactions

Jeffrey Jon Baker, VP of Shared Services at Myers Industries, reports the vesting and conversion of restricted stock units and performance stock units into common stock, along with the disposition of shares to cover tax obligations.

Summary

• On March 16, 2024, Jeffrey Jon Baker, VP, Shared Services at Myers Industries, engaged in multiple transactions involving the company's stock.
• These transactions included the conversion of restricted stock units (RSUs) and performance stock units (PSUs) into common stock.
• Specifically, 1,182 RSUs, 8,507 PSUs, 2,049 RSUs and 2,479 RSUs vested and were converted into common stock.
• Baker also disposed of shares to satisfy tax withholding obligations, with 319, 2,293, 553 and 669 shares disposed of at a price of $20.84.
• Following these transactions, Baker directly owns 21,311 shares of Myers Industries common stock.
• The performance stock units were granted on March 16, 2021, and were based on the company's cumulative adjusted EBITDA over a three-year performance period ending December 31, 2023, with a relative TSR modifier.
• The restricted stock units were granted on March 16, 2021, March 15, 2022 and March 6, 2023 and vest in three equal annual installments.

Sentiment

Score: 5

Explanation: The document reflects routine insider transactions related to compensation. It doesn't contain information that would significantly shift investor sentiment.

Positives

• The vesting of performance stock units indicates that the company met certain performance criteria related to adjusted EBITDA and TSR.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. These filings are closely watched by investors seeking insights into management's perspective on the company's stock.

Comparison to Industry Standards

• Form 4 filings are standard practice for publicly traded companies and their insiders.
• The vesting schedules and performance metrics associated with the RSUs and PSUs are typical compensation practices.

Stakeholder Impact

• The transactions have a minimal impact on shareholders, as they represent routine insider activity.

Key Dates