Form 4: MYR Group Director William Patterson Reports Stock Vesting and Settlement
SEC Form 4 Filing
Director William Patterson reports the vesting and settlement of restricted stock units into MYR Group Inc. common stock.
Summary
- On April 20, 2024, William Patterson, a director of MYR Group Inc., had 877 restricted stock units (RSUs) vest.
- These RSUs were awarded on April 20, 2023, under the company's 2017 Long-Term Incentive Plan.
- The vested RSUs were settled on a one-for-one basis, resulting in Patterson acquiring 877 shares of MYR Group Inc. common stock.
- Following the transaction, Patterson directly owns 32,627 shares of MYR Group Inc. common stock.
Sentiment
Score: 5
Explanation: This is a neutral event. It's a standard reporting of stock vesting, neither particularly positive nor negative.
Positives
- The vesting of RSUs indicates that the director has met certain performance or time-based criteria set by the company.
- The director's increased stock ownership aligns his interests with those of other shareholders.
Industry Context
This filing is a routine disclosure related to insider transactions and is a normal part of corporate governance.
Stakeholder Impact
- The transaction has a minimal impact on shareholders as it represents a small percentage of the total outstanding shares.
Key Dates
| Date | Description |
|---|---|
| 04/20/2023 | Date the Restricted Stock Units were awarded. |
| 04/20/2024 | Date the Restricted Stock Units vested and were settled. |
| 04/22/2024 | Date of the signature on the Form 4 filing. |
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