Form 4: Newell Brands Executive Michael McDermott Reports Stock Transactions
SEC Form 4 Filing
Michael McDermott, a Segment CEO at Newell Brands, reported the vesting of restricted stock units and subsequent tax withholding on July 5, 2024.
Summary
- On July 5, 2024, Michael McDermott, a Segment CEO at Newell Brands, reported transactions involving Newell Brands common stock.
- 87,751 restricted stock units vested and converted into common stock on a one-for-one basis.
- 34,132 shares were withheld to cover taxes related to the vesting at a price of $6.06 per share.
- Following these transactions, McDermott directly owns 86,846 shares of common stock and indirectly owns 3,621.518 shares through a 401(k) plan.
Sentiment
Score: 5
Explanation: This is a neutral report of stock transactions, with no inherent positive or negative sentiment.
Industry Context
This Form 4 filing is a routine disclosure of stock transactions by a company executive, as required by the SEC. It provides transparency into the trading activities of company insiders.
Stakeholder Impact
- The transactions have a minor impact on shareholders as they reflect routine executive compensation and tax obligations.
Key Dates
| Date | Description |
|---|---|
| 07/05/2023 | Date of grant of restricted stock units that vested on July 5, 2024 |
| 07/05/2024 | Date of stock transactions: vesting of restricted stock units and tax withholding |
| 07/09/2024 | Date of signature of the Form 4 filing |
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