Form 4: Nordstrom CEO Erik B. Nordstrom Reports Stock Transactions
SEC Form 4 Filing
Erik B. Nordstrom, CEO of Nordstrom Inc., reports the conversion of Performance Share Units to shares and shares withheld for tax obligations.
Summary
- On March 10, 2025, Erik B. Nordstrom, CEO of Nordstrom Inc., reported transactions involving the company's common stock and Performance Share Units.
- He acquired 51,109 shares of common stock through the conversion of Performance Share Units at a price of $24.42 per share.
- Additionally, 25,111 shares were disposed of to satisfy tax obligations related to the vesting of Restricted Stock Units (RSUs) and Performance Share Units (PSUs) at a price of $24.42.
- Following these transactions, Nordstrom directly owns 2,797,342 shares of common stock.
- He also indirectly owns shares through a 401(k) plan, his wife, and as trustee of various trusts.
- 19,427 Performance Share Units were forfeited because performance targets were not met.
Sentiment
Score: 5
Explanation: The sentiment is neutral as the filing primarily reports routine transactions related to executive compensation and tax obligations. The forfeiture of PSUs is a minor negative.
Negatives
- 19,427 Performance Share Units were forfeited due to the Board's determination that a percentage of the performance targets were not met.
Industry Context
Form 4 filings are standard practice and provide transparency into the trading activities of company insiders, which can be informative for investors.
Stakeholder Impact
- The transactions have a minimal direct impact on stakeholders, as they are related to executive compensation and tax obligations.
- The forfeiture of PSUs may slightly negatively impact employee morale.
Key Dates
| Date | Description |
|---|---|
| 01/31/2025 | Date of Plan statement for 401(k) holdings |
| 03/10/2025 | Date of earliest transaction: conversion of Performance Share Units and shares withheld for taxes |
| 03/12/2025 | Date of signature on the Form 4 filing |
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