Form 4: Nordstrom COO Alexis DePree Sells Shares to Cover Tax Obligations

Nordstrom's Chief Operating Officer, Alexis DePree, disposed of 7,727 shares of common stock on June 10, 2024, to cover tax obligations related to vesting Restricted Stock Units (RSUs).

Summary

• Alexis DePree, the Chief Operating Officer of Nordstrom, Inc., reported a transaction involving the disposal of company stock.
• On June 10, 2024, DePree disposed of 7,727 shares of Nordstrom common stock at a price of $21.21 per share.
• This transaction was executed to satisfy tax obligations associated with the vesting of Restricted Stock Units (RSUs).
• Following the transaction, DePree beneficially owns 189,331 shares of Nordstrom common stock directly.

Sentiment

Score: 6

Explanation: The document is neutral in sentiment. It simply reports a routine transaction by a company executive to cover tax obligations. It's a standard practice and doesn't necessarily indicate a positive or negative outlook for the company.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This transaction is a common occurrence where executives sell shares to cover tax obligations related to equity compensation.

Comparison to Industry Standards

• Similar transactions are common among executives at publicly traded companies like Macy's (M) and Kohl's (KSS), where stock-based compensation is a significant part of executive pay.
• These companies also see regular Form 4 filings related to stock option exercises and RSU vesting.
• The amount of shares sold is relatively small compared to the total shares outstanding, suggesting it is unlikely to have a significant impact on the stock price.

Stakeholder Impact

• The transaction is unlikely to have a significant impact on shareholders, employees, customers, suppliers, or creditors, as it is a routine sale of shares by an executive to cover tax obligations.

Key Dates