Form 4: Nordstrom Executive Ken Worzel Reports Stock Transactions

Nordstrom's Chief Customer Officer, Ken Worzel, executed several transactions involving company stock and performance share units on December 4, 2024.

Summary

• Ken Worzel, Chief Customer Officer at Nordstrom, engaged in multiple transactions involving the company's common stock on December 4, 2024.
• These transactions included the acquisition of 1,064 shares at $23.99 per share through the conversion of Performance Share Units.
• Simultaneously, 1,064 shares were withheld to cover federal, state, and FICA taxes related to the conversion of Performance Share Units.
• An additional 2,936 shares were withheld to satisfy tax obligations related to the vesting of Restricted Stock Units (RSUs).
• Following these transactions, Mr. Worzel directly owns 212,010 shares of Nordstrom stock and indirectly owns 5,652 shares through a 401(k) plan.
• He also holds 58,045 Performance Share Units that vest on March 10, 2025, and 80,538 Performance Share Units that vest on March 10, 2026.

Sentiment

Score: 5

Explanation: The document is a routine filing of stock transactions by an executive, which is neither positive nor negative in itself. It is a neutral event.

Industry Context

This filing is a routine disclosure of stock transactions by a company executive, which is common practice in publicly traded companies. It provides transparency into the executive's holdings and transactions.

Comparison to Industry Standards

• Form 4 filings are standard practice for publicly traded companies in the US, and Nordstrom's filing is consistent with these requirements.
• The transactions reported are typical for executives who receive stock-based compensation, such as performance share units and restricted stock units.
• The tax withholding practices are also standard, where shares are often withheld to cover tax obligations.

Stakeholder Impact

• The transactions have a minimal impact on shareholders as they are related to executive compensation and tax obligations.
• The filing provides transparency to stakeholders regarding executive stock ownership.

Key Dates

Keywords

Nordstrom, Ken Worzel, stock transactions, performance share units, restricted stock units, insider trading, executive compensation, Form 4