Form 4: Northern Trust CFO David W. Fox Jr. Reports Stock Transaction

David W. Fox Jr., EVP & Chief Financial Officer of Northern Trust Corp, reported a transaction involving the withholding of shares to cover tax obligations and the holding of shares in trusts.

Summary

• David W. Fox Jr., the EVP & Chief Financial Officer of Northern Trust Corp, filed a Form 4 detailing changes in his beneficial ownership of company stock.
• On December 3, 2024, 276 shares of common stock were withheld to satisfy tax obligations related to previously reported stock units at a price of $110.31 per share.
• Following the transaction, Mr. Fox directly owns 14,969 shares of common stock.
• Additionally, Mr. Fox indirectly owns 40,636 shares through a trust where he is the trustee and has investment control.
• He also indirectly owns 5,000 shares through another trust for the benefit of himself and his descendants, where he also has investment control.
• Finally, he indirectly owns 11 shares through a trust.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing and does not indicate any positive or negative sentiment. It is a neutral disclosure of a stock transaction.

Industry Context

This is a routine filing for a corporate executive and is typical for executives who receive stock-based compensation. It provides transparency into the executive's holdings and transactions.

Comparison to Industry Standards

• Form 4 filings are standard practice for corporate insiders across all publicly traded companies in the US.
• The transaction is typical for executives who receive stock-based compensation and have tax obligations related to those awards.
• The use of trusts for holding shares is a common practice for estate planning and asset management among high-net-worth individuals, including corporate executives.

Stakeholder Impact

• The transaction has a minimal impact on shareholders as it is a routine tax withholding event for an executive.
• The filing provides transparency to stakeholders regarding the executive's stock ownership.

Key Dates

Keywords

Form 4, insider trading, beneficial ownership, stock transaction, Northern Trust Corp, David W. Fox Jr., executive compensation, tax withholding, trust