Form 4: Northern Trust Corp Executive Sells Shares to Cover Tax Obligations

Susan Cohen Levy, EVP and General Counsel at Northern Trust Corp, sold 298 shares of common stock to cover tax obligations related to previously reported stock units.

Summary

• Susan Cohen Levy, an Executive Vice President and General Counsel at Northern Trust Corp, has reported a transaction involving the sale of 298 shares of common stock.
• The sale was executed on December 3, 2024, at a price of $110.31 per share.
• These shares were sold to satisfy tax withholding obligations related to previously reported stock units.
• Following the transaction, Ms. Levy directly owns 16,834 shares of common stock.
• She also indirectly owns 25,230 shares through a 2023 GRAT, 55,726 shares through a 2024 GRAT, and 12,137 shares through an irrevocable trust.

Sentiment

Score: 5

Explanation: The document reflects a routine transaction for tax purposes, with no significant positive or negative implications for the company's performance or outlook.

Industry Context

This is a routine transaction for an executive to cover tax obligations related to stock-based compensation. It is common for executives to sell shares to cover these obligations.

Comparison to Industry Standards

• Form 4 filings are standard practice for corporate insiders and are required by the SEC to ensure transparency in the market.
• The sale of shares to cover tax obligations is a common practice among executives at publicly traded companies, including those in the financial services sector such as State Street Corporation (STT) and Bank of New York Mellon (BK).

Stakeholder Impact

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

Key Dates

Keywords

insider trading, stock sale, tax obligations, executive, Northern Trust Corp, NTRS, Form 4