Form 4: Northern Trust Corp Vice Chairman Steven L. Fradkin Reports Stock Transaction

Northern Trust Corp's Vice Chairman, Steven L. Fradkin, reported a transaction involving the withholding of 475 common stock shares to cover tax obligations.

Summary

• Steven L. Fradkin, Vice Chairman of Northern Trust Corp, filed a Form 4 detailing a transaction on December 3, 2024.
• The transaction involved the withholding of 475 common stock shares at a price of $110.31 per share to satisfy tax obligations related to previously reported stock units.
• Following the transaction, Mr. Fradkin directly owns 45,603 shares of common stock.
• He also indirectly owns 153,962 shares through a trust, 47,797 shares through a gift trust, 1,762 shares through his spouse as trustee for his son, 1,762 shares through his spouse as trustee for his daughter, and 12,138.25 shares through a 401(k) plan as of September 30, 2024.

Sentiment

Score: 7

Explanation: The document is a routine regulatory filing related to an insider transaction, which is neither positive nor negative. The sentiment is neutral to slightly positive as it indicates the executive is holding a significant amount of stock.

Industry Context

This is a routine filing related to insider transactions and is common for executives of publicly traded companies.

Comparison to Industry Standards

• Form 4 filings are standard practice for publicly traded companies in the US, such as Northern Trust Corp, and are required by the SEC to ensure transparency of insider trading.
• Similar filings are made by executives at other financial institutions like JP Morgan Chase (JPM) and Bank of America (BAC) when they engage in stock transactions.

Stakeholder Impact

• The transaction has a minimal impact on shareholders as it is a routine tax withholding event.

Key Dates

Keywords

Form 4, Northern Trust Corp, Steven L. Fradkin, Stock Transaction, Beneficial Ownership, Tax Withholding, NTRS