Form 4: Northern Trust Executive Clive Bellows Reports Changes in Beneficial Ownership

Executive Vice President Clive Bellows reports changes in beneficial ownership of Northern Trust Corp stock due to tax withholdings upon vesting of stock units.

Summary

• Clive Bellows, an Executive Vice President at Northern Trust Corp, filed a Form 4 to report changes in beneficial ownership of the company's common stock.
• The transactions occurred on March 1, 2025, and involved the withholding of shares to cover tax obligations related to the vesting of stock units.
• 662 shares were withheld at a price of $110.27 to cover Federal, State, and Medicare taxes upon the vesting of 1,267 previously reported stock units.
• An additional 1,775 shares were withheld at a price of $81.9 to cover taxes upon the distribution of 3,409 previously reported shares resulting from vested stock units.
• Following these transactions, Bellows directly owns 32,036 shares of Northern Trust Corp common stock, which includes 26,272 stock units payable automatically on a 1-for-1 basis.
• The tax calculation for some shares was based on the fair market value from the vesting date of March 1, 2024, due to a 12-month hold period.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing related to executive compensation and does not contain information that would significantly impact investor sentiment.

Industry Context

Form 4 filings are a routine part of executive compensation and provide transparency into the trading activities of company insiders. These filings are closely watched by investors seeking insights into management's perspective on the company's stock.

Comparison to Industry Standards

• Executive compensation practices, including stock unit vesting and tax withholding, are common across the financial services industry.
• Companies like JP Morgan Chase, Bank of America, and Goldman Sachs also utilize stock-based compensation for their executives, and similar Form 4 filings are regularly submitted to the SEC.
• The specific details of stock unit vesting schedules and tax withholding policies can vary between companies.

Stakeholder Impact

• The transactions reported have a minimal direct impact on shareholders, employees, customers, suppliers, and creditors.
• The filing provides transparency regarding executive compensation, which can influence shareholder perceptions of management alignment with company performance.

Key Dates