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

A Northern Trust executive, Teresa Parker, sold 759 shares of common stock to cover tax obligations related to previously reported stock units.

Summary

• Teresa Parker, President of Asset Servicing at Northern Trust Corp, sold 759 shares of common stock on December 3, 2024.
• The sale was executed at a price of $110.31 per share.
• This transaction was to cover tax withholding obligations related to previously reported stock units.
• Following the transaction, Ms. Parker directly owns 78,567 shares of Northern Trust common stock.
• She also indirectly owns 10,171.37 shares through a 401(k) plan as of September 30, 2024.
• The direct holdings include 62,477 stock units payable automatically on a 1-for-1 basis in shares of the Corporation's common stock.

Sentiment

Score: 5

Explanation: The document reflects a routine transaction for tax purposes, with no indication of positive or negative sentiment.

Industry Context

This is a routine transaction for executives to manage their tax obligations related to stock-based compensation. It is common for executives to sell shares to cover taxes when stock units vest.

Comparison to Industry Standards

• Executive stock sales for tax purposes are a common practice across the financial industry.
• Many executives at comparable firms such as State Street and Bank of New York Mellon regularly execute similar transactions.
• These sales are typically disclosed via Form 4 filings with the SEC, which is standard practice.

Stakeholder Impact

• The transaction has a minimal impact on shareholders as it is a routine sale for tax purposes.

Key Dates

Keywords

Northern Trust, NTRS, Teresa Parker, stock sale, insider trading, Form 4, executive compensation, tax obligations, asset servicing