Form 4: Northern Trust Executive Steven Fradkin Reports Stock Transaction

Steven Fradkin, President of Wealth Management at Northern Trust, reports the disposition of 4,042 common stock shares to cover tax obligations related to vesting stock units.

Summary

• Steven L. Fradkin, President of Wealth Management at Northern Trust Corp, filed a Form 4 detailing changes in beneficial ownership.
• On March 1, 2024, Mr. Fradkin disposed of 4,042 shares of common stock at a price of $81.90 to cover federal, state, and Medicare taxes upon the vesting of 9,629 previously reported stock units.
• The remaining 5,587 shares from the vesting were distributed to Mr. Fradkin and transferred to his existing trust account.
• Following the transaction, Mr. Fradkin directly owns 46,078 shares of Northern Trust common stock.
• He also has indirect ownership through various trusts and a 401(k) plan.
• The filing was signed by Bradley R. Gabriel, Attorney-in-Fact for Steven L. Fradkin, on March 5, 2024.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing detailing a routine stock transaction. It doesn't inherently convey positive or negative sentiment.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This filing indicates that a high-ranking executive at Northern Trust has sold shares to cover tax obligations, which is a common practice.

Key Dates