Form 4: Northwest Natural Holding Co: VP, CIO James R. Downing Reports Stock Disposals for Tax Obligations
SEC Filing Form 4
James R. Downing, VP and CIO of Northwest Natural Holding Co, reports disposals of common stock to cover withholding taxes related to vesting of restricted stock units and performance shares.
Summary
- James R. Downing, VP, CIO of Northwest Natural Holding Co, filed a Form 4 detailing changes in beneficial ownership.
- On March 1, 2024, Downing disposed of 419 shares of common stock at $36.74 per share to cover withholding taxes on the vesting of restricted stock units (RSUs).
- Downing also disposed of 638 shares of common stock at $36.74 per share to cover withholding taxes on the issuance of performance shares.
- Following these transactions, Downing beneficially owns 8,593.457 shares of Northwest Natural Holding Co common stock.
Sentiment
Score: 5
Explanation: Neutral sentiment as the filing relates to routine stock disposals for tax purposes, which is a normal part of executive compensation.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. Disposals to cover tax obligations are common when restricted stock units or performance shares vest.
Stakeholder Impact
- The transactions have a minimal impact on shareholders as they are related to tax obligations of an executive.
Key Dates
| Date | Description |
|---|---|
| 02/23/2024 | Organization and Executive Compensation Committee certification of satisfaction of the performance threshold and payout of performance shares was reported on Form 4. |
| 03/01/2024 | Date of stock disposal transactions. |
| 03/05/2024 | Date of Form 4 signature. |
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.