Form 4: Northwest Pipe Co. Executive Eric Stokes Reports Stock Transactions Following Vesting of Restricted Stock Units

SVP/GM of Engineered SPP at Northwest Pipe Co., Eric Stokes, reports the acquisition of common stock and derivative securities following the vesting of restricted stock units and performance shares.

Summary

• Eric Stokes, SVP/GM of Engineered SPP at Northwest Pipe Co., filed a Form 4 detailing changes in his beneficial ownership of company stock.
• The transactions occurred on January 15, 2025, and involved the vesting of restricted stock units and performance shares.
• Stokes acquired a total of 2,549 shares of common stock through the vesting of restricted stock units.
• He also had 1,085 shares withheld by the company to cover taxes at a price of $48.66 per share.
• Additionally, Stokes acquired derivative securities in the form of restricted stock units and performance shares.
• The restricted stock units vest in installments over several years, while the performance shares vest based on the company's EBITDA margin.
• Following these transactions, Stokes directly owns 24,996 shares of common stock and various derivative securities.

Sentiment

Score: 7

Explanation: The document reflects standard executive compensation practices and does not indicate any significant positive or negative events. The vesting of shares is a positive for the executive, but is an expected event.

Positives

• The vesting of restricted stock units and performance shares indicates that Stokes is meeting performance criteria set by the company.
• The increase in share ownership aligns Stokes' interests with those of the shareholders.

Future Outlook

The document outlines future vesting dates for restricted stock units and performance shares, indicating continued equity-based compensation for the executive.

Industry Context

This filing is a routine disclosure of executive stock transactions, common in publicly traded companies. It reflects standard practices for equity-based compensation.

Comparison to Industry Standards

• The vesting schedules for restricted stock units are typical for executive compensation packages in publicly traded companies.
• The use of performance shares tied to EBITDA margin is a common practice to align executive incentives with company performance.
• Many companies in the industrial sector, such as Mueller Water Products and American Cast Iron Pipe Company, use similar equity-based compensation structures.

Stakeholder Impact

• The transactions have a minor positive impact on shareholders as they align executive interests with company performance.
• The vesting of shares is a positive for the executive, Eric Stokes.

Key Dates

Keywords

Form 4, Beneficial Ownership, Restricted Stock Units, Performance Shares, Stock Vesting, Executive Compensation, Northwest Pipe Co., NWPX, Eric Stokes