Form 4: Nucor Corp Executive Michael Keller Reports Stock Transactions
SEC Form 4 Filing
Vice President and Corporate Controller Michael Keller reports the acquisition and disposal of Nucor Corp (NUE) common stock related to vesting of restricted stock units and tax liability payments.
Summary
- Michael Keller, Vice President and Corporate Controller of Nucor Corp, filed a Form 4 detailing changes in beneficial ownership.
- On June 1, 2024, Keller disposed of 229, 350, and 343 shares of common stock at a price of $168.85 per share to cover tax liabilities related to vesting of restricted stock units.
- These shares were withheld by the issuer for payment of tax liabilities incurred upon the vesting of previously awarded restricted stock units as reported on Form 4 dated 6/3/21, 6/3/22 and 6/5/23 respectively.
- On the same date, Keller acquired 1,845 shares of common stock at $0 related to vesting of restricted stock units.
- Following these transactions, Keller beneficially owns 25,795.71 shares of Nucor Corp common stock.
- The restricted stock units vest in three annual installments commencing on June 1, 2025, and are subject to acceleration upon termination of employment due to death, disability, retirement, or a change in control of the company.
Sentiment
Score: 6
Explanation: The sentiment is neutral as the filing reflects routine transactions related to executive compensation. There is no indication of unusual activity or concern.
Positives
- The acquisition of 1,845 shares indicates continued alignment of the executive's interests with the company's performance.
Future Outlook
The restricted stock units vest in three annual installments commencing on June 1, 2025, subject to certain conditions.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders and their alignment with shareholder interests. These filings are closely watched by investors seeking insights into management's confidence in the company's prospects.
Stakeholder Impact
- The transactions have a minimal direct impact on stakeholders, as they are related to routine executive compensation.
Key Dates
| Date | Description |
|---|---|
| 06/03/2021 | Date of previous Form 4 filing related to restricted stock units vesting. |
| 06/03/2022 | Date of previous Form 4 filing related to restricted stock units vesting. |
| 06/05/2023 | Date of previous Form 4 filing related to restricted stock units vesting. |
| 06/01/2024 | Date of the reported transactions: disposal of shares for tax liability and acquisition of shares from vesting restricted stock units. |
| 06/01/2025 | Commencement date for the three annual installments of vesting for the reported restricted stock units. |
| 06/04/2024 | Date of signature for the Form 4 filing. |
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