4/A: Park National Corp Director Files Amended Form 4 After Stock Unit Conversion and Share Transfers
SEC Filing
Director C. Daniel DeLawder files an amended SEC Form 4 detailing changes in beneficial ownership of Park National Corp stock due to performance-based restricted stock unit conversion, tax withholding, and share transfers.
Summary
- C. Daniel DeLawder, a director of Park National Corp, filed an amended SEC Form 4 on April 19, 2024, to report changes in his beneficial ownership of the company's common shares.
- The amendment corrects an omission from the original filing on April 2, 2024, regarding the number of shares withheld for tax obligations upon the vesting of performance-based restricted stock units (PBRSUs).
- On March 31, 2024, 1,012.5 PBRSUs converted into common shares on a one-for-one basis.
- Also on March 31, 2024, 363.49 common shares were withheld at a price of $135.85 to satisfy tax obligations.
- In April 2024, 649.01 common shares were transferred from DeLawder's direct ownership to the C. Daniel DeLawder Managing Agency Account, resulting in indirect beneficial ownership.
- Between January 1 and March 31, 2024, DeLawder acquired 220.425 common shares under the Park National Corporation Employees Stock Ownership Plan (KSOP).
- Following these transactions, DeLawder directly owns 59,760 common shares and indirectly owns 12,515.498 shares through the Managing Agency Account, 27,323.029 shares through the KSOP, and 50,232 shares through his spouse, Diane S.
Sentiment
Score: 7
Explanation: The document is a standard regulatory filing detailing stock transactions. It doesn't inherently convey positive or negative sentiment, but the director's continued holdings suggest confidence in the company.
Industry Context
This filing is a routine disclosure related to insider transactions and is required by the SEC to ensure transparency in the market.
Stakeholder Impact
- The filing provides transparency to shareholders regarding insider transactions.
- The transactions themselves may have a minor impact on the stock price.
Key Dates
| Date | Description |
|---|---|
| 03/31/2024 | Conversion of 1,012.5 PBRSUs into common shares and tax withholding of 363.49 shares. |
| 03/31/2024 | KSOP plan statement date used for reporting. |
| 04/02/2024 | Date of original Form 4 filing. |
| 04/11/2024 | Transfer of 649.01 common shares to the Managing Agency Account. |
| 04/19/2024 | Date of amended Form 4/A filing. |
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.