4/A: Park National Corp Executive David Trautman Reports Changes in Beneficial Ownership
SEC Form 4/A
David Trautman, Chairman and CEO of Park National Corp, files an amended Form 4 detailing changes in his beneficial ownership of company stock due to PBRSU vesting, tax withholding adjustments, and a transfer to a managing agency account.
Summary
- David Trautman, Chairman and CEO of Park National Corporation, filed an amended Form 4 with the SEC.
- The filing reports changes in his beneficial ownership of Park National Corp common shares.
- These changes are due to the vesting of performance-based restricted stock units (PBRSUs), adjustments for tax withholding, and a transfer of shares to a managing agency account.
- On March 31, 2024, 2,250 PBRSUs vested, converting into common shares.
- Park National Corp withheld 1,038.388 and 934.517 common shares at $135.85 to cover tax obligations related to the vesting of PBRSUs.
- Trautman transferred 2,302.095 common shares to the David L. Trautman Managing Agency Account in April 2024.
- Between January 1 and March 31, 2024, Trautman acquired 212.713 common shares through the Park National Corporation Employees Stock Ownership Plan (KSOP).
Sentiment
Score: 5
Explanation: This is a routine regulatory filing, so the sentiment is neutral.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders and their holdings in the company.
Stakeholder Impact
- The filing provides transparency to shareholders regarding executive compensation and stock ownership.
- The vesting of PBRSUs and subsequent tax withholding may impact the company's share count and financial statements.
Key Dates
| Date | Description |
|---|---|
| 01/01/2021 | Effective date of PBRSUs granted to the reporting person. |
| 01/01/2024 | Start date for KSOP share acquisition period. |
| 03/31/2024 | Date of earliest transaction, PBRSU certification date, and end date for KSOP share acquisition period. |
| 04/02/2024 | Date of original Form 4 filing. |
| 04/11/2024 | Date of transfer of shares to the David L. Trautman Managing Agency Account. |
| 04/19/2024 | Date of amended Form 4/A filing. |
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