4/A: Parker Hannifin CEO Corrects Stock Appreciation Rights Award in Amended SEC Filing
SEC Filing (Form 4/A)
Jennifer A. Parmentier, CEO of Parker Hannifin, files an amendment to a previous SEC Form 4 to correct the number of Stock Appreciation Rights (SARs) awarded.
Summary
- Jennifer A. Parmentier, Chief Executive Officer of Parker Hannifin Corp, filed an amended Form 4 with the SEC on March 7, 2024.
- The amendment corrects the number of Stock Appreciation Rights (SARs) awarded, which was over-reported in the original filing on August 18, 2023.
- The corrected filing shows that Parmentier was awarded 42,600 Stock Appreciation Rights on August 16, 2023, at a price of $406.32.
- These SARs vest in three equal annual installments beginning August 16, 2024, and expire on August 15, 2033.
Sentiment
Score: 7
Explanation: The document is a routine correction of an SEC filing, indicating standard corporate governance practices. The correction itself doesn't inherently suggest positive or negative sentiment, but the transparency is viewed favorably.
Future Outlook
The document does not contain any forward-looking statements regarding the company's future performance.
Management Comments
- The amendment to the Reporting Person's 8/18/2024 Form 4 filing corrects the number of SARs awarded, which amount was over-reported in Columns 5,7 and 9 on Table II.
Industry Context
This filing is a routine disclosure related to executive compensation and is required by the SEC for publicly traded companies. It provides transparency regarding the equity-based compensation of key executives.
Stakeholder Impact
- The correction of the SARs award ensures accurate reporting to shareholders and the public.
Key Dates
| Date | Description |
|---|---|
| 08/16/2023 | Date of the original transaction (grant of Stock Appreciation Rights). |
| 08/18/2023 | Date of the original Form 4 filing that contained an error. |
| 08/16/2024 | First vesting date for the Stock Appreciation Rights. |
| 08/15/2033 | Expiration date of the Stock Appreciation Rights. |
| 03/07/2024 | Date of the amended Form 4/A filing. |
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