Form 4: Parker Hannifin CEO Jennifer Parmentier Reports Stock Transactions
SEC Form 4 Filing
Parker Hannifin's CEO, Jennifer Parmentier, reported the acquisition and disposal of company stock and derivative securities on August 22, 2024.
Summary
- On August 22, 2024, Jennifer Parmentier, CEO of Parker Hannifin Corp, engaged in transactions involving the company's stock.
- She acquired 6,620 shares of common stock through the exercise of stock appreciation rights at a price of $166.49.
- Parmentier also disposed of 3,979 shares to cover tax obligations at a price of $588.58.
- Additionally, she sold 2,241 shares at an average price of $588.45 and 400 shares at an average price of $589.36.
- Following these transactions, Parmentier directly owns 33,607 shares of Parker Hannifin Corp.
- She also indirectly owns 404 shares held by children and 1,239.31 shares through the Parker Retirement Savings Plan and Savings Restoration Plan.
Sentiment
Score: 5
Explanation: The document is a neutral report of stock transactions, with no inherent positive or negative sentiment.
Industry Context
This filing is a routine disclosure of insider trading activity, which is common for executives of publicly traded companies. It provides transparency into the buying and selling of company stock by its leadership.
Comparison to Industry Standards
- Form 4 filings are standard practice for publicly traded companies, ensuring transparency in insider trading.
- Executives at companies like Eaton Corporation and Emerson Electric also routinely file similar reports when they trade their company's stock.
- The transactions are typical for executives who receive stock options or grants as part of their compensation packages.
Stakeholder Impact
- The transactions may have a minor impact on shareholders due to the change in ownership, but the overall effect is likely negligible.
- Employees are unlikely to be directly affected by these transactions.
Key Dates
| Date | Description |
|---|---|
| 08/15/2019 | Date Stock Appreciation Rights were exercisable |
| 08/22/2024 | Date of stock transactions (acquisition and disposal). |
| 08/26/2024 | Date of signature on the Form 4 filing. |
| 08/14/2029 | Expiration date of Stock Appreciation Rights |
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