4/A: Parker-Hannifin Director Amends Filing to Correct Stock Ownership and Include Power of Attorney

Joseph Scaminace, a director at Parker-Hannifin Corp, amends a previous SEC Form 4 filing to correct an arithmetic error in reported stock ownership and include an updated Power of Attorney.

Summary

• Joseph Scaminace, a director at Parker-Hannifin Corp, filed an amended SEC Form 4.
• The amendment corrects an arithmetic error that led to an underreporting of 656 shares of common stock in previous filings dating back to November 10, 2022.
• The amended filing also includes an updated Power of Attorney.
• The director sold 1,751 shares of common stock on August 15, 2024, at a price of $589.73 per share.
• Following the transaction, the director directly owns 457 shares and indirectly owns 3,900 shares through the Joseph Scaminace Revocable Trust.
• The director also holds 453 Restricted Stock Units granted in October 2023, which will vest in October 2024, and 4 shares acquired through a dividend reinvestment plan.

Sentiment

Score: 6

Explanation: The document is a routine regulatory filing correcting a previous error and disclosing a stock transaction. It doesn't contain information that would significantly sway investor sentiment positively or negatively.

Industry Context

This filing is a routine disclosure related to insider trading activities, which are common among corporate executives and directors. These filings are closely monitored by investors for insights into management's perspective on the company's stock.

Comparison to Industry Standards

• Executive compensation and stock ownership structures at Parker-Hannifin are likely comparable to those of other large industrial manufacturers such as Eaton Corporation, Emerson Electric, and Rockwell Automation.
• These companies typically use a mix of salary, stock options, and restricted stock units to incentivize and retain key personnel.
• Insider trading activities are subject to strict regulatory oversight, and companies like Parker-Hannifin have compliance programs to ensure adherence to SEC rules.

Key Dates

Keywords

SEC Form 4, Parker-Hannifin, Director, Stock Ownership, Amendment, Power of Attorney, Joseph Scaminace