Form 4: Parker Hannifin Executive Acquires Stock Appreciation Rights
SEC Form 4 Filing
Rachid Bendali, VP & President of Engineering Materials Group at Parker Hannifin, reports acquisition of stock appreciation rights.
Summary
- On August 14, 2024, Rachid Bendali, VP & President of Engineering Materials Group at Parker Hannifin, acquired 4,870 stock appreciation rights (SARs) at a price of $578.39.
- These SARs are exercisable into common stock.
- The SARs vest in three equal annual installments starting August 14, 2025.
- Following the transaction, Bendali directly owns 4,870 derivative securities.
Sentiment
Score: 5
Explanation: The document is a standard SEC filing related to executive compensation, indicating a neutral sentiment.
Industry Context
This filing is a routine disclosure of executive compensation in the form of stock appreciation rights, a common practice in publicly traded companies to align management's interests with those of shareholders.
Stakeholder Impact
- The acquisition of stock appreciation rights by a key executive aligns their interests with shareholders, potentially incentivizing performance that benefits the company's stock price.
Key Dates
| Date | Description |
|---|---|
| 08/14/2024 | Date of transaction: Rachid Bendali acquired Stock Appreciation Rights. |
| 08/14/2025 | First vesting date for the Stock Appreciation Rights. |
| 08/13/2034 | Expiration date of the Stock Appreciation Rights. |
| 08/16/2024 | Date of report filing. |
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