Form 4: Parker Hannifin's COO Andrew Ross Executes Stock Transactions
SEC Form 4 Filing
Chief Operating Officer Andrew Ross of Parker Hannifin Corp. reports multiple transactions involving common stock and stock appreciation rights.
Summary
- Andrew Ross, the Chief Operating Officer of Parker Hannifin Corp., filed a Form 4 detailing changes in beneficial ownership.
- On November 6, 2024, Ross exercised stock appreciation rights, acquiring 11,390 shares at a price of $158.90.
- He then disposed of 6,526 shares to cover tax obligations at $704.35 per share.
- Ross also sold shares in multiple transactions at weighted average prices of $704.39 (536 shares), $705.41 (1,691 shares), and $706.78 (2,637 shares).
- Following these transactions, Ross directly owns 13,120 shares of common stock.
- He also indirectly owns 404 shares held by his sons and 4,438.51 shares through the Parker Retirement Savings Plan and Savings Restoration Plan.
Sentiment
Score: 5
Explanation: The document is a neutral report of stock transactions. It doesn't convey any positive or negative sentiment about the company's performance or future prospects.
Industry Context
This filing is a routine disclosure of insider transactions, which are common for executives at publicly traded companies. It provides transparency into the trading activities of company insiders.
Comparison to Industry Standards
- Form 4 filings are standard practice for publicly traded companies and their executives.
- The transactions are typical for executives managing their equity compensation and personal finances.
- There is no indication of unusual activity compared to similar filings from executives at comparable companies like Eaton Corporation or Emerson Electric.
Stakeholder Impact
- The transactions may have a minor impact on shareholders due to the change in ownership, but the overall effect is likely minimal.
- Employees participating in the Parker Retirement Savings Plan and Savings Restoration Plan may see slight changes in their holdings due to the indirect transactions.
Key Dates
| Date | Description |
|---|---|
| 08/14/2020 | Date Stock Appreciation Rights became exercisable |
| 08/13/2029 | Expiration date of Stock Appreciation Rights |
| 11/06/2024 | Date of stock transactions and exercise of stock appreciation rights |
| 11/08/2024 | Date of Form 4 filing |
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