Form 4: Patrick Industries CFO Andrew Roeder Acquires Shares Through Performance and Time-Based Grants

Patrick Industries' CFO, Andrew Roeder, acquired 7,812 shares of common stock through performance-based and time-based grants.

Summary

• Andrew Roeder, the EVP Finance, CFO & Treasurer of Patrick Industries, acquired a total of 7,812 shares of common stock on January 28, 2025.
• 6,250 shares were acquired through a performance-based grant that will vest after three years upon achievement of company objectives.
• An additional 1,562 shares were acquired through an annual management time-based grant that will vest in January 2028.
• The common stock holding has been adjusted to reflect a three-for-two stock split paid by the issuer on December 13, 2024.
• Following these transactions, Roeder directly owns 38,237 shares of Patrick Industries common stock.

Sentiment

Score: 7

Explanation: The document reflects a positive sentiment due to the CFO's increased stake in the company, indicating confidence. However, it is a routine filing and not a major event.

Positives

• The acquisition of shares by the CFO demonstrates confidence in the company's future performance.
• Performance-based grants align management's interests with the company's long-term success.
• Time-based grants provide an incentive for continued service and commitment from the CFO.

Risks

• The performance-based shares are subject to the company achieving specific objectives, which may not be met.
• The time-based shares will not vest until January 2028, which could be a long time for investors to wait for the benefit.

Future Outlook

The document does not contain any specific forward-looking statements or guidance.

Industry Context

This filing is a routine disclosure of insider transactions and is common for publicly traded companies. It reflects the company's compensation practices and alignment of management interests with shareholders.

Comparison to Industry Standards

• Stock-based compensation is a common practice among publicly traded companies, particularly for executive-level employees.
• Performance-based grants are often used to incentivize executives to achieve specific financial or operational targets, aligning their interests with those of shareholders.
• Time-based grants are also common, providing a retention incentive for key personnel.
• The three-for-two stock split is a fairly common corporate action to increase the number of outstanding shares and potentially improve liquidity.

Stakeholder Impact

• The increased share ownership by the CFO may be viewed positively by shareholders, indicating alignment of interests.
• The performance-based grants could motivate the CFO to drive company performance, benefiting all stakeholders.

Key Dates

Keywords

Patrick Industries, Andrew Roeder, CFO, stock acquisition, performance-based grant, time-based grant, insider trading, share ownership