Form 4: Patrick Industries Director Cleveland Receives Annual Stock Grant

Director Todd M. Cleveland of Patrick Industries Inc. received 1,245 shares of common stock as an annual director's stock grant on May 16, 2024.

Summary

• Todd M. Cleveland, a director at Patrick Industries Inc., received 1,245 shares of common stock on May 16, 2024.
• This was an annual director's stock grant.
• The grant vests on May 16, 2025.
• Following the transaction, Cleveland directly owns 89,874 shares of common stock.
• Cleveland also indirectly owns 34,237 shares held in a limited liability corporation.

Sentiment

Score: 7

Explanation: The document reflects a routine insider transaction (stock grant), which is generally neutral to slightly positive as it aligns director interests with shareholders.

Positives

• The grant of stock aligns the director's interests with those of the shareholders.

Industry Context

Director stock grants are a common practice in publicly traded companies to incentivize and align the interests of board members with shareholders.

Stakeholder Impact

• The stock grant aligns the director's interests with those of the shareholders, potentially encouraging decisions that benefit the company's long-term value.

Key Dates