Form 4: Patrick Industries Director Michael Kitson Receives Annual Stock Grant
SEC Form 4 Filing
Director Michael Kitson of Patrick Industries received 1,245 shares of common stock as an annual director's stock grant on May 16, 2024.
Summary
- Michael Kitson, a director at Patrick Industries, 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, Kitson directly owns 9,798 shares of Patrick Industries common stock.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing regarding a stock grant, indicating a neutral sentiment.
Positives
- The stock grant to a director aligns their interests with those of the shareholders.
Industry Context
Stock grants to directors are a common practice in publicly traded companies to incentivize and align their interests with shareholders.
Stakeholder Impact
- The stock grant aligns the director's interests with those of the shareholders.
Key Dates
| Date | Description |
|---|---|
| 05/16/2024 | Date of the stock grant transaction. |
| 05/16/2025 | Vesting date of the stock grant. |
| 05/20/2024 | Date of Form 4 filing. |
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