Form 4: Patrick Industries Director Pamela Klyn Receives Annual Stock Grant

Director Pamela Klyn of Patrick Industries Inc. (PATK) acquired 1,245 shares of common stock on May 16, 2024, as part of an annual director's stock grant.

Summary

• On May 16, 2024, Pamela R. Klyn, a director of Patrick Industries Inc. (PATK), acquired 1,245 shares of common stock.
• The acquisition was part of an annual director's stock grant.
• The shares were granted at a price of $0.
• Following the transaction, Klyn directly owns 12,346 shares of Patrick Industries Inc.
• The stock grant vests on May 16, 2025.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction (director's stock grant), which is generally viewed neutrally to slightly positively as it aligns director interests with shareholders.

Positives

• The grant of stock to a director aligns their interests with those of the shareholders.
• Increased ownership by a director can be seen as a sign of confidence in the company's future prospects.

Future Outlook

The document does not contain any specific forward-looking statements regarding the company's future performance.

Industry Context

Director stock grants are a common practice in publicly traded companies to incentivize and align the interests of board members with shareholders. The size and vesting schedule of the grant are typical considerations.

Comparison to Industry Standards

• Director compensation packages, including stock grants, vary significantly across industries and company sizes.
• Comparing Patrick Industries' director compensation to that of its peers in the recreational vehicle and manufactured housing industries would provide a more detailed assessment.
• Companies like Winnebago Industries (WGO) and Skyline Champion Corporation (SKY) could be considered for benchmarking purposes.

Stakeholder Impact

• The stock grant aligns the director's interests with those of shareholders, potentially encouraging decisions that benefit the company's long-term value.
• The grant has a minimal impact on employees, customers, suppliers, and creditors.

Key Dates