Form 4: Patrick Industries Director Todd M. Cleveland Sells Shares in February and March
SEC Form 4
Director Todd M. Cleveland of Patrick Industries Inc. (PATK) sold a total of 27,600 shares of common stock in late February and early March.
Summary
- Todd M. Cleveland, a director at Patrick Industries Inc., sold 19,076 shares of common stock on February 29, 2024, at a weighted average price of $119.2879.
- The sales prices ranged from $118.50 to $120.255.
- He then sold 8,524 shares on March 1, 2024, at a weighted average price of $120.4366, with prices ranging from $120.00 to $120.92.
- Following these transactions, Cleveland directly owns 88,629 shares and indirectly owns 34,237 shares through a limited liability corporation.
Sentiment
Score: 5
Explanation: This is a neutral disclosure of stock sales by a company director. It doesn't inherently indicate positive or negative sentiment about the company's prospects.
Industry Context
This Form 4 filing is a routine disclosure of insider trading activity. It provides transparency to investors regarding the transactions of company insiders.
Stakeholder Impact
- The stock sale could have a minor negative impact on shareholder sentiment, although the amounts are not significant relative to the company's overall market capitalization.
Key Dates
| Date | Description |
|---|---|
| 02/29/2024 | Sale of 19,076 shares of common stock. |
| 03/01/2024 | Sale of 8,524 shares of common stock. |
| 03/04/2024 | Date of Form 4 signature. |
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