Form 4: Patrick Industries EVP Gonzalez Exercises Stock Options and Sells Shares
SEC Form 4
EVP and COO of Patrick Industries, Hugo Gonzalez, exercised stock options and sold a portion of the acquired shares on August 21, 2024.
Summary
- Hugo Gonzalez, EVP Operations & COO of Patrick Industries, exercised stock options to acquire 4,875 shares of common stock at a price of $41.33 on August 21, 2024.
- Following the exercise, Gonzalez sold 2,964 shares to cover tax obligations at a price of $129.46.
- After these transactions, Gonzalez directly owns 25,670 shares of Patrick Industries common stock.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing insider transactions, with no inherent positive or negative sentiment.
Industry Context
This Form 4 filing is a routine disclosure of insider transactions, providing transparency to investors regarding the actions of company executives. It's common for executives to exercise stock options and sell a portion of the shares to cover taxes.
Stakeholder Impact
- The transaction has a minor impact on shareholders as it involves a relatively small number of shares.
Key Dates
| Date | Description |
|---|---|
| 05/14/2023 | Date the stock options became fully exercisable |
| 08/21/2024 | Date of stock option exercise and share sale |
| 08/23/2024 | Date of Form 4 signature |
| 05/14/2029 | Expiration date of the stock options |
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