Form 4: Patrick Industries Executive Acquires Stock Options and Appreciation Rights

Joel D. Duthie, Chief Legal Officer/Secretary of Patrick Industries, reports acquisition of stock options and stock appreciation rights.

Summary

• Joel D. Duthie, Chief Legal Officer/Secretary of Patrick Industries, filed a Form 4 on February 27, 2025, reporting transactions made on February 25, 2025.
• The transactions involve the acquisition of stock options and stock appreciation rights (SARs).
• Duthie acquired 4,220 stock options with an exercise price of $92.72.
• He also acquired 1,055 SARs at exercise prices of $92.72, $110.76, $132.31, and $158.05 respectively.
• The stock options and SARs become exercisable at 25% per year over a four-year period beginning on February 25, 2026.
• Following the reported transactions, Duthie directly owns 4,220 stock options and 1,055 SARs at each of the four different exercise prices.

Sentiment

Score: 6

Explanation: Neutral sentiment as the document simply reports the acquisition of stock options and appreciation rights, a common practice in executive compensation.

Positives

• The acquisition of stock options and SARs aligns the executive's interests with those of the shareholders.
• The vesting schedule encourages long-term commitment from the executive.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders.

Stakeholder Impact

• The acquisition of stock options and SARs could potentially incentivize the executive to improve company performance, benefiting shareholders.

Key Dates