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

Jeff Rodino, President-RV of Patrick Industries, acquired stock options and stock appreciation rights on February 25, 2025, according to a Form 4 filing.

Summary

• Jeff Rodino, President-RV of Patrick Industries, filed a Form 4 with the SEC.
• The filing reports the acquisition of stock options and stock appreciation rights on February 25, 2025.
• Rodino acquired 42,180 stock options with an exercise price of $92.72, which become exercisable at 25% per year starting February 25, 2026.
• He also acquired 10,545 stock appreciation rights at exercise prices of $92.72, $110.76, $132.31 and $158.05, which become exercisable at 25% per year starting February 25, 2026.
• The expiration date for the stock options and most of the stock appreciation rights is February 25, 2034, except for one tranche of stock appreciation rights which expires on January 17, 2026.

Sentiment

Score: 6

Explanation: The document is a routine regulatory filing related to executive compensation. It is neither particularly positive nor negative, but reflects standard corporate practices.

Positives

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

Future Outlook

The document does not contain specific forward-looking statements, but the vesting schedule suggests a multi-year commitment from the executive.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. The acquisition of stock options and appreciation rights is a common form of executive compensation in the industry.

Comparison to Industry Standards

• Stock option and stock appreciation rights grants are a common component of executive compensation packages in publicly traded companies, including those in the manufacturing and RV industries.
• The vesting schedule of 25% per year over four years is a typical vesting arrangement.
• Comparable companies such as Thor Industries and Winnebago Industries also utilize stock options and appreciation rights as part of their executive compensation plans.

Stakeholder Impact

• The acquisition of stock options and appreciation rights aligns the executive's interests with those of the shareholders, potentially leading to better company performance.
• The vesting schedule encourages long-term commitment from the executive, which could benefit employees and other stakeholders.

Key Dates