Form 4: Patrick Industries Executive Jeff Rodino Sells Shares to Cover Tax Obligations

Patrick Industries President of RV, Jeff Rodino, sold 2,107 shares of common stock to cover tax obligations related to a vested stock grant.

Summary

• Jeff Rodino, President of RV at Patrick Industries, sold 2,107 shares of common stock on January 27, 2025.
• The sale was to cover tax withholding obligations associated with a stock grant that vested in January 2025.
• The shares were sold at a price of $97.5 per share.
• Following the transaction, Rodino directly owns 231,398 shares of Patrick Industries common stock.
• The reported common stock holding has been adjusted to reflect a three-for-two stock split paid by the issuer on December 13, 2024.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction for tax purposes, which is neither positive nor negative for the company's overall performance. The sentiment is neutral to slightly positive as it indicates the executive is receiving and vesting stock grants.

Industry Context

This is a routine transaction for an executive to cover tax obligations related to stock grants. It is common for executives to sell shares after vesting periods.

Comparison to Industry Standards

• Executive stock sales to cover tax obligations are a common practice across publicly traded companies.
• The sale of 2,107 shares is relatively small compared to the total holdings of 231,398 shares, suggesting it is a routine transaction rather than a significant divestment.
• Similar transactions are regularly reported by executives at other companies in the manufacturing and RV industries.

Stakeholder Impact

• The transaction is unlikely to have a significant impact on shareholders as it is a routine sale to cover tax obligations.
• The sale does not indicate any change in the executive's confidence in the company.

Key Dates

Keywords

Patrick Industries, Jeff Rodino, stock sale, insider trading, Form 4, tax obligations, stock grant, RV, stock split