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

Stacey L. Neu, an executive at Patrick Industries, sold 218 shares of common stock to cover tax obligations related to a vested stock grant.

Summary

• Stacey L. Neu, Executive Vice President and Chief Human Resources Officer at Patrick Industries, sold 218 shares of common stock on January 27, 2025.
• The sale was executed to cover tax withholding obligations associated with a time-based stock grant that fully vested in January 2025.
• The shares were sold at a price of $97.5 per share.
• Following the transaction, Ms. Neu directly owns 19,745 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: 5

Explanation: The document reflects a routine transaction related to executive compensation and does not indicate any positive or negative sentiment.

Industry Context

This is a routine transaction related to executive compensation and tax obligations, common in publicly traded companies. It does not indicate any significant change in the company's outlook or performance.

Comparison to Industry Standards

• Executive stock sales to cover tax obligations are a common practice across publicly traded companies.
• The three-for-two stock split is a standard corporate action to increase the number of outstanding shares and potentially improve liquidity.
• Similar transactions are regularly reported by executives at comparable companies in the manufacturing and industrial sectors.

Stakeholder Impact

• The transaction has a minimal impact on shareholders as it is a routine sale to cover tax obligations.

Key Dates

Keywords

Patrick Industries, stock sale, insider trading, executive compensation, stock grant, tax withholding, stock split