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

Kip B. Ellis, President of Powersports/Housing at Patrick Industries, sold 1,818 shares of common stock to cover tax obligations related to a vested stock grant.

Summary

• Kip B. Ellis, President of Powersports/Housing at Patrick Industries, sold 1,818 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 vested in January 2025.
• The shares were sold at a price of $97.5 per share.
• Following the transaction, Ellis directly owns 149,004 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 significant positive or negative sentiment.

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

• Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders.
• The sale of shares to cover tax obligations is a common practice among executives who receive stock-based compensation.
• The three-for-two stock split is a corporate action that is not uncommon and is often used to make shares more affordable for investors.

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, Form 4, executive compensation, stock grant, tax withholding, equity securities