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

Charles R. Roeder, EVP and Chief Sales Officer at Patrick Industries, sold 165 shares of common stock to cover tax obligations related to a vested stock grant.

Summary

• Charles R. Roeder, an executive at Patrick Industries, sold 165 shares of common stock on January 27, 2025, at a price of $97.5 per share.
• This sale was to cover tax withholding obligations associated with a stock grant that fully vested in January 2025.
• The reported common stock holding has been adjusted to reflect a three-for-two stock split paid by the issuer on December 13, 2024.
• The reported common stock options holding has also been adjusted to reflect the same three-for-two stock split.
• The stock options became fully exercisable on May 14, 2023.

Sentiment

Score: 5

Explanation: This is a neutral event, reflecting a routine transaction for tax purposes. It does not indicate any positive or negative sentiment about the company's performance.

Industry Context

This is a routine transaction for executives who receive stock-based compensation. It is common for executives to sell shares to cover tax obligations when stock grants vest.

Comparison to Industry Standards

• Stock sales by executives 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.
• The vesting schedule and option exercise dates are typical for executive compensation packages.

Stakeholder Impact

• The stock sale has a minimal impact on shareholders as it is a small transaction by an executive to cover tax obligations.

Key Dates

Keywords

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