Form 4: Patterson Companies CEO Donald Zurbay Executes Stock Sale Under 10b5-1 Plan
SEC Form 4 Filing
Donald Zurbay, President & CEO of Patterson Companies, sold 7,216 shares of common stock at $24.99 per share on July 16, 2024, under a pre-arranged Rule 10b5-1 trading plan.
Summary
- On July 16, 2024, Donald Zurbay, the President & CEO of Patterson Companies, sold 7,216 shares of common stock at a price of $24.99 per share.
- The sale was executed under a Rule 10b5-1 trading plan adopted on September 25, 2023, and amended on March 12, 2024.
- Following the transaction, Zurbay directly owns 230,072 shares of Patterson Companies' common stock.
- Zurbay also indirectly owns 1,198 shares through the Employee Stock Ownership Plan (ESOP) as of May 4, 2024.
- He holds options to purchase a total of 470,620 shares of common stock through various employee stock option grants.
- These options were granted between 2018 and 2023 and have exercise prices ranging from $22.25 to $33.26.
- Zurbay also holds 144,455 restricted stock units (RSUs) that will vest between December 2024 and July 2027.
Sentiment
Score: 5
Explanation: The document is a standard SEC filing detailing a stock sale by the CEO. It doesn't inherently convey positive or negative sentiment, as it's a routine disclosure.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the trading activities of company insiders. The use of a 10b5-1 plan suggests the insider's trading was pre-planned and not based on any material non-public information.
Comparison to Industry Standards
- Comparing Zurbay's compensation and equity holdings to CEOs of similar-sized companies in the healthcare distribution industry would provide context.
- Companies like Henry Schein (HSIC) and McKesson (MCK) could serve as benchmarks for executive compensation and stock ownership.
- Analyzing the vesting schedules of Zurbay's RSUs and stock options against industry norms would also be informative.
Stakeholder Impact
- The stock sale could have a minor impact on shareholder sentiment, but is unlikely to be significant given the pre-planned nature of the transaction.
- The transaction does not directly impact employees, customers, suppliers, or creditors.
Key Dates
| Date | Description |
|---|---|
| 06/29/2018 | Date of inducement award of employee stock options outside the Plan. |
| 07/01/2018 | Date of employee stock options granted pursuant to the Plan. |
| 07/01/2019 | Date of employee stock options granted pursuant to the Plan. |
| 07/14/2020 | Date of employee stock options granted pursuant to the Plan. |
| 07/01/2021 | Date of employee stock options granted pursuant to the Plan. |
| 09/25/2023 | Date Reporting Person adopted Rule 10b5-1 Plan. |
| 03/12/2024 | Date Reporting Person amended Rule 10b5-1 Plan. |
| 05/04/2024 | Date of ESOP account share information. |
| 07/16/2024 | Date of stock sale transaction. |
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