Form 4: Patterson Companies CHRO Samantha Bergeson Executes Stock Sale Under 10b5-1 Plan
SEC Form 4
Samantha Bergeson, CHRO of Patterson Companies, sold 254 shares of common stock at $23.87 per share on July 3, 2024, under a pre-arranged Rule 10b5-1 trading plan.
Summary
- On July 3, 2024, Samantha L. Bergeson, the CHRO of Patterson Companies, Inc., sold 254 shares of common stock at a price of $23.87 per share.
- The sale was executed under a Rule 10b5-1 trading plan adopted on October 6, 2023.
- Following the transaction, Bergeson directly owns 20,578 shares of common stock, which includes 11,990 restricted stock units (RSUs) that vest between 2025 and 2027.
- Bergeson also indirectly owns 959 shares through the Employee Stock Ownership Plan (ESOP) as of May 4, 2024.
- Additionally, Bergeson holds options to purchase 8,076 shares of common stock, granted on July 1, 2023, which become exercisable in three tranches starting July 1, 2024.
Sentiment
Score: 5
Explanation: The sentiment is neutral as the filing simply reports a routine stock sale under a pre-existing 10b5-1 plan. There is no indication of positive or negative sentiment towards the company.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. These filings are closely watched by investors seeking insights into management's perspective on the company's stock.
Comparison to Industry Standards
- Comparing Patterson Companies to similar firms like Henry Schein and McKesson, insider trading activity is a common occurrence.
- These companies also have executives who utilize 10b5-1 plans for scheduled stock transactions.
- The volume and frequency of these transactions are generally in line with industry norms for executive compensation and diversification strategies.
Stakeholder Impact
- The stock sale by an executive may have a minor impact on shareholder sentiment, but is unlikely to significantly affect the company's operations or financial condition.
- Employees holding company stock or options may be interested in insider trading activity as an indicator of management's confidence.
Key Dates
| Date | Description |
|---|---|
| 10/06/2023 | Date Reporting Person adopted Rule 10b5-1 Plan |
| 07/01/2023 | Date of stock options grant |
| 05/04/2024 | Date of ESOP holdings |
| 07/03/2024 | Date of transaction (stock sale) |
| 07/01/2024 | First vesting date of stock options (33.3%) |
| 07/01/2025 | Vesting date of 4,892 restricted stock units and second vesting date of stock options (33.3%) |
| 07/01/2026 | Vesting date of 3,978 restricted stock units and third vesting date of stock options (33.4%) |
| 07/01/2027 | Vesting date of 3,120 restricted stock units |
| 07/01/2033 | Expiration date of stock options |
| 07/08/2024 | Date of Form 4 filing |
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