Form 4: Patterson Companies Executive Les B. Korsh Reports Share Transactions and Stock Option Holdings
SEC Form 4 Filing
Les B. Korsh, CLO & Corporate Secretary of Patterson Companies, Inc., reported the withholding of shares for tax purposes and details of stock options and restricted stock units.
Summary
- Les B. Korsh, the CLO & Corporate Secretary of Patterson Companies, Inc., filed a Form 4 detailing changes in beneficial ownership.
- The filing includes the withholding of 1,052 shares of common stock at $20.76 per share for FICA taxes.
- Korsh also holds 102,713 shares of common stock directly and 2,255 shares indirectly through an ESOP.
- The report details various employee stock options granted to Korsh over the years, with different exercise prices and vesting schedules.
- Korsh also holds 31,015 restricted stock units (RSUs) that vest over the next few years.
Sentiment
Score: 5
Explanation: The document is a neutral report of transactions and holdings, with no indication of positive or negative sentiment.
Industry Context
This filing is a routine disclosure of insider transactions, which is common for publicly traded companies. It provides transparency into the compensation and ownership structure of the company's executives.
Comparison to Industry Standards
- Form 4 filings are standard practice for publicly traded companies in the US, as mandated by the SEC.
- The stock option grants and RSU awards are typical forms of executive compensation in the industry, designed to align management's interests with those of shareholders.
- The vesting schedules for the options and RSUs are also common, incentivizing long-term performance and retention.
Stakeholder Impact
- The filing provides transparency to shareholders regarding executive compensation and ownership.
- The information is relevant to investors tracking insider activity and potential future stock dilution from option exercises.
Key Dates
| Date | Description |
|---|---|
| 07/01/2015 | Stock options granted pursuant to the Patterson Companies, Inc. Amended and Restated Equity Incentive Plan. |
| 07/01/2016 | Stock options granted pursuant to the Plan. |
| 07/01/2017 | Stock options granted pursuant to the Plan. |
| 07/01/2018 | Stock options granted pursuant to the Plan. |
| 07/01/2019 | Stock options granted pursuant to the Plan. |
| 07/14/2020 | Stock options granted pursuant to the Plan. |
| 07/01/2020 | Stock options granted pursuant to the Plan. |
| 07/01/2021 | Stock options granted pursuant to the Plan. |
| 07/01/2022 | Stock options granted pursuant to the Plan. |
| 07/01/2023 | Stock options granted pursuant to the Plan. |
| 08/22/2024 | Date through which ESOP holdings are reported. |
| 11/12/2024 | Date of the reported transaction involving share withholding for taxes. |
| 11/13/2024 | Date of the signature on the Form 4. |
| 07/01/2025 | Vesting date for 11,633 restricted stock units. |
| 07/01/2026 | Vesting date for 11,059 restricted stock units. |
| 07/01/2027 | Vesting date for 8,323 restricted stock units. |
Keywords
Form 4, Patterson Companies, Stock Options, Restricted Stock Units, Beneficial Ownership, Les B. Korsh, Equity Compensation, Insider Trading
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