Form 4: Patterson Companies Executive Les B. Korsh Reports Stock Sale and Option Holdings
SEC Form 4 Filing
Les B. Korsh, CLO & Corporate Secretary of Patterson Companies, Inc., reports the sale of 2,842 shares of common stock and details holdings of common stock and employee stock options.
Summary
- On July 3, 2024, Les B. Korsh, CLO & Corporate Secretary of Patterson Companies, Inc., sold 2,842 shares of common stock at a price of $23.7149 per share.
- The transaction was executed under a Rule 10b5-1 plan adopted on September 19, 2023.
- Following the transaction, Korsh directly owns 103,765 shares of common stock and indirectly owns 2,215 shares through the Employee Stock Ownership Plan (ESOP).
- Korsh also holds various employee stock options granted between 2015 and 2023, with exercise prices ranging from $22.25 to $56.66 and expiration dates between 2025 and 2033.
- These options cover a total of 170,147 shares of common stock.
Sentiment
Score: 5
Explanation: The sentiment is neutral as it's a standard disclosure of stock transactions. The sale could be for various personal financial reasons and doesn't necessarily indicate a negative outlook on the company.
Industry Context
Form 4 filings are standard disclosures required by the SEC to provide transparency into the transactions of company insiders. This allows investors to monitor the actions of key personnel and their sentiment towards the company's stock.
Stakeholder Impact
- The stock sale by a company executive may be perceived by shareholders and other stakeholders, but the impact is likely minimal given the relatively small number of shares sold and the existence of a pre-arranged trading plan.
Key Dates
| Date | Description |
|---|---|
| 07/01/2015 | Date of grant for some employee stock options. |
| 07/01/2016 | Date of grant for some employee stock options. |
| 07/01/2017 | Date of grant for some employee stock options. |
| 07/01/2018 | Date of grant for some employee stock options. |
| 07/01/2019 | Date of grant for some employee stock options. |
| 07/14/2020 | Date of grant for some employee stock options. |
| 07/01/2020 | Date of grant for some employee stock options. |
| 07/01/2021 | Date of grant for some employee stock options. |
| 07/01/2022 | Date of grant for some employee stock options. |
| 07/01/2023 | Date of grant for some employee stock options. |
| 09/19/2023 | Date the Reporting Person adopted the Rule 10b5-1 Plan. |
| 05/04/2024 | Date through which ESOP shares are accounted for. |
| 07/03/2024 | Date of the reported transaction (stock sale). |
| 07/08/2024 | Date of the Form 4 filing. |
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