Form 4: Phinia Inc. CFO Chris P. Gropp Reports Changes in Beneficial Ownership
SEC Form 4 Filing
Chris P. Gropp, CFO of Phinia Inc., reports changes in beneficial ownership of company stock due to dividend reinvestment and tax withholding.
Summary
- On March 14, 2025, Chris P. Gropp, the CFO of Phinia Inc., reported changes in his beneficial ownership of the company's common stock.
- These changes include the acquisition of 355 shares through automatic reinvestment of dividends on restricted stock and 22 shares held by his spouse through automatic reinvestment of dividends on restricted stock.
- Additionally, 38 shares were disposed of to satisfy tax withholding requirements, as well as 3 shares held by his spouse.
- Following these transactions, Gropp directly owns 67,287 shares of common stock, including 50,196 shares of restricted stock.
- Gropp's spouse indirectly owns 3,865 shares, including 2,888 shares of restricted stock.
- Gropp disclaims beneficial ownership of the securities held by his spouse, and the filing of the report should not be deemed an admission that the reporting person is the beneficial owner of the securities for purposes of Section 16 or for any other purpose.
Sentiment
Score: 6
Explanation: The sentiment is neutral as the filing reflects routine transactions related to dividend reinvestment and tax obligations. There is no indication of significant positive or negative sentiment.
Positives
- The acquisition of shares through dividend reinvestment indicates a continued investment in the company by the CFO.
Negatives
- The disposal of shares to cover tax withholding reduces the CFO's direct ownership, although this is a common practice.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the trading activities of company insiders. This filing is typical for executives who receive stock-based compensation or participate in dividend reinvestment programs.
Stakeholder Impact
- The transactions have a minimal impact on stakeholders as they are related to routine dividend reinvestment and tax obligations.
Key Dates
| Date | Description |
|---|---|
| 03/14/2025 | Date of the reported transactions (acquisition and disposal of shares). |
| 03/18/2025 | Date of signature of the report. |
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