Form 4: Prudential Financial Executive Timothy Schmidt Reports Share Gift and 401(k) Adjustments
SEC Form 4 Filing
Senior Vice President Timothy Schmidt of Prudential Financial reported a gift of 183 shares to a charitable foundation and an adjustment to his 401(k) holdings.
Summary
- Timothy Schmidt, a Senior Vice President at Prudential Financial, filed a Form 4 detailing changes in his beneficial ownership of company stock.
- He gifted 183 shares of common stock to a 501(c)(3) charitable foundation.
- Following this transaction, Mr. Schmidt directly holds 12,053 shares and indirectly holds 289 shares through a 401(k) account.
- The 401(k) holdings were adjusted to include 6 shares acquired between March 31, 2024 and September 30, 2024.
- Mr. Schmidt also holds 14,905 vested stock options, 9,542 restricted stock units, and 32,640 target performance shares.
Sentiment
Score: 7
Explanation: The document is a routine regulatory filing, indicating no significant positive or negative sentiment. It is a neutral event in the context of the company's overall performance.
Industry Context
This filing is a routine disclosure of changes in beneficial ownership by a company executive, which is standard practice in the financial industry.
Comparison to Industry Standards
- Form 4 filings are a standard requirement for company insiders in the US, as mandated by the Securities and Exchange Commission (SEC).
- The reporting of stock gifts, 401(k) adjustments, and holdings of stock options and restricted stock units are common elements in these filings.
- Similar filings can be seen from executives at other large financial institutions such as JP Morgan Chase, Bank of America, and Goldman Sachs.
Stakeholder Impact
- The stock gift has a negligible impact on shareholders as it is a small transaction by an individual executive.
- The 401(k) adjustment is a routine update and has no material impact on stakeholders.
Key Dates
| Date | Description |
|---|---|
| 03/31/2024 | Start date for the period in which 6 shares were acquired under The Prudential Employee Savings Plan. |
| 09/30/2024 | End date for the period in which 6 shares were acquired under The Prudential Employee Savings Plan and date of the plan statement. |
| 11/15/2024 | Date of the stock gift transaction. |
| 11/18/2024 | Date the Form 4 was signed. |
Keywords
Form 4, Beneficial Ownership, Prudential Financial, Stock Gift, 401(k), Stock Options, Restricted Stock Units, Performance Shares, Timothy Schmidt
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.