Form 4: Quest Diagnostics Executive Reports Stock Transactions Following Performance Share Award Settlement

Michael J. Deppe, SVP, Corp. Controller & CAO of Quest Diagnostics, reports acquisition and disposition of common stock related to a performance share award settlement.

Summary

• On February 23, 2024, Michael J. Deppe, SVP, Corp. Controller & CAO of Quest Diagnostics, reported transactions involving the company's common stock.
• Deppe acquired 1,689 shares of common stock at a price of $125.02 per share as settlement of a performance share award dated February 18, 2021.
• Concurrently, Deppe disposed of 631 shares at $125.02 per share to cover tax withholding obligations arising from the settlement.
• Following these transactions, Deppe directly owns 35,039 shares of Quest Diagnostics common stock.
• Deppe also indirectly owns 681 shares through the company's 401(k) plan.

Sentiment

Score: 6

Explanation: Neutral sentiment as the filing reflects routine transactions related to executive compensation. The acquisition of shares is a slightly positive signal, offset by the sale for tax purposes.

Positives

• The acquisition of shares indicates confidence in the company's performance, as the shares were awarded based on performance metrics.

Negatives

• The sale of shares to cover tax obligations, while standard, slightly reduces the executive's direct holdings.

Risks

• There are no specific risks highlighted in this document, as it primarily reports stock transactions.

Industry Context

Form 4 filings are routine disclosures required by the SEC to provide transparency into the transactions of company insiders, allowing investors to track executive sentiment and potential alignment with shareholder interests.

Stakeholder Impact

• The transactions have a minimal direct impact on stakeholders, as they are related to executive compensation and tax obligations.

Key Dates