Form 4: RBC Bearings CEO Michael Hartnett Executes Stock Options and Sells Shares
SEC Form 4
RBC Bearings' President and CEO, Michael J. Hartnett, recently exercised stock options and sold a portion of the acquired shares, according to a Form 4 filing.
Summary
- Michael J. Hartnett, President and CEO of RBC Bearings INC, executed options to purchase common stock and subsequently sold shares on September 13 and 16, 2024.
- On September 13, 2024, Hartnett exercised options to acquire 7,161 shares at $137.44 and 16,982 shares at $199.16.
- Also on September 13, 2024, he sold 19,283 shares at a price of $289.4237.
- On September 16, 2024, Hartnett exercised options to acquire 13,580 shares at $199.16 and sold 11,341 shares at $287.5188.
- Following these transactions, Hartnett directly owns 320,053 shares of common stock, which includes 48,297 shares of restricted stock vesting over the next few years.
- He also holds options to purchase common stock, with varying vesting schedules, totaling 116,234 options.
Sentiment
Score: 5
Explanation: The document is a standard SEC Form 4 filing, indicating insider transactions. It doesn't inherently convey positive or negative sentiment, but rather provides factual information about the CEO's stock activity.
Industry Context
Executive stock transactions are a common occurrence in publicly traded companies. Monitoring these transactions can provide insights into management's perspective on the company's valuation and future prospects.
Comparison to Industry Standards
- Comparing Hartnett's transactions to those of executives at similar companies like Timken or SKF could provide context on whether these actions are typical or indicative of a specific trend within RBC Bearings.
- Analyzing the ratio of options exercised to shares sold against industry averages can reveal if Hartnett is taking a more conservative or aggressive approach to managing his equity.
Stakeholder Impact
- Shareholders may interpret these transactions as a signal of the CEO's confidence (or lack thereof) in the company's future performance.
- The transactions could influence the stock price in the short term, depending on market perception.
Key Dates
| Date | Description |
|---|---|
| 06/03/2022 | Date of some options to purchase Common Stock |
| 06/02/2024 | Date of some options to purchase Common Stock |
| 05/23/2025 | Vesting date for a portion of restricted stock. |
| 06/01/2025 | Vesting date for a portion of restricted stock. |
| 06/02/2025 | Vesting date for some options to purchase Common Stock. |
| 06/03/2025 | Vesting date for a portion of restricted stock and options. |
| 05/23/2026 | Vesting date for a portion of restricted stock. |
| 06/01/2026 | Vesting date for a portion of restricted stock. |
| 06/03/2026 | Vesting date for a portion of options to purchase Common Stock. |
| 05/23/2027 | Vesting date for a portion of restricted stock. |
| 06/02/2027 | Expiration date for some options to purchase Common Stock. |
| 06/03/2028 | Expiration date for some options to purchase Common Stock. |
| 09/13/2024 | Date of option exercise and share sale transactions. |
| 09/16/2024 | Date of option exercise and share sale transactions. |
| 09/17/2024 | Date of Form 4 filing. |
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