Form 4: RBC Bearings CEO Michael Hartnett Reports Stock Transactions
SEC Form 4 Filing
RBC Bearings' CEO, Michael Hartnett, reports the acquisition and disposal of company stock and derivative securities.
Summary
- Michael Hartnett, the President and CEO of RBC Bearings INC, filed a Form 4 detailing changes in beneficial ownership.
- On September 11, 2024, Hartnett acquired 30,695 shares of common stock at $143.92 per share through option exercise and disposed of 15,000 shares at $284.1793 per share and 7,560 shares at $284.7198 per share.
- On September 12, 2024, Hartnett acquired 39,000 shares of common stock at prices of $143.92 and $137.44 through option exercise and disposed of 28,300 shares at $284.8912 per share.
- Following these transactions, Hartnett directly owns 312,954 shares of common stock.
- Hartnett also exercised options to purchase common stock at prices of $143.92 and $137.44.
- He continues to hold options to purchase 76,000 shares at $199.16.
Sentiment
Score: 5
Explanation: The document is a standard SEC filing detailing stock transactions, which is neutral in sentiment.
Industry Context
This filing is a routine disclosure of stock transactions by a company insider, as required by the SEC. It provides transparency to investors regarding the trading activities of key personnel.
Stakeholder Impact
- The reported transactions may influence investor sentiment regarding RBC Bearings.
- The CEO's stock activity is often monitored by investors as an indicator of confidence in the company's future performance.
Key Dates
| Date | Description |
|---|---|
| 06/03/2022 | Date of option grant with exercise price of $143.92 and expiration date of 06/03/2026 |
| 06/02/2023 | Date of option grant with exercise price of $137.44 and expiration date of 06/02/2027 |
| 09/11/2024 | Date of stock and derivative security transactions |
| 09/12/2024 | Date of stock and derivative security transactions |
| 09/13/2024 | Date of signature on the Form 4 filing |
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