Form 4: RBC Bearings CFO Robert Sullivan Reports Stock Transaction

Robert Sullivan, CFO of RBC Bearings INC, reports the withholding of shares to cover tax liabilities related to vesting restricted stock.

Summary

• On June 3, 2024, Robert M. Sullivan, Vice President and CFO of RBC Bearings INC, reported a transaction involving the withholding of 598 common stock shares to cover tax liabilities related to the vesting of restricted stock.
• The shares were withheld at a price of $295.28.
• Following the transaction, Sullivan directly owns 10,182 shares of common stock, which includes 5,500 shares of restricted stock vesting over several years.
• Sullivan also holds options to purchase common stock at various prices and expiration dates.

Sentiment

Score: 5

Explanation: This is a neutral transaction related to tax obligations. It doesn't indicate positive or negative sentiment towards the company's future.

Industry Context

Executive stock transactions are routinely monitored by investors as they can provide insights into management's perspective on the company's valuation and future prospects. This transaction is a routine tax liability coverage and doesn't necessarily signal a change in sentiment.

Comparison to Industry Standards

• Executive compensation packages in the aerospace and defense industry, which RBC Bearings operates in, often include a mix of salary, stock options, and restricted stock units (RSUs).
• Vesting schedules for RSUs typically range from three to five years, aligning with long-term performance goals.
• Companies like TransDigm Group and HEICO Corporation also utilize stock-based compensation to incentivize executives.
• The vesting schedules and option prices for Robert Sullivan's holdings appear to be within the typical range for executives in comparable roles and companies.

Key Dates