Form 4: RBC Bearings INC: CEO Michael J. Hartnett Reports Acquisition of 17,167 Shares
SEC Form 4
RBC Bearings INC CEO Michael J. Hartnett reports the acquisition of 17,167 shares of common stock on May 23, 2024.
Summary
- On May 23, 2024, Michael J. Hartnett, President and CEO of RBC Bearings INC, acquired 17,167 shares of common stock.
- The acquisition was a direct transaction.
- Following the transaction, Hartnett directly owns 310,614 shares of RBC Bearings INC.
- Hartnett also holds options to purchase common stock at various prices and vesting schedules.
Sentiment
Score: 7
Explanation: The sentiment is moderately positive due to the CEO's acquisition of shares, which suggests confidence in the company's future. However, it's a single transaction and doesn't provide a comprehensive view of the company's overall health.
Positives
- The CEO's acquisition of shares could be interpreted positively, signaling confidence in the company's future prospects.
Industry Context
Insider transactions are closely watched as indicators of management's view of the company's prospects. An acquisition of shares by the CEO is generally seen as a positive sign.
Stakeholder Impact
- The CEO's stock purchase could positively influence shareholder sentiment.
Key Dates
| Date | Description |
|---|---|
| 06/03/2022 | Date of grant for options to purchase common stock at $143.92. |
| 06/02/2022 | Date of grant for options to purchase common stock at $137.44. |
| 06/03/2022 | Date of grant for options to purchase common stock at $199.16. |
| 06/03/2024 | Vesting date for 17,347 restricted shares. |
| 06/03/2024 | Vesting date for half of 20,040 restricted shares. |
| 06/01/2024 | Vesting date for one-third of 31,665 restricted shares. |
| 05/23/2024 | Date of transaction: Acquisition of 17,167 shares of common stock. |
| 06/03/2026 | Expiration date for options to purchase common stock at $143.92. |
| 06/02/2027 | Expiration date for options to purchase common stock at $137.44. |
| 06/03/2028 | Expiration date for options to purchase common stock at $199.16. |
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