Form 4: Regal Rexnord EVP Cheryl Lewis Reports Stock Transactions
SEC Form 4 Filing
EVP and Chief HR Officer of Regal Rexnord, Cheryl Lewis, reports acquisition and disposal of common stock and stock appreciation rights.
Summary
- Cheryl Lewis, EVP and Chief HR Officer of Regal Rexnord, filed a Form 4 detailing changes in beneficial ownership.
- On February 23, 2024, Lewis acquired 1,150 shares of common stock through Restricted Stock Units (RSUs) and 1,902 shares through the settlement of performance share units.
- Also on February 23, 2024, Lewis disposed of 309 and 590 shares of common stock to cover tax obligations, at a price of $168.47 per share.
- Lewis also acquired 3,083 Stock Appreciation Rights (SARs) with an exercise price of $168.47, exercisable starting February 23, 2025, and expiring February 23, 2034.
- Following these transactions, Lewis beneficially owns 9,357.083 shares of common stock and various Stock Appreciation Rights.
Sentiment
Score: 6
Explanation: The sentiment is neutral. The document primarily reports routine stock transactions by an executive. The acquisitions suggest confidence, while the disposals are likely for tax purposes.
Positives
- The acquisition of shares through RSU grants and performance share unit settlements indicates confidence in the company's future performance.
Negatives
- The disposal of shares to cover tax obligations, while common, slightly reduces the executive's direct holdings.
Risks
- There are no specific risks highlighted in this document, as it primarily details stock transactions.
Industry Context
Form 4 filings are a routine part of executive compensation and provide transparency into the trading activities of company insiders. These filings are closely watched by investors to gauge management's sentiment and confidence in the company's prospects.
Comparison to Industry Standards
- Executive compensation packages, including stock options and restricted stock units, are common across publicly traded companies.
- The vesting schedules and terms of the Stock Appreciation Rights are typical for incentive plans designed to align executive interests with shareholder value.
- Comparing the size of the grants and exercises to those of executives at peer companies like Rockwell Automation or Emerson Electric would provide a more comprehensive assessment of the compensation package's competitiveness.
Stakeholder Impact
- The reported transactions provide transparency to shareholders regarding executive stock ownership.
- The transactions have a minimal direct impact on employees, customers, suppliers, or creditors.
Key Dates
| Date | Description |
|---|---|
| 03/02/2021 | Date of previously granted Stock Appreciation Rights. |
| 02/23/2022 | Date of previously granted Stock Appreciation Rights. |
| 02/23/2023 | Date of previously granted Stock Appreciation Rights. |
| 12/31/2023 | Performance period end date for performance share units. |
| 02/23/2024 | Date of reported transactions: acquisition and disposal of shares and acquisition of Stock Appreciation Rights. |
| 02/23/2025 | Vesting start date for Stock Appreciation Rights granted on 02/23/2024. |
| 02/23/2030 | Expiration date for previously granted Stock Appreciation Rights. |
| 02/23/2031 | Expiration date for previously granted Stock Appreciation Rights. |
| 02/23/2032 | Expiration date for previously granted Stock Appreciation Rights. |
| 02/23/2033 | Expiration date for previously granted Stock Appreciation Rights. |
| 02/23/2034 | Expiration date for Stock Appreciation Rights granted on 02/23/2024. |
| 02/27/2024 | Date of signature on the Form 4 filing. |
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