Form 4: Rockwell Automation Executive Sells Shares to Cover Taxes After Stock Vesting
SEC Form 4
Robert L. Buttermore, SVP and Chief Supply Chain Officer of Rockwell Automation, sold shares of common stock on June 7, 2024, to cover taxes due on restricted stock that vested on June 6, 2024, according to a Form 4 filing with the SEC.
Summary
- Robert L. Buttermore, a senior executive at Rockwell Automation, filed a Form 4 with the SEC.
- The filing details transactions involving Rockwell Automation common stock.
- On June 6, 2024, Buttermore had 1,552 restricted stock units vest.
- To cover taxes due on the vested stock, Buttermore sold shares on June 7, 2024, in two separate transactions.
- The first sale involved 194 shares at a weighted average price of $255.7114.
- The second sale involved 301 shares at a weighted average price of $256.742.
- Buttermore also indirectly owns 270.25 shares through a savings plan.
- Following these transactions, Buttermore directly owns 1,704 shares of Rockwell Automation common stock and 1,552 restricted stock units.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing stock transactions by an executive. It doesn't inherently convey positive or negative sentiment about the company's performance or future prospects.
Industry Context
This filing is a routine disclosure of insider trading activity. It is common for executives to sell shares to cover tax obligations when restricted stock units vest.
Comparison to Industry Standards
- Executive stock sales are a common occurrence in publicly traded companies.
- Companies like Siemens, ABB, and Schneider Electric, which are competitors of Rockwell Automation, also see similar filings from their executives.
- The volume of shares sold is relatively small compared to the overall market capitalization of Rockwell Automation, suggesting it's a personal financial decision rather than a reflection of the executive's view on the company's prospects.
Stakeholder Impact
- The stock sales are unlikely to have a significant impact on shareholders, employees, customers, suppliers, or creditors, as the volume of shares sold is relatively small.
Key Dates
| Date | Description |
|---|---|
| 11/30/2023 | Date of entry into Rule 10b5-1 plan. |
| 03/31/2024 | Date of last reported information from the Plan Administrator regarding Company stock fund units. |
| 06/06/2023 | Date restricted stock units vest in three substantially equal annual installments beginning on the date exercisable. |
| 06/06/2024 | Date of restricted stock units vesting and transaction date for acquisition of restricted stock units. |
| 06/07/2024 | Date of common stock sales. |
| 06/06/2025 | Expiration date of restricted stock units. |
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