Form 4: Schneider National Executive Reports Stock Transactions
SEC Form 4 Filing
Robert M. Reich JR, EVP and Chief Admin Officer at Schneider National, reports disposition of shares to cover tax liabilities upon vesting of restricted stock.
Summary
- On March 15, 2024, Robert M. Reich JR, EVP and Chief Admin Officer of Schneider National, Inc. [SNDR], disposed of 363 shares of Class B Common Stock at $22.55 to cover tax liabilities from the vesting of restricted stock awarded on February 14, 2020.
- Additionally, 398 shares of Class B Common Stock were disposed of at $22.55 to cover tax liabilities from the vesting of restricted stock awarded on February 15, 2021.
- Following these transactions, Reich directly owns 155,366 shares of Class B Common Stock, of which 42,089 are unvested restricted stock units.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing detailing stock transactions for tax purposes, indicating a neutral sentiment.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This filing indicates routine tax-related stock disposals.
Comparison to Industry Standards
- Executive compensation packages often include restricted stock units (RSUs) that vest over time.
- Upon vesting, executives commonly sell a portion of the shares to cover income tax obligations.
- This practice is standard across publicly traded companies, including competitors like J.B. Hunt and Knight-Swift Transportation.
Stakeholder Impact
- The transactions have a minimal impact on shareholders as they are related to tax obligations and do not represent a significant change in ownership.
- Employees are not directly impacted by this filing.
Key Dates
| Date | Description |
|---|---|
| 02/14/2020 | Date of restricted stock award related to the disposition of 363 shares. |
| 02/15/2021 | Date of restricted stock award related to the disposition of 398 shares. |
| 03/15/2024 | Date of stock transactions (disposal of shares). |
| 03/19/2024 | Date of signature on the Form 4 filing. |
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