Form 4: SCI Engineered Materials CEO Exercises Stock Options
SEC Form 4 Filing
Jeremiah Ray Young, President and CEO of SCI Engineered Materials, exercised stock options and disposed of shares to cover the exercise cost on July 9, 2024.
Summary
- On July 9, 2024, Jeremiah Ray Young, the President and CEO of SCI Engineered Materials, exercised stock options to acquire 4,120 shares of common stock at an exercise price of $1.25 per share.
- To fund the cashless exercise of these options, 878 shares were withheld by the issuer at a market price of $5.86 per share.
- Following these transactions, Young directly owns 45,821 shares of SCI Engineered Materials common stock.
Sentiment
Score: 5
Explanation: The document is a neutral report of stock option exercises, with no inherent positive or negative sentiment.
Industry Context
This filing is a routine disclosure of insider transactions, which are common in publicly traded companies. It provides transparency into the actions of company executives and their holdings in the company's stock.
Stakeholder Impact
- The transaction has a minor dilutive effect on existing shareholders due to the issuance of new shares.
- The exercise of options by the CEO could be viewed positively as it aligns his interests with those of the shareholders.
Key Dates
| Date | Description |
|---|---|
| 05/15/2021 | Date stock options became exercisable |
| 05/14/2028 | Expiration date of stock options |
| 07/09/2024 | Date of stock option exercise and share disposal |
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