Form 4: Servotronics Inc. Executive James C. Takacs Reports Stock Transaction

Chief Technical Officer of Servotronics Inc., James C. Takacs, reports a transaction involving the withholding of 123 common stock shares to cover tax obligations.

Summary

• James C. Takacs, Chief Technical Officer of Servotronics Inc., reported a transaction on December 13, 2024.
• The transaction involved the withholding of 123 shares of common stock to cover tax obligations related to the vesting of restricted stock.
• The price per share for the transaction was $10.72.
• Following the transaction, Mr. Takacs directly owns 12,990 shares and indirectly owns 21,014 shares through an ESOP.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing of a stock transaction, which is neither positive nor negative for the company's outlook.

Industry Context

This is a routine filing related to insider transactions and is common for publicly traded companies. It provides transparency into the stock ownership of company executives.

Comparison to Industry Standards

• Form 4 filings are standard practice for publicly traded companies in the US, ensuring transparency of insider transactions.
• The transaction is a common occurrence related to tax obligations on vesting of restricted stock, similar to practices at other companies such as Rockwell Automation and Parker Hannifin.

Stakeholder Impact

• The transaction has a minimal impact on shareholders as it is a routine tax withholding event.

Key Dates

Keywords

Servotronics Inc, stock transaction, Form 4, insider trading, James C. Takacs, equity incentive plan, tax withholding, common stock, ESOP