Form 4: Sherwin-Williams Executive Justin T. Binns Reports Stock Transactions

Justin T. Binns, President of Global Architectural at Sherwin-Williams, reports the vesting of performance-based restricted stock units and related tax withholding.

Summary

• On February 18, 2025, Justin T. Binns, President of Global Architectural at Sherwin-Williams, reported transactions involving Sherwin-Williams common stock.
• Binns acquired 5,899 shares of common stock upon the vesting of a performance-based restricted stock unit (PRSU) award granted on February 15, 2022.
• The PRSU award was subject to the achievement of certain performance conditions for the 2022-2024 performance period under The Sherwin-Williams Company 2006 Equity and Performance Incentive Plan.
• 2,261 shares were mandatorily withheld to satisfy tax withholding liabilities arising from the vesting of the PRSU award at a price of $354.25.
• Following these transactions, Binns directly owns 18,202 shares of common stock and 4,175 restricted stock units (RSUs), each representing the right to receive one share of common stock.
• Binns also indirectly owns 5,824.77 shares of common stock through The Sherwin-Williams Company 401(k) Plan.

Sentiment

Score: 7

Explanation: The document reflects a standard executive compensation event (PRSU vesting) and tax withholding, suggesting a neutral to slightly positive sentiment as performance goals were met.

Positives

• The vesting of the PRSU award indicates that performance conditions for the 2022-2024 period were met.

Industry Context

This Form 4 filing is a routine disclosure required by the SEC for corporate insiders, providing transparency into their stock transactions. It reflects standard compensation practices involving equity-based awards.

Comparison to Industry Standards

• Equity compensation, including restricted stock units and performance-based awards, is a common practice among publicly traded companies like Sherwin-Williams to align executive incentives with shareholder value.
• Companies such as PPG Industries and AkzoNobel, which are Sherwin-Williams' main competitors, also use similar compensation strategies.
• The vesting of PRSUs based on performance metrics is a standard approach to incentivize executives to achieve specific financial or strategic goals.

Stakeholder Impact

• The vesting of PRSUs aligns executive compensation with company performance, potentially benefiting shareholders.
• The tax withholding impacts the executive's personal finances.

Key Dates

Keywords

Sherwin-Williams, SHW, Form 4, Justin T. Binns, Stock transaction, PRSU, Restricted stock units, 401(k)